Acquired
Portsmouth – Office with Planning for 2 Flats
9 Arundel Street, Portsmouth, Hampshire PO1 1NBVirtual Freehold Retail Ancillary with Residential Development Opportunity
Investment Consideration
- Comprises first floor self-contained retail ancillary. Second floor is void
- Prior approval granted for conversion of First Floor to 2 x Studio Flats
- Additional development potential to extend and create second and third floor, subject to obtaining the necessary consents
- Pedestrianised city centre location with occupiers close by including Tesco Superstore, PureGym, Greggs, Wilko, HSBC, Costa Café and more.
Key Features
Tenure
Leasehold
VAT
VAT is Applicable
Property Description
Comprises first floor self-contained retail ancillary accessed from the rear, providing the following accommodation and dimensions:
First Floor Ancillary: 68.50 sq m (737 sq ft)
Second Floor: Void
Development Opportunity:
Prior approval granted in March 2021 for the change of use of first floor from ancillary retail (Class A1) to 2 x 1-bedroom self-contained flats (Class C3), providing the following accommodation and dimensions:
First Floor:
Studio Flat 1 - 35.20 sq m (379 sq ft)
Open plan kitchen/living room, Bathroom, Storage
Studio Flat 2 - 32.80 sq m (353 sq ft)
Open plan kitchen/living room, Bathroom, Storage
Total residential area: 68 sq m (732 sq ft)
Further development potential to extend into the second floor void and create additional third floor, subject to obtaining planning.
For more information please refer to Portsmouth Planning Portal:
www.portsmouth.gov.uk - REF: 21/00009/PACOU
First Floor Ancillary: 68.50 sq m (737 sq ft)
Second Floor: Void
Development Opportunity:
Prior approval granted in March 2021 for the change of use of first floor from ancillary retail (Class A1) to 2 x 1-bedroom self-contained flats (Class C3), providing the following accommodation and dimensions:
First Floor:
Studio Flat 1 - 35.20 sq m (379 sq ft)
Open plan kitchen/living room, Bathroom, Storage
Studio Flat 2 - 32.80 sq m (353 sq ft)
Open plan kitchen/living room, Bathroom, Storage
Total residential area: 68 sq m (732 sq ft)
Further development potential to extend into the second floor void and create additional third floor, subject to obtaining planning.
For more information please refer to Portsmouth Planning Portal:
www.portsmouth.gov.uk - REF: 21/00009/PACOU
Tenancy Description
Tenure:
Long Leasehold. To be held on a 999 Year Lease from completion at a ground rent of peppercorn.
Long Leasehold. To be held on a 999 Year Lease from completion at a ground rent of peppercorn.
Location Description
The city of Portsmouth is a major south coast naval base, ferry port and university city, and is also an important retail and commercial centre. The city has a resident population of some 175,000 and benefits from excellent road communication, being served by the M27, M271 and A3(M) Motorways and the A27 dual carriageway. There are also regular rail services to London and major South West towns. The property is situated on the north side of the pedestrianised Arundel Street, close to its junction with Commercial Road in the heart of the city centre with occupiers close by including Tesco Superstore, PureGym, Greggs, Wilko, HSBC, Barclays, Costa Café and many more.