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Fountain Hall, 16 Edinburgh Road, Portsmouth, PO1 1DE

£10,000,000
Added on 10/08/2020
Savills, Southampton - Licensed Leisure
PROPERTY TYPE
House
SIZE
10,454 sq. ft.
(971 sq. m.)

Key features

  • Freehold student investment opportunity close to the University of Portsmouth
  • 137 well-presented en-suite and fully catered rooms let from September 2019
  • Two refurbished commercial units including restaurant and bar
  • Potential to add two further storeys (STP)
  • Total gross income of approximately £1.35m per annum
  • Close to Portsmouth and Southsea train station
  • Adjacent to the Cascades Shopping Centre

Property description

Tenure: Freehold

Description
The site extends to approximately 0.24 acres (0.097 hectares) with access directly from Edinburgh Road and Spring Street. The building offers prominent frontage to Edinburgh Road. The building is part three and part five storey of brick construction beneath a pitch tiled roof.

The property comprises of 137 student bedrooms, two commercial units and a substantial basement. The bedrooms and communal areas have all been finished to an excellent standard and vary in size from 6.6 sq m to 19.3 sq m.

The commercial unit facing Edinburgh Road trade as Noodels and comprises a ground floor restaurant containing approximately 24 covers. There is an open kitchen and storage area to the rear and customer WC. The commercial unit facing Spring Street trade as Street Balls and comprises a ground floor restaurant / bar containing approximately 50 covers. To the front of the property are ladies' and gentlemen's WC's and to the rear is a fully fitted trade kitchen. Access to the basement is via Street Balls.

Viewings
For a formal viewing, strictly by appointment with Savills. Viewing dates will be arranged with interested parties. Prior to viewing, interested parties are advised to discuss with Savills any particular points which are likely to affect their interest in the site.

Location
The property is situated in Portsmouth City Centre close to the pedestrianised shopping area of Commercial Road and backing onto the Cascades Shopping Centre where many national retailers are situated. The property is located approximately 1.4 miles from Gunwharf Quays, a retail outlet and leisure destination with over 90 stores. Portsmouth and Southsea railway station is approximately 0.2 miles to the south and provides direct access to London Waterloo in approximately 1.5 hours.

The site is well connected by public transport with bus stops on Edinburgh Road providing access across the City. The University of Portsmouth is approximately 0.3 miles to the south.

Terms
Offers are invited to identify:
• Purchase price
• Non-refundable deposit sum
• Name and address of offering party
• Name and address of purchaser’s solicitor
• Confirmation of how the purchase will be
funded
• Board approval requirement

Specifications
The student bedrooms rent for between £135 and £210 per week. All bedrooms are let on a 48 week basis, catered and fully occupied, this generates an annual turnover of £972,000. Noodels has been generating a monthly turnover of £30,000. Street Balls has recently been re-launched and accounts are not available.

The Local Authority is Portsmouth City Council. The property is Grade II listed but is not situated within a conservation area.

Brochures

Brochure

Fountain Hall, 16 Edinburgh Road, Portsmouth, PO1 1DE

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Portsmouth & Southsea Station0.1 miles
  • Portsmouth Harbour Station0.7 miles
  • Fratton Station0.8 miles
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Disclaimer - Property reference 22577-1. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Savills, Southampton - Licensed Leisure. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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