222/224 Commercial Road Portsmouth Hampshire PO1 1HG

222/224 Commercial Road
Portsmouth
Hampshire
PO1 1HG

  • 222/224 Commercial Road<br>Portsmouth<br>Hampshire<br>PO1 1HG

Freehold Retail Investment

  • Let to Tessuti Ltd- a part of JD Sports Plc
  • Modest re-based rent
  • Approximately 390.38 sq m (4,202 sq ft)
  • Rolling landlord & tenant break options, subject to 2 months' notice
  • Lease excluded from the provisions of the Landlord & Tenant Act 1954
  • Of interest to owner occupiers, developers or investors
  • Asset management opportunities
  • Prime City Centre location close to Primark, H&M, TK Maxx, Next, Sports Direct, Superdrug and Boots
  • Lot
    26
  • Auction
    13/Dec/2021
  • Rent
    £18,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £350,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On the Instructions of a Major Fund
  • Expand
  • 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 prominent position on the pedestrianised Commercial Road, less than 500m from Portsmouth & Southsea Train Station and a short walk to Cascades Shopping Centre, with retailers including Primark, H&M, TK Maxx, Next, Lush and Bodyshop. Other nearby occupiers include Sports Direct, Boots, Superdrug and Burger King.

Tenure

Freehold.

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 prominent position on the pedestrianised Commercial Road, less than 500m from Portsmouth & Southsea Train Station and a short walk to Cascades Shopping Centre, with retailers including Primark, H&M, TK Maxx, Next, Lush and Bodyshop. Other nearby occupiers include Sports Direct, Boots, Superdrug and Burger King.

Tenure

Freehold.

Description

The property comprises a two storey building, arranged as a well configured ground floor shop with ancillary accommodation on the first floor.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises a two storey building, arranged as a well configured ground floor shop with ancillary accommodation on the first floor.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Floor Use Floor Areas
(Approx)
Tenant Term Rent p.a.x
Ground
First
Retail
Ancillary
232.82 sq m
157.56 sq m
(2,506 sq ft)
(1,696 sq ft)
TESSUTI LTD (1) Approximately 1.5 years
from 26/01/2021 until and
including 23/06/2022 (2) on
a full repairing & insuring
lease
£18,000
Total
390.38 sq m
(4,202 sq ft)
    £18,000

(1) Tessuti was founded in 1985 and now operates from over 30 stores across the UK. In 2016, Tessuti was acquired by JD Sports PLC (www.tessuti.co.uk).
(2) The landlord & tenant benefit from a rolling option to determine the lease, subject to two months notice. The lease is excluded from the Security of Tenure provisions of the Landlord & Tenant Act 1954.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+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

  • Catalogue Page
    Updated Date
    23.11.21
    File Size
    699 KB
    View PDF
  • Site Plan
    Updated Date
    23.11.21
    File Size
    926 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 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 4860 +44 (0)7513 610 710george.goucher@acuitus.co.uk
Seller's Solicitors
CMS Cameron McKenna Nabarro Olswang LLP Cannon Place
78 Cannon Street
London
EC4N 6AF
David Wilkinson 020 7524 6767david.wilkinson@cms-cmno.com  Maddy Lomax 020 7524 6767maddy.lomax@cms-cmno.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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