PROPERTIES

146/148 Commercial Road, Portsmouth PO1 1EX

Price£2,700,000

PDF DETAILS

146/148 Commercial Road, Portsmouth PO1 1EX

  • Price£2,700,000
  • Income£343,000
  • Yield11.93%
  • SectorOther
  • StatusAvailable
PDF DETAILS

High Yielding City Centre Investment with Substantial Under Utilised Ancillary Space and Upper Parts

Summary

  • Located in Portsmouth, the south coast’s main commercial and retailing centre.
  • Situated in a 100% prime position on the eastern side of the pedestrianised Commercial Road directly opposite Primark and the Cascades Shopping Centre.
  • Over 97% of the income is secured to Vodafone Ltd and Costa Ltd,producing £343,000 per annum.
  • Costa and Vodafone have continued to pay rent throughout the pandemic.
  • Freehold
  • Substantial ancillary space and upper parts currently underutilised by the tenants
  • Ground floor ancillary space and upper parts may be suitable for alternative use subject to necessary consents.
  • Offers in excess of £2,700,000 (TWO MILLION AND SEVEN HUNDRED THOUSAND POUNDS) subject to contract and exclusive of VAT.
  • A purchase at this level reflects a net initial yield of 11.93% after allowance for purchasers costs of 6.41%.