Coop Convenience Store, Lonsdale Avenue Cosham Portsmouth Hampshire PO6 2PX

Coop Convenience Store, Lonsdale Avenue
Cosham
Portsmouth
Hampshire
PO6 2PX

Freehold Supermarket and Residential Investment

Let to Co-Operative Group Food Limited until 2030
Tenant Option to Renew the Lease until 2045
Nov 2025 Rent Review, linked to RPI, subject to a minimum of 1% and a maximum of 4% per annum Compounded
Approximate Site Area of 0.32 Acres (013 Ha)
Medium Term Residential Redevelopment Potential, Subject to Consents
Prominently Situated in Busy Neighbourhood Location.

Lot
25
Auction
15th May 2025
Rent
£83,000 per Annum Exclusive
Rising to a Minimum of £87,233 pax or a Maximum of £105,931 pax in November 2025 (2)
Status
Available
Guide*
£975,000 - £1,000,000
Auction Venue
Live Streamed Auction
Octopus Bridging Loan for Buyers

Interested?

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Freehold Supermarket and Residential Investment

Let to Co-Operative Group Food Limited until 2030
Tenant Option to Renew the Lease until 2045
Nov 2025 Rent Review, linked to RPI, subject to a minimum of 1% and a maximum of 4% per annum Compounded
Approximate Site Area of 0.32 Acres (013 Ha)
Medium Term Residential Redevelopment Potential, Subject to Consents
Prominently Situated in Busy Neighbourhood Location.

Lot 25
Auction 15th May 2025
Rent £83,000 per Annum Exclusive Rising to a Minimum of £87,233 pax or a Maximum of £105,931 pax in November 2025 (2)
Status Available
Guide* £975,000 - £1,000,000
Sector
Supermarket/Convenience, Residential
Auction Venue
Live Streamed Auction

Property Information

Location

Mile: 2 miles north of Portsmouth, 15 miles south east of Southampton, 75 miles south west of London
Roads: M27, A27, A3, A3(M)
Rail: Cosham Railway Station
Air: Southampton Airport

Situation

The property is situated in a very prominent position within a busy neighbourhood at he junction of Lonsdale Avenue, Knowsley Road and Salisbury Road, approximately 0.5 miles to the east of the town centre which features a JD Weatherspoon, NatWest, Boots, Costa, Knowsley Road Park and a range of local retail businesses.

Tenure

Freehold.

Location

Mile: 2 miles north of Portsmouth, 15 miles south east of Southampton, 75 miles south west of London
Roads: M27, A27, A3, A3(M)
Rail: Cosham Railway Station
Air: Southampton Airport

Situation

Tenure

Freehold.

Description

The property is a former Public House, the ground floor of which has been converted and is operating as a Convenience store. The first floor comprises two self contained, two bedroom flats.

The property benefits from an approximate Site Area of 0.32 Acres (0.13 Ha) upon which is a car park, accommodating approximately 18 spaces. The property may be suitable for residential redevelopment in the medium term, subject to obtaining the necessary consents.

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VAT

VAT is applicable to this lot.

EPC

Retail - Band C. Flat 1 - Band E, Flat 2- Band D

Description

VAT

VAT is applicable to this lot.

EPC

Retail - Band C. Flat 1 - Band E, Flat 2- Band D

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review (Reversion)
Ground First First	Supermarket 2 Bed flat 2 Bed flat	305.18 108.05 78.04	(3,285) (1,163) (840)	CO-OPERATIVE GROUP FOOD LIMITED (CRN: IP26715R) (1)	15 years from 13/11/2015	£83,000	13/11/2025(2) (12/11/2030)
Total Approximate Floor Area		491.27	(5,308)			£83,000 Rising to a minimum of £87,233pax in November 2025(2)

(1) For the period ending 06/01/2024, Co-Operative Group Food Limited reported a revenue of £8,495,800,000., Pre-Tax profits of £8,300,000. and Net Assets of £1,873,900,000..(Source: Annual Return and Accounts for the period ending 06/01/2024 as published at Financial Conduct Authority on 10/04/2025). The tenant has sublet the property.
(2) The Lease provides for a Tenant Option to extend the lease for a further 15 years until 2045. The Lease provides for the rent to be reviewed upward only and in line wit the Retail Price Index, subject to a minimum of 1% and a maximum of 4% per annum compounded. Therefore the rent will increase to a Minimum of £87,233 per annum exclusive or a Maximum of £105,931 per annum exclusive in November 2025.

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.