151 High Street, Southampton, Hampshire, SO14 2BT

Description

The subject property is located on the High Street in the centre of Southampton within a lively dining and leisure area. Westquay Shopping Centre and Above Bar is located approximately half a mile north and within 10 minute walking distance.

The surrounding area has undergone large scale regeneration which included the re-development of the fruit market into a complex comprising 84 one-bedroom and 195 two-bedroom apartments.

This is in addition to the impending re-development of the derelict Bargate Centre into a mixed use scheme comprising retail, dining and residential accommodation.

The vacant retail and office space comprises 4 floors including basement, ground, 1st and 2nd floors, with a main sales area on the ground floor, along with mostly office and storerooms across the other floors.

Accommodation

Basement 717 sq.ft (66.60 sq.m)
Ground Floor 706 sq.ft (65.60 sq.m)
First Floor 674 sq.ft (62.60 sq.m)
Second Floor 518 sq.ft (48.10 sq.m)
Total Internal Area 2,615 sq.ft (242.90 sq.m)

Planning

Under the new planning regulations, we believe the current permitted use to be use class 'E' which includes uses such as retail, professional services, cafe`, health clinics, indoor recreation/sport and office. All parties are advised to make their own enquiries of the local authority for confirmation.

EPC Text

Asset Rating - TBC

Rating

Rateable Value £19,250
Source The 2022/2023 small business multiplier is 0.499 (4.99p payable per £1). This determines what business rates are payable. All parties are advised to make their own enquiries for confirmation. *If you qualify as a 'small business' you may be eligible for substantial relief in connection with business rates payable. We advise all parties speak to the local authority in the first instance for confirmation.

Terms

Available by way of a new full repairing and insuring lease for a term to be agreed at £22,000 per annum exclusive of rates VAT (if applicable) and all other outgoings.
Note: There is to be a service charge levied to cover communal costs
Note: It is understood VAT is/is not payable on rents.

All interested parties should be aware of the Code of Leasing Premises 1st Edition, February 2020, for England and Wales, which recommends that they should seek professional advice from property professionals before agreeing or entering into a business tenancy.