117-147 Commercial Road Portsmouth Hampshire PO1 1BU

  • 117-147 Commercial Road<br>Portsmouth<br>Hampshire<br>PO1 1BU

117-147 Commercial Road
Portsmouth
Hampshire
PO1 1BU

Freehold Ground Rent Investment

  • Substantial City Centre Department Store with 4 adjoining shops
  • Approx. Site area of 0.60 Ha (1.49 Acres)
  • Buildings which extend to an approximate Floor Area of 13,984.09 sq. m. (150,524 sq. ft.)
  • Occupiers include Primark, H&M, H Samuel, Footasylum and Schuh
  • A Primark Lease to expire in January 2049 offering Valuable Reversion
  • Prime position on Commercial Street adjacent to Cascades Shopping Centre
  • Nearby occupiers include River Island, Superdrug, JD Sports, Waterstones, Burger King, Wendy's and KFC
  • Lot
    14
  • Auction
    7th November 2024
  • Rent
    £12,925 per Annum Exclusive
  • Status
    Available
  • Guide*
    £500,000
  • Sector
    Ground Rent
  • Auction Venue
    Live Streamed Auction
  • On Behalf of a Cambridge College
  • Expand
  • Photos
  • Map

Freehold Ground Rent Investment

  • Substantial City Centre Department Store with 4 adjoining shops
  • Approx. Site area of 0.60 Ha (1.49 Acres)
  • Buildings which extend to an approximate Floor Area of 13,984.09 sq. m. (150,524 sq. ft.)
  • Occupiers include Primark, H&M, H Samuel, Footasylum and Schuh
  • A Primark Lease to expire in January 2049 offering Valuable Reversion
  • Prime position on Commercial Street adjacent to Cascades Shopping Centre
  • Nearby occupiers include River Island, Superdrug, JD Sports, Waterstones, Burger King, Wendy's and KFC
  • Lot 14
  • Auction 7th November 2024
  • Rent £12,925 per Annum Exclusive
  • Status Available
  • Guide* £500,000
  • Sector
    Ground Rent
  • Auction Venue
    Live Streamed Auction
  • On Behalf of a Cambridge College

Property Information

Location
Miles
15 miles south east of Southampton, 13 miles west of Chichester
Roads
M275, A3
Rail
Portsmouth & Southsea Railway Station
Air
Southampton Airport
Situation

Portsmouth is a major port and coastal city, popular with tourists and retailers. The property is situated the prime retailing pitch on the north side of the pedestrianised Commercial Road, Portsmouth's principal retailing thoroughfare, home to the Cascades Shopping Centre. Nearby occupiers include River Island, JD Sports, Waterstones, Burger King, Wendy's and KFC.

Tenure

Freehold.

Location
Miles
15 miles south east of Southampton, 13 miles west of Chichester
Roads
M275, A3
Rail
Portsmouth & Southsea Railway Station
Air
Southampton Airport
Situation

Portsmouth is a major port and coastal city, popular with tourists and retailers. The property is situated the prime retailing pitch on the north side of the pedestrianised Commercial Road, Portsmouth's principal retailing thoroughfare, home to the Cascades Shopping Centre. Nearby occupiers include River Island, JD Sports, Waterstones, Burger King, Wendy's and KFC.

Tenure

Freehold.

Description

The property comprises a site of 0.60 Ha (1.49 Acres). upon which sits an extensive department store with 4 adjoining shops with a total approximate floor area of 13,984.09 sq. m. (150,524 sq. ft.) (1)

Current occupiers within the property include Primark, H&M, Schuh, Footasylum and H. Samuel.

VAT

VAT is applicable to this lot.

EPC

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

Description

The property comprises a site of 0.60 Ha (1.49 Acres). upon which sits an extensive department store with 4 adjoining shops with a total approximate floor area of 13,984.09 sq. m. (150,524 sq. ft.) (1)

Current occupiers within the property include Primark, H&M, Schuh, Footasylum and H. Samuel.

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Address Tenant Term Rent p.a.x. Review Reversion
117 Commercial Road DENTON & CO TRUSTEES LIMITED and INDIVIDUAL 125 years from 25/03/1996
£8,500
25/03/2026 and 5 yearly thereafter (2) 24/03/2121
119 Commercial Road ACSL PROPERTIES LIMITED 116 years from 18/05/2005
£500
18/05/2030 and 25 yearly thereafter (3) 24/03/2121
121-127 Commercial Road PRIMARK STORES LIMITED 99 years from 03/01/1950
£3,925
  02/01/2049
129-135 Commercial Road PRIMARK STORES LIMITED 150 years from 14/01/1999
£0
  13/01/2149
137-143 Commercial Road BANKUWAIT NOMINEES LIMITED and GRAVITAS HOLDINGS PLC 125 years from 28/06/2002
£0
  27/06/2127
145-147 Commercial Road NT PROPERTY NOMINEES 1A LIMITED and NT PROPERTY NOMINEE 125 years from 13/12/1989
£0
  09/12/2114
Total    
£12,925
   

(1) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
(2) The five yearly rent reviews are to 8.5% of the occupational rents or Estimated Rental Value (subject to min. rent of £6,205 p.a.), whichever is the greater.
(3) RPI Linked Rent Reviews.

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.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    29.10.24
    File Size
    501 MB
    Login to View
  • Brochure
    Updated Date
    22.10.24
    File Size
    4 MB
    View PDF
  • Common Auction conditions
    Updated Date
    20.05.24
    File Size
    620 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Jon SkerryJon Skerry +44 (0)20 7034 4863 +44 (0)7736 300 594jon.skerry@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Seller's Solicitors
Mills & Reeve LLP Botanic House 100 Hills Road
Cambridge
CB2 1PH
Michelle Cookson +(44)(0)1223 222234michelle.cookson@mills-reeve.com  Peter Collins +(44)(0)1223 222234peter.collins@mills-reeve.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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