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AGENT'S DETAILS


Portsmouth – Freehold Shop with Upper Parts Residential Planning Investment

For sale: £350,000.00|1871 Sq Ft|General Retail, Mixed Use, Retail, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALE£350,000.00
SIZE1871 Sq Ft
ADDRESS9 Arundel Street, Portsmouth, Hampshire PO1 1NB
TYPEGeneral Retail, Mixed Use, Retail, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON30th May 2020

DESCRIPTION

Investment Consideration:
Pedestrianised city centre location opposite Debenhams. Close to Commercial Road.
Development opportunity - planning approved for two 1-bedroom/studio flats.
The property is arranged on ground and upper floors to provide a ground floor shop which benefits from ancillary accommodation to the first floor. The second floor is a void.
The property is situated on the north side of the pedestrianised Arundel Street, close to its junction with Commercial Road in the heart of the city centre.
VAT is applicable to this property.
Occupiers close by include TSB Bank, Debenhams (opposite), Burton & Topman, Clarks Shoes, Wilko, Pure Gym, Superdrug, Age UK, Bonmarché, Waterstones, Brighthouse and Lloyds Bank.

Property Description:
The property is arranged on ground and two upper floors to provide a ground floor shop which benefits from ancillary accommodation to the first floor. The second floor is a void.

The property provides the following accommodation and dimensions:
Ground Floor Retail/Ancillary: 107.25 sq m (1,134 sq ft)
First Floor Ancillary: 68.50 sq m (737 sq ft)
Second Floor: Void

Tenancy:
The shop is at present let to Darker Enterprises Ltd t/a Love Empire for a term of 15 years from 2nd April 2007 at a current rent of £36,000 per annum and the lease contains full repairing and insuring covenants subject to a schedule of condition. The lease provides rent review every fifth year.

Location:
The city of Portsmouth is a major south coast naval base, ferry port and university city, and is also an important retail and commercial centre. The city has a resident population of some 175,000 and benefits from excellent road communication, being served by the M27, M271 and A3(M) Motorways and the A27 dual carriageway. There are also regular rail services to London and major South West towns. The property is situated on the north side of the pedestrianised Arundel Street, close to its junction with Commercial Road in the heart of the city centre. Occupiers close by include TSB Bank, Debenhams (opposite), Burton & Topman, Clarks Shoes, Wilko, Pure Gym, Superdrug, Age UK, Bonmarché, Waterstones, Brighthouse and Lloyds Bank.

LOCATION

Location: 9 Arundel Street, Portsmouth, Hampshire PO1 1NB

Portsmouth & Southsea (0.1 miles)

Fratton (0.7 miles)

Portsmouth Harbour (0.8 miles)

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