Unit 1, 21 West Street
Portchester
Nr Fareham
Hampshire
PO16 9XB

Retail Investment

Let to Sue Ryder on a renewed lease until 2025 (no breaks)
Prime pedestrianised location
July 2020 Tenant Break Option NOT exercised
Neighbouring occupiers include Co-Op Supermarket, Marie Curie, Iceland Foods and Betfred

Lot
2
Auction
16/Jun/2021
Rent
£19,500 per Annum Exclusive
Status
Available
Price*
£175,000 - £195,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

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Photos
Map

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

Property Information

Location

Miles: 8 miles north of Portsmouth; 15 miles east of Southampton
Roads: A27, M27, A3(M)
Rail: Portchester Station
Air: Southampton Airport

Situation

The property is situared on the north side of West Street and is part of a prominent retail parade in a prime pedestrianised location in the centre of Portchester. Neighbouring occupiers include Co-Op Supermarket, Marie Curie, Iceland Foods, Betfred and Superdrug.

Tenure

Virtual Freehold. Held for a term of 999 years from June 1990 at a peppercorn rent.

Description

The property comprises a ground floor retail accommodation which benefits from access to the rear via a service yard and rear Car Parking.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground	Retail	212.90 sq m	(2,291 sq ft)	SUE RYDER (1)	10 years from 06/07/2015	£19,500	05/07/2025
Total		212.90 sq m	(2,291 sq ft) (1)			£19,500

(1) The above floor areas have been published by the Valuation Office Agency at https://www.tax.service.gov.uk/business-rates-find/properties/112334175
(2) For the year ending 31st Mach 2020, Sue Ryder reported a turnover of £112,017,000, a pre-tax profit of £48,667,000 and shareholder funds of £53,822,000 (Source: NorthRow 19/05/2021). Sue Ryder has over 400 charity Shops across the UK (Source: www.sueryder.org).

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.