PO5 102 Albert Road, Southsea

The property comprises a three-storey mid-terrace mixed-use building of traditional construction beneath pitched and flat roofs.

The ground floor provides a retail unit arranged to offer a predominantly open-plan sales area to the front, together with a rear office, ancillary storage, kitchen and WC facilities. To the rear there is a small enclosed courtyard; however, there is no separate rear access.

The shop frontage is timber-framed incorporating glazed display windows and entrance door. The upper floors are fitted with uPVC double glazed windows.

The upper parts comprise a six-bedroom HMO arranged over the first and second floors, which has been sold off on a long leasehold interest and does not form part of the subject demise.

Southsea is a vibrant and well-established coastal district situated within the city of Portsmouth

Albert Road serves as one of Southsea's principal thoroughfares

Large ground floor retail unit

Passing rent £14,000 pax

Guide price £280,000 stc

A purchase at this level would reflect a NIY of 7.29%

No VAT

Southsea is a vibrant and well-established coastal district situated within the city of Portsmouth, Hampshire. Renowned for its strong mix of independent retailers, restaurants, cafés, and leisure facilities, Southsea benefits from a substantial residential catchment and a thriving visitor economy, particularly during the summer months.

Albert Road serves as one of Southsea's principal thoroughfares and is a key commercial artery, linking the seafront with the wider Portsmouth area. The road is characterised by a diverse range of occupiers including national operators, independent traders, and a lively evening and night-time economy, underpinned by several public houses, bars, and entertainment venues, including the well-known Kings Theatre.

Planning

Interested parties should make their own planning enquiries and satisfy themselves in this regard.

Tenancy Information

The property is let by way of a 10-year lease commencing 01 April 2025, contracted outside the security of tenure provisions of the Landlord and Tenant Act 1954, on effectively full repairing and insuring terms. The lease is granted with tenant break option in 2028 on six months notice. The current passing rent is £14,000 per annum exclusive, subject to upward-only CPI-linked rent reviews at three-yearly intervals.

102a above is sold on a long lease expiring September 2143 paying a rent of £150 per annum and is subjected to rent reviews every 25 years.

VAT

We understand that the property is not elected for VAT.

Accommodation

The accommodation has the following approximate Net Internal Area (NIA):

Business Rates / Council Tax Band

Rateable Value 2026): £8,600

EPC

We understand the property has an EPC rating of E (expiry date - 03.02.35).

Legal Fees

Each party to bear their own legal costs incurred.

AML

In accordance with current Government legislation, we are legally required to conduct Anti-Money Laundering (AML) checks on all prospective purchasers or tenants where the transaction involves a capital value of ?15,000 (EUR) or more, or a rental value of ?10,000 (EUR) per calendar month or greater.

This process includes verifying identity, as well as confirming the source and availability of funds. Please note that we must obtain and record this information before any transaction can be formalised or contracts exchanged.