151-153 Copnor Road

Available

Price: Offers in the region of £550,000

Media

Contact

Tom Holloway

Tel: 023 9237 7800

Mobile: 07990051230

Email: tom@hi-m.co.uk

Key Features

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

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.

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

Available Area

Name	Sq Ft	Sq M	Rent	Availability
G - Sales Area	983	-	-	Available
G - Rear Sales Area	133	-	-	Available
G - Rear Store	61	-	-	Available
G - Middle Store	184	-	-	Available
G - Rear Office Area	354	-	-	Available
1st - Flat 151a	710	-	-	Available
2nd - Flat 153a	937	-	-	Available

Enquire Now

You can contact one of our agents by phone, email, or complete the form below.