Unit MSU2 Market Quay, 3 Cremer Mall, Fareham, PO16 0BT

Description
The unit forms part of the mixed use Market Quay development in the centre of Fareham. Other occupiers include 5 screen Reel Cinema, Nandos, Slug & Lettuce, Loungers, PINS Bowling, JinZun restaurant, Snap Fitness gym and various retail occupiers. The main surface car park for the town centre is directly in front of the unit.

Location
Market Quay Shopping Centre is located in the centre of Fareham and is easily accessible from the M27 motorway and A27.

Terms
The premises is available by way of a new effectively full repairing and insuring lease for a term by agreement, subject to upward only rent reviews every fifth year.

Rates
Rateable Value - £129,000

Service Charge & Insurance
This unit participates in a service charge of £76,671 + VAT for the current year. Insurance £10,282 +VAT per annum

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 (health, surgery/clinic) and D2 (leisure) uses under the former UCO. We therefore understand that the ground floor premises benefit from Class E ‘Commercial Business and Service’ use within the Use Classes Order 2020. Interested parties should make their own planning enquiries and satisfy themselves in this regard.

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

Viewings
Viewings via joint sole agents: Vail Williams Tim Clark - , Josh Gettins .

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