Unit 6 Cascades Shopping Centre, Commercial Road, Portsmouth, Hampshire, PO1 4RL

Description

The subject property comprises a self-contained retail unit arranged over two floors. The ground floor provides an open-plan retail trading area, whilst the upper floors offer ancillary accommodation, including storage and staff welfare facilities.

Location

The Cascades Shopping Centre is the predominant and well managed shopping centre in the City Centre, anchored by Primark, H&M, Next and Sports Direct. On average the centre receives 8m visitors per annum and is serviced by in excess of 1,000 adjacent car parking spaces.

Planning

A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO a new Use Class E was introduced to cover commercial, business and service uses. Use Class E encompasses A1, A2, A3, B1 and some D1 and D2 uses under the former UCO. We therefore understand that the premises benefit from Class E 'Commercial Business and Service' use within the Use Classes Order 2020.

VAT

We understand the property is registered for VAT.

Accommodation

The accommodation has the following approximate Net Internal Area (NIA):

Business Rates / Council Tax Band

Rateable Value (2026): £36,500

Occupiers will pay approximately 38% of this per annum.

EPC

We understand the property has an EPC rating of C.

Legal Fees

Each party to bear their own legal costs incurred.