Entirely sub underlet to tenant trading as Select Clothing at £130,000 p.a.x.
Approximately 4,780 sq ft
First class location opposite The Cascades Shopping Centre with retailers including Primark, Marks & Spencer, H&M, Next and TK Maxx
VAT-free Ground Rent Investment
Lot 14
Auction 14th February 2018
Rent £900 per Annum Exclusive
Status Withdrawn Post
Price
Sector Ground Rent
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
17 miles west of Chichester, 20 miles south-east of Southampton
Roads
A3, A27, M27
Rail
Portsmouth & Southsea Railway Station
Air
Southampton Airport
Situation
The property is situated on the eastern side of the pedestrianised Commercial Road, Portsmouth's principal retailing thoroughfare. The Cascades Shopping Centre is directly opposite the property, with occupiers including Marks & Spencer, Primark, Next, H&M and TK Maxx. WHSmith and Burger King are adjacent to the property, with other nearby occupiers including Boots the Chemist, Debenhams, JD Sports and River Island. NCP Crasswell Street Multi Storey Car Park is located nearby, with parking for over 900 cars.
Tenure
Freehold.
Location
Miles
17 miles west of Chichester, 20 miles south-east of Southampton
Roads
A3, A27, M27
Rail
Portsmouth & Southsea Railway Station
Air
Southampton Airport
Situation
The property is situated on the eastern side of the pedestrianised Commercial Road, Portsmouth's principal retailing thoroughfare. The Cascades Shopping Centre is directly opposite the property, with occupiers including Marks & Spencer, Primark, Next, H&M and TK Maxx. WHSmith and Burger King are adjacent to the property, with other nearby occupiers including Boots the Chemist, Debenhams, JD Sports and River Island. NCP Crasswell Street Multi Storey Car Park is located nearby, with parking for over 900 cars.
Tenure
Freehold.
Description
The property comprises a well configured ground floor shop with further sales accommodation on the first floor and ancillary accommodation on the second floor.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a well configured ground floor shop with further sales accommodation on the first floor and ancillary accommodation on the second floor.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
99 years from 29/09/1954 until 28/09/2053 on a full repairing and insuring lease
£900 (sub-underlet at £130,000)
Total
444.05 sq m
(4,780 sq ft)
£900
(1) The entire property is sublet to Gilberts Fashions Limited for a term of 99 years less three days from 29th September 1954 and expiring 25th September 2053 at a fixed rent of £1,800 p.a.x. Gilberts Fashions Limited sublets the entire property to Genus UK Limited t/a Select Clothing for a term of 10 years from July 2010 at a rent of £130,000 p.a.x.
