Retail premises for sale in Arundel Street, Portsmouth PO1

Fixed price £275,000 (£146.98/sq. ft)
Retail premises for sale 1,871 sq. ft*

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9 Arundel Street, Portsmouth, Hampshire Po1 1Nb

Interested in this property? Call +44 20 3641 9157 * or Request Details

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Property features

  • Freehold Shop Investment
  • Comprises ground floor shop with ancillary accommodation on the first floor
  • Development opportunity - planning approved for two 1-bedroom/studio flats
  • Pedestrianised city centre location opposite Debenhams
  • VAT is applicable to this property
  • Occupiers close by include tsb Bank, Debenhams, Superdrug, Lloyds Bank and Wilko

Property description

Investment Consideration:
Gross Initial Yield: 13.09%
Rental Income: £36,000 p.a.
VAT is applicable to this property.
Pedestrianised city centre location opposite Debenhams. Close to Commercial Road.
Development opportunity - planning approved for two 1-bedroom/studio flats.
The property is arranged on ground and upper floors to provide a ground floor shop which benefits from ancillary accommodation to the first floor. The second floor is a void.
The property is situated on the north side of the pedestrianised Arundel Street, close to its junction with Commercial Road in the heart of the city centre.
Occupiers close by include tsb Bank, Debenhams (opposite), Burton & Topman, Clarks Shoes, Wilko, Pure Gym, Superdrug, Age UK, Bonmarché, Waterstones, Brighthouse and Lloyds Bank.

Property Description:
The property is arranged on ground and two upper floors to provide a ground floor shop which benefits from ancillary accommodation to the first floor. The second floor is a void.

The property provides the following accommodation and dimensions:
Ground Floor Retail/Ancillary: 107.25 sq m (1,134 sq ft)
First Floor Ancillary: 68.50 sq m (737 sq ft)
Second Floor: Void

Tenancy:
The shop is at present let to Darker Enterprises Ltd t/a Love Empire for a term of 15 years from 2nd April 2007 at a current rent of £36,000 per annum and the lease contains full repairing and insuring covenants subject to a schedule of condition. The lease provides rent review every fifth year.

Location:
The city of Portsmouth is a major south coast naval base, ferry port and university city, and is also an important retail and commercial centre. The city has a resident population of some 175,000 and benefits from excellent road communication, being served by the M27, M271 and A3(M) Motorways and the A27 dual carriageway. There are also regular rail services to London and major South West towns. The property is situated on the north side of the pedestrianised Arundel Street, close to its junction with Commercial Road in the heart of the city centre. Occupiers close by include tsb Bank, Debenhams (opposite), Burton & Topman, Clarks Shoes, Wilko, Pure Gym, Superdrug, Age UK, Bonmarché, Waterstones, Brighthouse and Lloyds Bank.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Blue Alpine Partners, SW1P on +44 20 3641 9157 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Blue Alpine Partners, and do not constitute property particulars. Please contact Blue Alpine Partners for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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