Retail premises to let in Park Street, Southampton, Hampshire SO16

The subject premises was a Wilko home retail store for almost 20 years, which replaced a Sainsbury’s supermarket and, prior to that, the Regent Cinema.

It currently comprises predominantly open-plan floor plates over ground and first floor levels, which are serviced by a goods and passenger lift as well as two stairwells at each end of the unit. The ground floor has solid floors and suspended ceilings and is air-conditioned, while the first floor provides ancillary stores, WC facilities and six partitioned offices/staff areas. The third floor is redundant plant rooms, which could be used for extra storage. To the rear of the building is a gated staff car park with goods loading bay.

Accommodation

We have identified a net internal area of 21,065 Sq. Ft. / 1,975 Sq. M.

Tenure

Available on a new Fri lease on terms to be agreed, at an initial rental of £150,000 pa plus VAT, exclusive of any business rates, utilities and buildings insurance premium.

EPC rating

We have identified a valid EPC certificate at a rating of D (82):

Rateable value

The property has a rateable value of £95,500, effective from 1st April 2023, suggesting rates payable of £48,896. Please note that the government’s 2024/25 Retail, Hospitality and Leisure (rhl) scheme will be extended for a fifth year into 2024-25, retaining the existing scope and providing eligible properties with 75% relief, up to a cap of £110,000 per business. For further information on business rates please refer to the relevant Local Authority.

Viewings

All enquiries and appointments to view must be made via sole agent Trinity Rose Commercial on or by contacting Jon Baud on / .

Legal costs and VAT

Each party is expected to bear their own legal costs in this transaction. Prices quoted will be subject to VAT provisions.<br /><br />The property is situated on Park Street in Shirley, close to the junction with Shirley High Street, and under a mile from Millbrook Road West which provides connections to Southampton Docks, the M271 and M27 south coast motorway. Shirley itself is a large and sprawling residential and commercial suburb to the north west of Southampton, which is very well served by public bus services. Rear access into the building is via Carlisle Road.

Nearby occupiers include: Kwik Fit, Sainsbury’s, Lloyds Bank, Paddy Power, Peacocks, Iceland, New Look, British Heart Foundation, Oxfam and multiple independent retailers.