City Centre Opportunity
Portsmouth is located approximately 19 miles south east of Southampton and 70 miles south west of London. The city benefits from excellent road communications being situated at the M27/A27 junction, which links to M3 and A3(M) and provides access to London and the wider national motorway network.
The property is located in Portsmouth city centre and is situated on the south side of Arundel Street close to its junction with Commercial Road, which is one of the main shopping areas within the city.
Nearby occupiers include Debenhams, Royal Mail, Superdrug, Wilko, Pure Gym, Burton and Topman and British Heart Foundation.
We understand the premises currently benefits from Class A1 use within the Use Classes Order 1987 (as amended).
property would lend itself to residential redevelopment. (Subject to
obtaining the necessary approvals)
We understand that the property is not elected for VAT.
The property comprises a prominent iconic two storey corner building, plus an attic, which has been occupied by U-Need-Us for nearly 100 years.
Internally, the property is currently configured as a self-contained retail unit providing a large sales area on the ground floor, together with storage, offices and WCs. The first floor and attic space is used as storage for the shop.
Descriptionsq m sq ft
Ground Floor193 2,077
First Floor 193 2,077
Attic 53 574
Total GIA 439 4,728
Business Rates / Council Tax Band
Ratetable Value (2017): £27,250
We understand the property has an EPC rating of E(117).
Each party to bear their own legal costs incurred.
We have been instructed to market the property with vacant possession at a guide price of £550,000 for the freehold interest subject to contract.
( Agency Pilot Software Ref: 3181 )