Description

Lock-Up Shop With Residential Above



Location

The property located in North End, which is an established retail location and a densely populated suburb of Portsmouth. The unit is situated on the eastern side of Kingston Road.

Nearby occupiers include Aldi, Andrew and Andrew solicitors, Kubus Polish Shop, Papa John,s and Lalys Pharmacy.

Planning

We understand that the shop benefits from Class A1 use within the Use Classes Order 1987 (as amended).

The freeholder has made enquiries with Portsmouth City Council who have confirmed
that a specific HMO license is not required as the accommodation has less than five rooms.

VAT

We understand that the property is not elected for VAT.

Accommodation

The property comprises a three storey terraced building plus an attic, which is arranged as a ground floor lock-up shop and a four bedroom maisonette over the upper floors.

The property has the following approximate floor areas:

Ground Floor Shop
Total - 623.3 sq m (671 sq ft)

Residential
First Floor - 37.86 sq m (407 sq ft)
Second Floor - 36.30 sq m (391 sq ft)
Attic - 29.79 sq m (321 sq ft)
Total - 103.95 (1119 sq ft)

Business Rates / Council Tax Band

Council Tax Band A - £1,200 per annum.

Rateable Value (2017): £9,100.

Should you require further information on Business Rates, please contact our in house rating surveyor Daniel Green (d.green@flude.com).

EPC

Ground Floor Shop - C (64)
Residential - D (66)

Legal Fees

Each party to bear their own legal costs incurred.

Terms

We have been instructed to offer the freehold interest with vacant possession and are seeking offers in excess of £299,950 subject to contract.

Previously the residential element was let to four tenants at £23,400 per annum. We are currently marketing the the ground floor lock-up shop at £12,000 per annum, on this basis, the total rent would be £35,400 per annum.
( Agency Pilot Software Ref: 3629 )