Description
The property comprises a terraced property, with the subject accommodation being a ground floor retail unit, with a self-contained one-bedroom flat on the first floor.
The property also benefits from a small courtyard, and garage to the rear of the building.
Location
Portsmouth is the second largest city in the county of Hampshire and the second most densely populated city in the UK, after Inner London. It is situated approximately 66 miles south-west of Central London, 53 miles west of Brighton and 20 miles east of Southampton.
The city benefits from excellent road communications, being situated at the junction of the M27 and A27, with connections to the M3 and A3(M), providing convenient access to London and the wider national motorway network.
The property is situated on Eastney Road, within the established suburb of Eastney, and occupies a prominent position on a well-established local thoroughfare connecting the residential areas of Eastney and Milton. The location benefits from established local footfall and good accessibility, with the Eastern Road (A2030) and M27 motorway network readily accessible.
Nearby occupiers include Co-op, Ladbrokes, Bransbury Park Butchers and Tesco Express, providing a range of convenience retail and local services which contribute to the established nature of the location.
Planning
We understand that the ground floor premises benefit from Class E (Commercial, Business and Service) use under the Town and Country Planning (Use Classes) Order 1987 (as amended), whilst the first floor benefits from Class C3 (Dwellinghouses) use.
Tenancy Information
The ground floor commercial premises are currently vacant and will be offered with vacant possession.
The first-floor flat is let on a tenancy at a current rent of £8,640 per annum.
VAT
We understand that the property is not elected for VAT.
Accommodation
The accommodation has the following approximate floor areas:
Business Rates / Council Tax Band
Rateable Value (2023): £4,700.
Council Tax Band : A
The occupier may be entitled to 100% Small Business Rate relief.
EPC
We understand the property has the following EPC ratings:
Shop - C (expiry 03.08.2036)
Flat - D (expiry 12.02.2030)
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.
