Freehold Retail and Residential Investment
Freehold Retail and Residential Investment
The property is situated on the western side of London Road, close to its junction with Angerstein Road, Stubbington Avenue and Gladys Avenue in the North End area of the City of Portsmouth. London Road is the busy local high street of this densely populated inner suburb and is home to many well known national retailers including BHF, 99p Stores, Halifax, Sainsbury’s, Iceland and
Poundstretcher.
Freehold.
The property is situated on the western side of London Road, close to its junction with Angerstein Road, Stubbington Avenue and Gladys Avenue in the North End area of the City of Portsmouth. London Road is the busy local high street of this densely populated inner suburb and is home to many well known national retailers including BHF, 99p Stores, Halifax, Sainsbury’s, Iceland and
Poundstretcher.
Freehold.
The property comprises two ground retail units with residential accommodation on upper floors let on a long lease.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises two ground retail units with residential accommodation on upper floors let on a long lease.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|
| Ground | Retail | 83.28 sq m |
(896 sq ft) |
CHEQUE CENTRES PROPERTIES LIMITED (1) |
10 years from 28/07/2011 until 27/07/2021 (2) | £15,000 | 28/07/2016 |
| Ground | Retail | 87.00 sq m |
(936 sq ft) |
TAMMY DO (t/a Tammy’s Nail Bar) |
15 years from 14/06/2007 until 13/06/2022 | £16,500 | 14/06/2017 |
| First | Residential | Not Measured |
1 ANGERSTEIN LIMITED | 125 years from 29/09/1984 until 28/09/2109 | £400 (3) | 29/09/2034 & every 25 years (3) | |
| Totals | 170.28 sq m |
(1,832 sq ft) |
£31,900 | ||||
(1) Cheque Centre was founded in 1996 and is one of the UK’s leading alternative retail financial services companies with stores throughout Scotland, England, Wales and Northern Ireland. (Source: www.chequecentre.co.uk 07/04/2014)
(2)The lease provides a tenant’s option to determine on the fifth anniversary of the term, subject to nine months’ notice.
(3)The lease provides for the rent to increase by £200 at each review.
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