Portsmouth & Southsea Station

Retail Premises to Let

The property forms part of the station buildings but is located by the Western entrance which predominantly links the station to Commercial Road. Data from the Office for the Rail Regulator stipulate that in 2017/18, Portsmouth & Southsea has an annual station usage of over 2 million entries and exits.

Description

The premises are suitable for a number of different uses. The premises have the following approximate floor areas, measured on a net internal basis:

Ground Floor 198 sq m 2,133 sq ft.

The premises benefit from own WC facility.

Lease Details

The premises are being offered by way of a new lease to 17th August 2024, subject to a rent review at the end of the third year. The lease will be excluded from the security of tenure provisions of the Landlord & Tenant Act 1954. Standard railway lease terms will
apply. The lease will not permit assignment or subletting. If the tenant requires a longer lease or flexibility of a shorter lease then please advise. Subject to the consent of the Superior Landlord, Network Rail Infrastructure Limited, a longer term may be available.
The incoming tenant will be expected to pay the landlord and if a longer lease is required, the superior landlords costs associated with the grant of this lease.

Rent

£24,000 per annum plus vat along with supporting turnover rent provision. Subject to the landlord's formal approval, a rent free period may be available for the tenant undertaking
agreed investment to the premises.

Insurance

The tenant will be responsible for a contribution of the Building Insurance (Rent). Currently £410 per annum.

Shop Fitting

The incoming tenant will be required to provide detailed annotated shop fit plans and signage proposals demonstrating a high quality shopfit for the Superior Landlord and Landlord’s approval.

Business Rates

The payment of business rates will be the responsibility of the tenant. The Valuation Office
Agency advise that the premise s are Local authority reference 177509794610
The rates liability for the property is as follows: -
Rateable Value: £13,000
Based on the current multiplier of 0.491 for 2019/20 Rates Payable 19/20 rate year: £6,383
*An incoming tenant may benefit from Small Business Rates Relief. Interested parties are to make their own enquiries in this regard.

Utilities

The tenant will be responsible for all utilities consumed and in the event that the operator uses the landlord’s refuse and recycling bins then a contribution will be made towards removal.

User

An end user that will complement the existing tenant mix of the station is required. The existing user is understood to be D1.

Viewing

Viewing is by appointment only.

Ewa Puchowska - Assistant Surveyor
Email : ewa.puchowska@amey.co.uk
Tel : 020 7921 9582

Ian Chalmers –Portfolio Manager
Email : ian.chalmers@amey.co.uk
Tel : 020 7921 2935