Long leasehold commercial Investment for sale at auction in Southsea

This property is marketed by:
Strettons

The property is arranged on ground and two upper floors, to provide a large ground floor shop unit, with further sales, office and storage space on the first and second floors. The property is located in a prominent retail position in the centre of the pedestrianised section of Palmerston Road. Southsea is a seaside resort town, located in the county of Hampshire, two miles to the south of Portsmouth's inner city-centre and overlooking the Solent.

Lease Details

The property is let to WH Smith Retail Holdings Ltd, for a term of 5 years from 05/05/2021 at a rent of £42,500 pa.

Tenure

Long leasehold for a term of 98 years from 01/11/1951 at a ground rent of £450 pa. (25 years remaining)

Accommodation

(Areas for guidance only)

Whilst Strettons have not internally inspected the property, we understand that the accommodation comprises the following:

Ground Floor: 2,865 Sq Ft (266 Sq M)
First Floor: 2,112 Sq Ft (196 Sq M)
Second Floor: 764 Sq Ft (71 Sq M)
Basement: 376 Sq M (35 Sq M)

Total: 6,117 Sq Ft (568 Sq M)

PRODUCING £42,500 PER ANNUM