TYPERetail - High Street, Restaurants/Cafes, Retail, Licensed & Leisure
POSTED ON7th June 2020
Queen's Terrace is located south of the city centre within close proximity of Southampton Water providing excellent access to the Docks and Red Funnel Ferries.
Southampton city centre and Ocean Village are situated a short walk away to the north west and east respectively. Oxford Street, a popular and well established leisure destination is located within 50 metres.
The property forms part of six storey character building configured to also provide luxury residential accommodation to the upper floors. The ground floor unit comprises an open plan drinking/dining area, a kitchen and toilet facilities in the basement.
Area 1 - 817 sq ft (75.86 sq m) Area 2 - 1,873 sq ft (174.04 sq m) Approx. Total Net Internal Area - 2,690 sq ft (249.90 sq m) The approximate areas stated above are for guidance only. Primmer Olds B.A.S has not measured the property but obtained areas from a scaled plan.
We understand the current permitted use to be A3 (Restaurant and Cafe). All parties are advised to make their own enquiries of the local authority.
Asset Rating - C70
Rateable Value £45,000 Source - voa.gov.uk The 2019/2020 standard multiplier is 0.491 (49.1p payable per £1). This determines what business rates are payable. All parties are advised to make their own enquiries for confirmation.
Available by way of a new effectively Full Repairing and Insuring lease for a term to be agreed at an initial rent of £40,000 per annum exclusive of rates, VAT (if applicable) and all other outgoings.
There is also potential for the unit to be split into two at initial rents of: Area 1 - £12,000 per annum exclusive Area 2 - £28,000 per annum exclusive ( Agency Pilot Software Ref: 6835 )