Nov 2025 Rent Review, linked to RPI, subject to a minimum of 1% and a maximum of 4% per annum Compounded
Approximate Site Area of 0.32 Acres (013 Ha)
Medium Term Residential Redevelopment Potential, Subject to Consents
Prominently Situated in Busy Neighbourhood Location.
Lot 25
Auction 15th May 2025
Rent £83,000 per Annum Exclusive Rising to a Minimum of £87,233 pax or a Maximum of £105,931 pax in November 2025 (2)
Status Sold Prior
Price
Sector Supermarket/Convenience, Residential
Auction Venue Live Streamed Auction
Property Information
Location
Mile
2 miles north of Portsmouth, 15 miles south east of Southampton, 75 miles south west of London
Roads
M27, A27, A3, A3(M)
Rail
Cosham Railway Station
Air
Southampton Airport
Situation
The property is situated in a very prominent position within a busy neighbourhood at he junction of Lonsdale Avenue, Knowsley Road and Salisbury Road, approximately 0.5 miles to the east of the town centre which features a JD Weatherspoon, NatWest, Boots, Costa, Knowsley Road Park and a range of local retail businesses.
Tenure
Freehold.
Location
Mile
2 miles north of Portsmouth, 15 miles south east of Southampton, 75 miles south west of London
Roads
M27, A27, A3, A3(M)
Rail
Cosham Railway Station
Air
Southampton Airport
Situation
The property is situated in a very prominent position within a busy neighbourhood at he junction of Lonsdale Avenue, Knowsley Road and Salisbury Road, approximately 0.5 miles to the east of the town centre which features a JD Weatherspoon, NatWest, Boots, Costa, Knowsley Road Park and a range of local retail businesses.
Tenure
Freehold.
Description
The property is a former Public House, the ground floor of which has been converted and is operating as a Convenience store. The first floor comprises two self contained, two bedroom flats.
The property benefits from an approximate Site Area of 0.32 Acres (0.13 Ha) upon which is a car park, accommodating approximately 18 spaces. The property may be suitable for residential redevelopment in the medium term, subject to obtaining the necessary consents.
.
VAT
VAT is applicable to this lot.
EPC
Retail - Band C. Flat 1 - Band E, Flat 2- Band D
Description
The property is a former Public House, the ground floor of which has been converted and is operating as a Convenience store. The first floor comprises two self contained, two bedroom flats.
The property benefits from an approximate Site Area of 0.32 Acres (0.13 Ha) upon which is a car park, accommodating approximately 18 spaces. The property may be suitable for residential redevelopment in the medium term, subject to obtaining the necessary consents.
.
VAT
VAT is applicable to this lot.
EPC
Retail - Band C. Flat 1 - Band E, Flat 2- Band D
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review (Reversion)
Ground First First
Supermarket 2 Bed flat 2 Bed flat
305.18 108.05 78.04
(3,285) (1,163) (840)
CO-OPERATIVE GROUP FOOD LIMITED (CRN: IP26715R) (1)
15 years from 13/11/2015
£83,000
13/11/2025(2) (12/11/2030)
Total Approximate Floor Area
491.27
(5,308)
£83,000 Rising to a minimum of £87,233pax in November 2025(2)
(1) For the period ending 06/01/2024, Co-Operative Group Food Limited reported a revenue of £8,495,800,000., Pre-Tax profits of £8,300,000. and Net Assets of £1,873,900,000..(Source: Annual Return and Accounts for the period ending 06/01/2024 as published at Financial Conduct Authority on 10/04/2025). The tenant has sublet the property. (2) The Lease provides for a Tenant Option to extend the lease for a further 15 years until 2045. The Lease provides for the rent to be reviewed upward only and in line wit the Retail Price Index, subject to a minimum of 1% and a maximum of 4% per annum compounded. Therefore the rent will increase to a Minimum of £87,233 per annum exclusive or a Maximum of £105,931 per annum exclusive in November 2025.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
