Description
Prominent Corner Retail Unit Next To Sports Direct
Total Area 119.61 sq m (1,287 sq ft)
Location
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 Cascades Shopping Centre is the predominant and well managed shopping centre in the City Centre, anchored by Primark, H and M, Next and Sports Direct. On average the centre receives 130,000 visitors per week and is serviced by in excess of 1,000 adjacent car parking spaces.
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 and D2 uses under the former UCO. We therefore understand that the 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.
VAT
We understand the property is registered for VAT.
Accommodation
The accommodation has the following approximate floor areas:
Total Area 119.61 sq m (1,287 sq ft)
Business Rates / Council Tax Band
Rateable Value: £23,750.
Rates Payable: £11,851
Rates Payable with 75% Discount: £2,962.75
Following the Government's latest budget, it has been confirmed that there will be a 75% discount from 1st April 2023 until 31st March 2024.
Subject to annual cash cap of £110,000 per business and qualifying use. Interested parties should make their own enquiries to satisfy themselves of their business rates liability.
EPC
We understand the property has an EPC rating of B (46).
Legal Fees
Each party to bear their own legal costs incurred.
Terms
On application. ( Agency Pilot Software ref: 4235 )
