Offers over
£159,000
(£258.54/sq. ft)
Retail premises for saleWayte Street, Portsmouth PO6
615 sq. ft
Just added
About this property
Location:
This end terraced, single storey building is located close to the junction with the Wayte Street /Northern Road roundabout, therefore in a highly prominent location. Additionally, the Tesco Super Store is to the rear.
The M.27 (junction 12), approached via Northern Road and Southampton Road, is within a few minutes driving distance making all parts of the Solent region quick to reach, and further afield via the M.3 and the national motorway network. National and Continental flights are available from
Southampton Airport whilst the nearby Cosham railway station offers easy travel to London Waterloo.
Description:
The premises are approached via a fully glazed shop front incorporating a glazed personnel door and arranged essentially as one large room. The accommodation benefits from several cutting and treatment chairs, all plumbed and wired appropriately. The unit has acoustic tiled ceilings, air
conditioning cassettes, fluorescent and feature lighting, a good standard of decorations plus wood laminate flooring.
To the rear is a small kitchenette and toilet, in addition to access to the rear car parking for 3 / 4 cars.
Floor areas:
The premises provide an approximate floor area of:
Retail Unit: 515 square feet / 47.84 square metres, Ancillary: 100 square feet / 9.29 square metres, Total: 615 square feet / 57.13 square metres.
All floor areas are approximate and have been measured in accordance with RICS Code of Practice
on a gross internal basis.
Tenure:
Freehold.
Additionally, it should be noted that the vendors own part of a strip of land to the rear of this block of retail units, 24 - 18 Wayte Street, allowing all occupiers to park, pass and repass without charge.
Lease:
Leased for a term of 10 years from 4 th July 2024 to Aleksandar Budic Limited, with personal guarantee.
There is a tenant's lease break option on 3rd July 2029 on the basis that the landlords are provided with no less than six months prior written notice.
Rent:
£11,000 per annum exclusive payable monthly in advance. No VAT.
Rates:
According to enquiries of The Valuation Office () the Rateable Value (rv) for the entire building is £6,100. The payable figure for the year from April 2026 will be £2,330.20, but an occupier may be zero rated.
Price:
Offers are invited in excess of £159,950. VAT will not be added to the sale price.
An offer at this level would reflect a Nett Initial Yield of 6.75%.
Viewing:
Strictly by prior appointment with the vendor's sole agents, Newton Scott Commercial Property Agents Ltd. Tel; .
This end terraced, single storey building is located close to the junction with the Wayte Street /Northern Road roundabout, therefore in a highly prominent location. Additionally, the Tesco Super Store is to the rear.
The M.27 (junction 12), approached via Northern Road and Southampton Road, is within a few minutes driving distance making all parts of the Solent region quick to reach, and further afield via the M.3 and the national motorway network. National and Continental flights are available from
Southampton Airport whilst the nearby Cosham railway station offers easy travel to London Waterloo.
Description:
The premises are approached via a fully glazed shop front incorporating a glazed personnel door and arranged essentially as one large room. The accommodation benefits from several cutting and treatment chairs, all plumbed and wired appropriately. The unit has acoustic tiled ceilings, air
conditioning cassettes, fluorescent and feature lighting, a good standard of decorations plus wood laminate flooring.
To the rear is a small kitchenette and toilet, in addition to access to the rear car parking for 3 / 4 cars.
Floor areas:
The premises provide an approximate floor area of:
Retail Unit: 515 square feet / 47.84 square metres, Ancillary: 100 square feet / 9.29 square metres, Total: 615 square feet / 57.13 square metres.
All floor areas are approximate and have been measured in accordance with RICS Code of Practice
on a gross internal basis.
Tenure:
Freehold.
Additionally, it should be noted that the vendors own part of a strip of land to the rear of this block of retail units, 24 - 18 Wayte Street, allowing all occupiers to park, pass and repass without charge.
Lease:
Leased for a term of 10 years from 4 th July 2024 to Aleksandar Budic Limited, with personal guarantee.
There is a tenant's lease break option on 3rd July 2029 on the basis that the landlords are provided with no less than six months prior written notice.
Rent:
£11,000 per annum exclusive payable monthly in advance. No VAT.
Rates:
According to enquiries of The Valuation Office () the Rateable Value (rv) for the entire building is £6,100. The payable figure for the year from April 2026 will be £2,330.20, but an occupier may be zero rated.
Price:
Offers are invited in excess of £159,950. VAT will not be added to the sale price.
An offer at this level would reflect a Nett Initial Yield of 6.75%.
Viewing:
Strictly by prior appointment with the vendor's sole agents, Newton Scott Commercial Property Agents Ltd. Tel; .
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