LOCATION
The property is situated on Elm Grove, in Southsea with both national and independent retailers in close proximity, including Co-Operative Food, Three Cuts Restaurant, Laundry Care, One-Eyed Dog.
Southsea is a thriving coastal resort in the City of Portsmouth, with good road connections with London and the South Coast. Albert Road is located to the east and Palmerston Road is to the south of this area.
The nearest train station provides connections to London, Southampton and Brighton is approximately 0.5 miles away in Portsmouth city centre.
.DESCRIPTION
The property comprises a single unit, offering a restaurant opportunity, with kitchen and preparation areas. There are also WC facilities on both ground and first floor level, with ancillary storage on both first floor and basement levels.
| M | Ft | |
| Frontage | 5.8 m | 18’ 10” |
| Built Depth | 17 m | 55’ 9” |
| Shop Depth | Max 10.5 m | 34’ 5” |
| Sales area | 61 sq m | 660 sq ft |
| Kitchen | 15 sq m | 164 sq ft |
| First Floor | 20 sq m | 219 sq ft |
| Basement | 37 sq m | 397 sq ft |
| TOTAL | 115 sq m | 1,239 sq ft |
TERMS
We are instructed to market this double restaurant/retail unit on a new Effective Full Repairing and Insuring Lease for a term to be agreed at the commencing rental of £25,000 per annum exclusive.
A service charge of the fair proportion of the building and insurance will be payable.
OUTGOINGS
Rateable Value:
Shop: £17,0000 (Source: VOA April 2023) – This will need to be reassessed as currently rated with 127 Elm Grove.
EPC RATING
D (83)
LEGAL COSTS
Each party to be responsible for their own legal costs incurred in this transaction.
