Mixed Use Investment For Sale Retail & Residential
Summary
- Rare Freehold Investment Opportunity
- Mixed Use Retail and Residential
- Busy Roadside Frontage
- Potential for Retail Space to be Split or Developed
- Rear Pedestrian Access
Accommodation
The accommodation comprises the following areas:
| Name | sq ft | sq m | Availability |
| Ground - Sales Area | 983 | 91.32 | Available |
| Ground - Rear Sales Area | 133 | 12.36 | Available |
| Ground - Rear Store | 61 | 5.67 | Available |
| Ground - Middle Store | 184 | 17.09 | Available |
| Ground - Rear Office Area | 354 | 32.89 | Available |
| 1st - Flat 151a | 710 | 65.96 | Available |
| 2nd - Flat 153a | 937 | 87.05 | Available |
| Total | 3,362 | 312.34 |
Location
Copnor Road is one of the main arterial routes into and out of Portsmouth linking with the M27, A27 road networks to the north. Copnor Road (A288) is a busy thoroughfare and the subject being is located on the western side of Copnor Road inbetween the roads of Wallington Road to the south and Epworth Road to the north.
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Mainline Stations
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Hilsea19 mins
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Fratton26 mins
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Portsmouth and Southsea31 mins
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Cosham36 mins
Underground Station
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Reading863 mins
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Twyford898 mins
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Tadworth942 mins
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Tattenham Corner954 mins
Further Information
Price Offers in the region of £550,000
Rates Payable Upon Enquiry
Description
The property comprises a ground floor retail space with rear stores and office space which has the potential to be sub-divided or redeveloped to create either two retail units or additional residential space (Subject to Planning).
The upper floors provide 2 two bedroom flats accessed from the side and rear access off Copnor Road and Wallington Road.
The current rental income for the flats is as follows: Flat 151a - £1,000 per calendar month; Flat 153a £950 per calendar month
Terms
Freehold of the property is available at a price of £550,000 subject to two AST's for the flats and with vacant possesion of the shop. The current rental income is £23,400 per annum
We understand that the ERV for the whole building is £48,500 per annum and this would give a gross yield of 8.8% based on the quoting price.
Business Rates & Council Tax
Retail Rateble Value £14,750 per annum
Council Tax Flat 151a and 153a - Band A
EPC
Retail - To be reassessed
Flat 151a - Band D (66)
Flat 153a - Band D (55)
Other Costs
Legal Costs - Each party to bear their own costs incurred in the transaction
VAT - Unless stated otherwise all costs and prices are exclusive of VAT
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