9 Arundel Street
Portsmouth
Hampshire
PO1 1NB

High Yielding Freehold Retail Investment (with Future Development Potential)

  • Let to Darker Enterprises Limited
  • Pedestrianised City Centre location
  • Planning Permission approved in June 2018 for conversion of upper parts to two x 1 bedroom/studio flats (subject to lease)
  • Nearby occupiers include Primark, Pandora, Warren James, Lush, Bodyshop, Puregym, Wilko and Superdrug
  • High Yielding on Guide Price
  • Lot
    19
  • Auction
    10/Dec/2020
  • Rent
    £36,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £225,000+
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 9 Arundel Street<br>Portsmouth<br>Hampshire<br>PO1 1NB
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  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
18 miles south-east of Southampton
70 miles south-west of London
Roads
M275, M27, A3(M)
Rail
Portsmouth & Southsea
Air
Southampton
Situation

Portsmouth is a popular port and coastal city approximately 18 miles south-east of Southampton and 70 miles south-west of London. The property is situated in a prominent location on the pedestrianised Arudel Street, in the heart of the city centre, less than half a mile from Portsmouth University and a short walk to Cascades Shopping Centre, with retailers including Primark, Pandora, Warren James, Lush and Bodyshop. Other nearby occupiers on Arundel Street include Puregym, Wilko and Superdrug.

Tenure

Freehold.

Description

The property comprises a two storey building, arranged as a ground floor shop with ancillary accommodation on the first floor. The second floor is a facade only and therefore void, but allowing for possible development.

VAT

VAT is applicable to this lot.

Planning

Planning permission was approved in June 2018 for two x 1 bedroom/studio flats above (Ref: 18/00005/PASBD). For more information please contact Portsmouth City Council: T: 023 9282 2251 E: planning@portsmouthcc.gov.uk

Completion Period

Six Week Completion

EPC

D. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.x
Ground
First
Retail/Ancillary
Ancillary
78.50 sq m
78.50 sq m
(845 sq ft)
(845 sq ft)
DARKER
ENTERPRISES
LIMITED (1)
15 years from 02/04/2007
until 01/04/2022 on a full repairing and insuring lease (2)
£36,000
Total
157.00 sq m
(1,690 sq ft)
  £36,000

(1) For the year ending 31/12/2018, Darker Enterprises Limited did not report a turnover or pre-tax profits, but reported total assets of £1,361,952 (NorthRow 18/11/2020).
(2) The lease is FR&I, subject to a Schedule of Condition.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    30.11.20
    File Size
    14 MB
    Login to View
  • Site Plan
    Updated Date
    20.11.20
    File Size
    3 MB
    View PDF
  • Catalogue Page
    Updated Date
    20.11.20
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Associate Auctioneers
Blue Alpine Ltd 83c Ashley Gardens, Thirleby Road
London
Westminster
SW1P 1HG
Joseph Bachman 077236 19270joseph@bluealpine.com
Seller's Solicitors
Axiom Stone Axiom House 1 Spring Villa Road
Edgware
Middlesex
HA8 7EB
Jaymini Ghelani 02089 516 984jg@axiomstone.co.uk

Useful Links

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