Southampton – Retail Unit in Busy Regeneration Area To Let / For Sale FeaturedReduced Terms

Southampton, Hampshire, United Kingdom, SO14 3HQ
Type
Retail Space
Accomodation
Guests
Bedrooms
Bedrooms / Beds

About this listing

This substantial retail unit, being the former Anchor Public House, is some 89 feet deep and benefits from two overhead natural daylight panels, with part stone flagged and natural timber flooring, creating an attractive ambience to what is potentially an appealing and historic space.

To the rear of the unit, there is access to the basement, the toilets, and kitchen areas. There is additional storage accommodation in the basement (not measured).

All will need fill refurbishment as is currently offered in a “shell and core condition, enabling new occupiers to fit-out the accommodation to their own specifications.

Ground floor: 1,465 square feet / 136.10 square metres

Basement: 1,155 square feet / 107.30 square metres (not measured).

Prices

Features

Amenities

  • Air Conditioning
  • Back Office
  • Bathroom
  • Electricity
  • Heating
  • Lighting
  • Loading Dock
  • Outdoor Space
  • Racks
  • Sound System
  • Storage Space
  • Wi-Fi

Facilities

  • Customer Parking
  • Reception
  • Security
  • Staff Parking

Location

The property is situated at the eastern end lower East Street, an area that is witnessing an exceptional amount of regeneration and redevelopment in central Southampton. This includes the demolition of many adjoining buildings on East Street (with the exception of the Debenhams departmental store). Within 100 yards is a £27 million mixed-use scheme, predominantly 132 one and two-bed apartments for the rented sector, being constructed by the National Regional Property group for Grainger on the former Tuner-In site; conversion of Capital House by Kier for 423 room student accommodation to be managed by CRM, in addition to provision of new leisure and retail space. Adjoining are attractive champagne coloured brick-faced buildings currently under construction for additional student accommodation. Apart from a substantial multi-storey car park, Lidl’s are understood to be taking space in the new development. Consequently, this is a rare opportunity to get established in what will be a very busy and high foot-fall location, providing retail or dining space for a growing audience.

Retailable value

According to the Valuation Office (voa.gov.uk) the rateable value is £6,500.00, and therefore the current (2018/9) rates payable figure would be £3,120 (the rate in pound is 0.48 for RV figures less than £51,000). Any intended occupier should satisfy themselves as to the accuracy of this information.

Lease Terms

Rent: £25,000 per annum exclusive payable quarterly in advance, plus VAT if applicable. A new lease will be granted for a term by agreement, subject to upward only rent reviews at the end of each third year. The tenant will be required to contribute towards the upkeep and insurance of the premises.

Tenancy

A new lease will be granted for a term by agreement, subject to upward only rent reviews at the end of each third year. The tenant will be required to contribute towards the upkeep and insurance of the premises.

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