151-153 Copnor Road
Copnor, Portsmouth, PO3 5BSThe Space
Mixed Use Investment For Sale Retail & Residential
At a glance
| Property Type | Investment / Other / Residential / Retail |
| Tenure | For Sale |
| Size | 3,362 sq ft |
| Price | Offers in the region of £550,000 |
| Business Rates | Upon Enquiry |
| Energy Performance Rating | Upon enquiry |
Hilsea
19 mins
Fratton
26 mins
Portsmouth and Southsea
31 mins
Cosham
36 mins
Reading
863 mins
Twyford
898 mins
Tadworth
942 mins
Tattenham Corner
954 mins
Key Points
- Rare Freehold Investment Opportunity
- Mixed Use Retail and Residential
- Busy Roadside Frontage
- Potential for Retail Space to be Split or Developed
- Rear Pedestrian Access
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
Available area
The accommodation comprises the following areas:
| Name | sq ft | sq m | Availability |
|---|---|---|---|
| Ground - Sales Area | 983 | 91.32 | Available |
| Ground - Rear Sales Area | 133 | 12.36 | Available |
| Ground - Rear Store | 61 | 5.67 | Available |
| Ground - Middle Store | 184 | 17.09 | Available |
| Ground - Rear Office Area | 354 | 32.89 | Available |
| 1st - Flat 151a | 710 | 65.96 | Available |
| 2nd - Flat 153a | 937 | 87.05 | Available |
| Total | 3,362 | 312.34 |
The 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
