PO4 17-19 Highland Road, Southsea

The property comprises a two-storey mid-terrace building of traditional construction beneath a pitched roof covering. The main elevations are rendered and painted. The shop fronts are timber-framed incorporating glazed display windows and entrance doors. Windows to the upper parts are uPVC double glazed units.

No. 17 is let by way of a 10-year lease commencing 24 December 2022, contracted inside the security of tenure provisions of the Landlord and Tenant Act 1954, on effecvely full repairing and insuring terms. The lease is granted without a tenant break opon. The current passing rent is £14,300 per annum exclusive, subject to upward-only CPI-linked rent reviews at three-yearly intervals.

No. 19 is let by way of a 10-year lease commencing 24 December 2022, contracted inside the security of tenure provisions of the Landlord and Tenant Act 1954, on effecvely full repairing and insuring terms. The lease is granted with tenant break opons in 2026, 2028 and 2031 on six months noce. The current passing rent is £6,276 per annum exclusive, subject to upward-only CPI-linked rent reviews at three-yearly intervals.

Flat 1 above is sold on a long lease expiring January 2175 paying a rent of £100 per annum and Flat 2 is sold long lease expiring January 2085 paying a rent of £100 per annum.

Freehold interest available

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 and Highland 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

No. 17 is let by way of a 10-year lease commencing 24 December 2022, contracted inside the security of tenure provisions of the Landlord and Tenant Act 1954, on effectively full repairing and insuring terms. The lease is granted without a tenant break option. The current passing rent is £14,300 per annum exclusive, subject to upward-only CPI-linked rent reviews at three-yearly intervals.

No. 19 is let by way of a 10-year lease commencing 24 December 2022, contracted inside 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 options in 2026, 2028 and 2031 on six months notice. The current passing rent is £6,276 per annum exclusive, subject to upward-only CPI-linked rent reviews at three-yearly intervals.

Flat 1 above is sold on a long lease expiring January 2175 paying a rent of £100 per annum and Flat 2 is sold long lease expiring January 2085 paying a rent of £100 per annum.

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

No. 17 - Rateable Value (2026): £5,100

No. 19 - Rateable Value (2026): £4,850

EPC

We understand the property has an EPC rating of B (expiry date - 19 March 2036).

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.

ERV £28,500