Description
The subject property comprises a single-storey ground floor corner retail unit, providing open-plan sales accommodation. To the rear of the premises is a kitchenette and WC. The unit is suitable for a variety of uses falling within Use Class E.
Location
Southsea is a vibrant and well-established coastal district within the city of Portsmouth, Hampshire. Renowned for its strong mix of independent retailers, restaurants, cafés and leisure facilities, Southsea benefits from a substantial residential catchment and a thriving visitor economy, particularly during the summer months.
The property occupies a prominent corner position on Marmion Road at its junction with Grove Road South, just a short distance from Palmerston Road, which forms the principal commercial thoroughfare within Southsea town centre. The area is a well-established retail and leisure destination, attracting both national and independent occupiers. Nearby retailers include Specsavers, Costa Coffee, Waitrose, Boots, WHSmith, Tesco and New Look.
The area benefits from several public car parks and on-street parking provision within the immediate vicinity, providing convenient access for shoppers and visitors.
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 that the property is not elected for VAT.
Accommodation
The accommodation has the following approximate Net Internal Area (NIA):
Business Rates / Council Tax Band
Rateable Value (2026): £23,750
Occupiers will pay approximately 38% of this per annum.
EPC
We understand the property has an EPC rating of C (expiry date - 20/12/2033).
Legal Fees
Each party to bear their own legal costs incurred.
AML
In accordance with current Government legislation, we are legally required to conduct Anti-Money Laundering (AML) checks on all prospective purchasers or tenants where the transaction involves a capital value of €15,000 (EUR) or more, or a rental value of €10,000 (EUR) per calendar month or greater.
This process includes verifying identity, as well as confirming the source and availability of funds. Please note that we must obtain and record this information before any transaction can be formalised or contracts exchanged.
