Retail premises for sale in 64, 64A & 64B London Road, Portsmouth, Hampshire PO2
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Property features
- Located in busy retail parade popular for hot food uses
- Total income £18,250 per annum
- Attractive Net Initial Yield 8.1%
- Lease expiry 2033
- Uppers sold off on a long leasehold
- 1 allocated parking space to the rear
Property description
Description
Portsmouth is a maritime city situated on Portsea Island that fronts out onto the Spithead. It is located approximately 20 miles east of Southampton and 17 miles west of Chichester.
Portsmouth is the most densely populated city in the UK outside London. The subject property is situated in an area known as North End and the majority of retail activity is centred on London Road.
The property comprises a ground floor retail premises trading as a pizza takeaway. The property also consists of two self-contained residential apartments on the upper parts, both sold off on long leasehold for a period of 125 years dated June 2017.
The property benefits from 1 parking to the rear of the property including rear loading.
Accommodation
Total Ground Internal Area - 1,137 sq.ft (105.65 sq.m)
Planning
Under the new planning regulations, we believe the current permitted use to be use class 'E' which includes uses such as retail, professional services, café, health clinics, indoor recreation/sport and office. All parties are advised to make their own enquiries of the local authority for confirmation.
EPC Text
Asset Rating Retail Unit - To be assessed
Flat A - D (64)
Flat B - D (66)
Rating
Rateable Value £11,750
Source The 2024/2025 small business multiplier is 0.499 (4.99p payable per £1).
Terms
Offers invited in the region of £220,000 subject to contract for the freehold interest subject to the subsisting tenancy.
A purchase at this level shows a Net Initial Yield of 8.1% after allowing
usual buyers costs.
Property info
* Sizes listed are approximate. Please contact the agent to confirm actual size.
For more information about this property, please contact
Primmer Olds BAS, SO15 on +44 23 8210 6295 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Primmer Olds BAS, and do not constitute property particulars. Please contact Primmer Olds BAS for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.