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DEVELOPMENT
DEVELOPMENT For Sale Fareham
PROPERTY ID: 150576
PROPERTY TYPE
DEVELOPMENT
STATUS
AVAILABLE
SIZE
4,080-379 sq.ft
Key Features
Adjacent to the main arterial route through Portchester on the A27 in the centre of Porchester.
Situated on the pedestrianised West Street.
Let in its entirety to Tesco Stores Limited on a 15 year lease from and including 27th November 2020 to 26th November 2035 on a full and repairing basis
Current passing rent of £70,000 per annum.
The lease benefits from a rent review of the fifth and tenth anniversaries of the lease term commencement date.
The rent is to be reviewed on an Open Market Value (OMV) basis, with the total rental increase being capped at 112.5% of the current passing rent. The November 2025 rent review is outstanding.
Long Leasehold of 999 years from September 2020
Strong PLC Covenant.
Offers in excess of £875,000 (Eight Hundred and Seventy Five Thousand Pounds) are invited for the long leasehold interest, subject to contract and exclusive of VAT.
Property Details
The property has a brick façade with a glazed shop frontage to the ground floor and benefits from a flat roof.
Internal accommodation includes sale floor, bakery, storeroom, small office, kitchen/break out area and WCs.
Porchester is a suburb of Portsmouth. Portchester is 13 miles to the East of Southampton,
43 miles to the West of Brighton & Hove and 60 miles to the South West of London.
Portchester benefits from excellent road connection being in close proximity to the A27 and M27 which provide easy access to Southampton, Chichester and Brighton & Hove.
Portchester train station offers excellent rail connectivity, providing regular services to Southampton, Portsmouth, Brighton and London Waterloo.
Internal accommodation includes sale floor, bakery, storeroom, small office, kitchen/break out area and WCs.
Porchester is a suburb of Portsmouth. Portchester is 13 miles to the East of Southampton,
43 miles to the West of Brighton & Hove and 60 miles to the South West of London.
Portchester benefits from excellent road connection being in close proximity to the A27 and M27 which provide easy access to Southampton, Chichester and Brighton & Hove.
Portchester train station offers excellent rail connectivity, providing regular services to Southampton, Portsmouth, Brighton and London Waterloo.
About the Agent
Stiles Harold Williams Partnership LLP
See Agent's Other PropertiesDEVELOPMENT Unit
£875,000 Freehold
12-14 West Street, Fareham, PO16 9UZ
DEVELOPMENT -
AVAILABLE
4,080-379 sq ft
379-35 sqm
Show phone number
Enquiry Form
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