Office for sale

Lansdowne House, 25-26 Hampshire Terrace, Portsmouth PO1

Description

The property is a mid-terrace, mixed-use development which consists of three floors, the ground floor was previously used as an office, and the 1st and 2nd floor are residential flats. The 2nd floor flat is sold off on Long Leasehold. The property is positioned within Portsmouth's University Quarter and is 685m from Portsmouth and Southsea Station.

The ground floor consists of mostly open plan desk space (with few fixtures remaining), kitchenette space, and WC. The 1st floor residential is a recently renovated two-bedroom flat with one ensuite shower room; bathroom with bath and shower; lounge space, and kitchen. Both have the benefit of rear access.

There is parking onsite with a current allocation of 3 for the commercial and 1 for the residential.

Location

The property is located in Portsmouth which has a substantial commercial hub and port situated along the south coast forming part of the expanding south coast conurbation.

The property is positioned on the east side of Hampshire Terrace, and the southern end of the road just before it adjoins to Landport Terrace. Access to the rear of the property (residential) is located on Landsdowne Street immediately to the east.
Hampshire Terrace is a busy arterial road within Portsmouth leading from M275 to Southsea through the Western side of Portsmouth.

Terms

Freehold available for purchase at £550,000.

The Freehold title benefits from £100 per annum in ground rent from the Long Leasehold interest.

Rates

Commercial - Business rates: £14,250; source voa/hmrc.
Residential - Council Tax Band is unknown following renovation.

You are advised to speak with the local authority on matters pertaining to business rates and council tax.

Other Costs

Legal Costs - Each party to bear their own costs incurred in the transaction.
VAT - Unless otherwise stated all costs, prices and rents are exclusive of VAT.
VAT - We understand the property is not elected for VAT.