LOCATION
The premises are located in a busy position in Cosham High Street close to Ladbrokes, Specsavers, Wetherspoon & WHSmith. Thewre is a public pay-and-display car park off Wootton Street to the rear.
Cosham itself is about 3 miles north of Portsmouth City Centre and is one of Portsmouth’s principal local shopping centres.
DESCRIPTION
Two-storey retail premises with rear loading & parking.
Rent £16,000 pax - Offers invited in the region of £195,000 - No VAT.
ACCOMMODATION
| |
m2 |
[ft2] |
| GROUND FLOOR |
|
|
| Retail Area |
72.0 |
[775] |
| Kitchen |
11.8 |
[128] |
| Store Cupboard |
2.1 |
[23] |
| Store Room |
11.1 |
[120] |
| WCs |
|
|
| FIRST FLOOR |
|
|
| Store Room |
27.2 |
[293] |
| TOTAL |
124.2 |
[1,339] |
SERVICES
Mains electricity, gas, water and sewerage.
RATING ASSESSMENT
| Description |
Shop & Premises |
| Rateable Value |
£12,500.00 |
| Business Rates Payable 2025/26* |
£6,237.50 |
| With Small Business Rate Relief* |
£1,039.59 |
| Billing Authority Reference |
177503815610 |
| Billing Authority |
Portsmouth City Council |
* These figures could be reduced by 40% in the 2025/26 rating year if the occupier qualifies for the relief scheme for retail, hospitality and leisure properties up to a maximum of £110,000 per business.
ENERGY PERFORMANCE CERTIFICATE
C74 - valid until 19/07/2028.
TENURE
Freehold.
LETTING
The premises are let to Stella’s Voice [Charity Registration Numbers: 276520 & SC040458] on an FRI lease, subject to a schedule of condition, from 06/11/2029 - 24/12/2029 subject to a non-downward rent review on 25/12/2024 [not activated], at a current rent of £16,000 pax [VAT is not currently charged] and with security of tenure excluded at the end of the term.
TERMS
Offers invited in the region of £195,000 which will show a purchaser a net initial yield of about 8.03% after deducting purchaser's costs at 1.75% and SDLT.
VAT is not currently charged.
LEGAL COSTS
Each party to bear their own legal costs.
Ref: 4007C
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