Former Criterion Theatre, 4 The Towers, Forton Road, Gosport, PO12 3HA

Description
The property comprises the former Criterion Theatre, originally constructed in 1912, together with ancillary accommodation and a later social club extension. The buildings occupy a prominent triangular site fronting Forton Road and Lees Lane and extend to approximately 1,300 sq m (14,000 sq ft) GIA overall.

The accommodation includes the former theatre auditorium, foyer areas, ancillary rooms, former bar and social club accommodation together with various back-of-house and storage areas. The property is currently vacant and offers significant redevelopment potential.

The property is considered suitable for a range of redevelopment, conversion or refurbishment proposals, subject to obtaining the necessary statutory consents.

Location
The property occupies a prominent roadside position on Forton Road (A32), one of the principal routes into and out of Gosport. The site is situated at the junction of Forton Road, Lees Lane and Lees Lane North and benefits from excellent visibility and frontage.

Gosport town centre lies approximately 0.5 miles to the south-east, whilst Portsmouth Harbour and the Gosport Ferry are easily accessible. Nearby occupiers include Tesco Express, Farmfoods and a range of local retailers and community facilities. Free public parking is available nearby at Whites Place and regular bus services operate along Forton Road.

The surrounding area comprises a mix of residential, commercial and community uses, making the property well suited to residential-led redevelopment, subject to planning permission.

Viewings
Strictly by prior appointment through the sole marketing agents.

Terms
The freehold interest is offered for sale with vacant possession. Offers are invited on a conditional and unconditional basis.

Legal Costs
Each party to be responsible for their own legal costs incurred in the transaction.

VAT
Unless otherwise stated terms are strictly exclusive of Value Added Tax and interested parties must satisfy themselves as to the incidence of this tax in the subject case.

AML
In accordance with Anti-Money Laundering requirements, two forms of identification will be required from the buyer and any beneficial owner together with evidence/proof identifying the source of funds being relied upon to complete the transaction.

Residential Development Potential (STP)
The vendor has commissioned an indicative residential redevelopment scheme for the site and a pre-application enquiry is currently being progressed with the Local Planning Authority.

The emerging proposals comprise a residential-led development of 9 dwellings, providing a mix of apartments, townhouses and coach house style units, extending to approximately 799 sq m (8,600 sq ft) with 11 on-site parking spaces.

Interested parties should rely on their own planning investigations and satisfy themselves as to the site's development potential.