About this listing

The building, which was probably constructed during the early part of the last century, will provide two well-proportioned retail units, benefitting from new shop fronts, together with private toilets.

Location

This well-proportioned double shop unit is conveniently located close to the busy Foyes Corner, amongst a variety of retailers including Tax Consultants, Off Licences, Office Suppliers, Hardware shops and such like.
Access to the M27 (J3) is within about 1.5 miles allowing quick and easy access to all parts of the Solent region and further a-field via the national motorway network.

Retailable value

According to the Valuation Office (voa.gov.uk) the rateable value (RV) for both retail units is £14,000.00. Therefore, the 2023/24 rates payable figure (reflecting 49.9 in the pound) will be £6,986.00. However, both units will need to be separately assessed but it can be expected that the RV, and therefore the payable amount, will be around half the above figures.

We would bring to your attention that tenants will not pay business rates on a property with an RV of £12,000 or less, if that’s the only property their business uses, or properties with a rateable value of £12,001 to £15,000, the rate of relief will go down gradually from 100% to 0%.

Lease Terms

Lease:
A new lease will be offered for a term of six years on a full repairing and insuring basis.
Rent (171):
£12,500 per annum exclusive payable quarterly in advance. There will be an upward only rent review due at the end of the third year.
Rent (169):
£12,500 per annum exclusive payable quarterly in advance. There will be an upward only rent review due at the end of the third year.