Terraced house for sale in 29 Palmerston Road, Southsea, Hampshire PO5

For sale by auction 25/07/2024 £275,000 plus

leashold commercial investment let to wh smith retail holdings ltd at £42,500 P.A.

Location & Description
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.

Accommodation
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)

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)

Note
Auction Surveyor : Rob Hills Contact :

Producing £42,500 per annum

EPC Rating
Please refer to legals