Descripción del activo
The Property comprises a building of masonry construction providing accommodation over
5 floors. The building provided ground floor retail space with a basement, first floor ancillary
space and 2/3rd floor of disused office space. The retail space is split into 2 units occupied by
Waterstones and Lloyds, both spaces have been fitted out to tenant specification.
Atributos
Medios
Aspectos destacados de la inversión
Portsmouth is Hampshire’s second largest city
and is a major commercial and retailing centre on the south coast
• 100% prime location on the pedestrianised
Commercial Road
• Situated adjacent to an entrance to the Cascades
Shopping Centre
• Fully let to the strong covenants of Lloyds Bank Plc and Waterstones Booksellers Ltd
• Waterstones rent has been rebased following lease renewal in June 2022
• Second and third floors are currently underutilised and provide opportunity for redevelopment to residential, office or student accommodation, subject to planning and vacant possession
• Freehold
• Offers invited in excess of £2,450,000 (Two Million, Four Hundred and Fifty Thousand Pounds) which reflects a Net Initial Yield of 10.94%
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