Kiosk 1-6 Asda Superstore Portland Terrace Southampton Hampshire SO14 7EG

Kiosk 1-6 Asda Superstore
Portland Terrace
Southampton
Hampshire
SO14 7EG

Kiosk Parade within Major Asda Superstore

Parade of 6 retail kiosks
Approximate Total Floor Area of 187.73 sq m (2,021 sq ft)
Located within a major Asda Superstore benefitting from an excellent footfall
Central Southampton location close to Marlands Shopping Centre and Westquay Shopping Centre
Asset Management Opportunities
All leases outside the Security of Tenure Provisions of the Landlord and Tenant Act 1954

Lot
54
Auction
21st September 2023
Rent
£86,900 per Annum
Status
Sold
Price
£675,000
Auction Venue
Live Streamed Auction
On Behalf of a Major Investment Manager

Important Update Interested?

Expand
Photos
Map

Kiosk Parade within Major Asda Superstore

Parade of 6 retail kiosks
Approximate Total Floor Area of 187.73 sq m (2,021 sq ft)
Located within a major Asda Superstore benefitting from an excellent footfall
Central Southampton location close to Marlands Shopping Centre and Westquay Shopping Centre
Asset Management Opportunities
All leases outside the Security of Tenure Provisions of the Landlord and Tenant Act 1954

Lot 54
Auction 21st September 2023
Rent £86,900 per Annum
Status Sold
Price £675,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On Behalf of a Major Investment Manager

Property Information

Location

Miles: 13 miles south-west of Winchester, 18 miles north-west of Portsmouth, 75 miles south-west of London
Roads: A3025, A33, A3024, M271
Rail: Southampton Central Railway Station
Air: Southampton International Airport

Situation

The property is well located in central Southampton on Portland Terrace, linking Southampton's Cultural Quarter to the City Centre. The property is situated within a major Asda Superstore, opposite the Marlands Shopping Centre and just north of the Westquay Shopping Centre.

Tenure

Virtual Freehold. Held for a term of 999 years from 25/03/1987 at a peppercorn ground rent.

Location

Miles: 13 miles south-west of Winchester, 18 miles north-west of Portsmouth, 75 miles south-west of London
Roads: A3025, A33, A3024, M271
Rail: Southampton Central Railway Station
Air: Southampton International Airport

Situation

Tenure

Virtual Freehold. Held for a term of 999 years from 25/03/1987 at a peppercorn ground rent.

Description

The property comprises a parade of six retail kiosks within a substantial 60,000 sq ft Asda superstore.

VAT

VAT is 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 parade of six retail kiosks within a substantial 60,000 sq ft Asda superstore.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.
Kiosk 1	Ground	Retail	31.86	(343)	INDIVIDUAL t/a K- Dijeuteu	5 years from 30/05/2022 (3)	£15,500 (1)
Kiosk 2	Ground	Retail	31.77	(342)	INDIVIDUAL t/a Winnie's Hair Salon	5 years from 06/09/2019 (3)	£14,600 (2)
Kiosk 3	Ground	Retail	30.00	(323)	ARTISTIC BEAUTY LIMITED t/a Artistic Beauty	5 years from 25/11/2020 (3)	£14,600
Kiosk 4	Ground	Retail	31.12	(335)	DIGITAL ONE HOUR PHOTO LAB LIMITED t/a Digital One Hour Photos	10 years from 23/05/2015 (3)	£13,000 (1)
Kiosk 5	Ground	Retail	31.12	(335)	INDIVIDUAL t/a Sew Quick	5 years from 01/02/2019 (3)	£14,600
Kiosk 6	Ground	Retail	31.86	(343)	REPAIR LABS RETAIL LIMITED t/a The Phone Shop	5 years from 15/10/2019 (3)	£14,600
Total			187.73	(2,021)			£86,900

(1) The rent is inclusive of service charge and insurance.
(2) The rent is inclusive of insurance.
(3) The lease is outside of the security of tenure provisions of the Landlord and Tenant Act 1954.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.