Commercial property for sale in Portsmouth

DescriptionSubstantial detached property with 10 letting bedrooms, an extensive kitchen diner and cinema room. Externally, front and rear garden terrace, barbeque area with hot tub. LocationSouthsea is a popular resort area with a long beachfront, seafront gardens, a large common, and various amenities around South Parade Pier. The area above the coastline is densely populated with residential and commercial properties giving it a distinct independent feel. To the south lies Clarence Esplanade and the beach. The area also boasts numerous boutique B&Bs and Airbnb venues. Southsea is situated 22 miles (36 km) southeast of Southampton and 21 miles (33 km) west of Chichester. It is administered by Portsmouth City Council. Portsmouth’s local airport is Southampton, located 35 minutes away by car. The city is also an important port for cross-channel and international ferry services as well as cruises and services from Gunwharf Quays to the Isle of Wight. Notable tourist attractions in the area include the Spinnaker Tower, Mary Rose Museum, Portsmouth’s historic dockyard, Southsea Castle, and Southsea Pier. Major employers include BAE Systems, Babcock International, Airbus Space & Defence, Bell Microsystems and IBM. Internal DetailsThe property has 10 boutique ensuite letting bedrooms situated over ground, first, second and third floors. Fixtures & FittingsAll trade fixtures and fittings are included in the sale, except for some personal effects. An inventory will be provided once an offer has been accepted. Letting Accommodation10 boutique ensuite letting bedrooms. External DetailsFront and rear terrace/patio with seating and potential for 'al fresco' dining. Owner's AccommodationThere is no owner's accommodation on site. The OpportunityStattons currently trades on a hybrid model as a self-catering holiday let accommodation for small groups or extended weekend family bookings as well as single or multiple night stays during the week for leisure and corporate guests as desired to increase occupancy. This provides the opportunity for a new owner to continue the hybrid model or focus purely on longer self-catering business or conventional single night stays. The property trades from its website: Trading InformationManagement accounts for the year ending 31st December 2024 show net turnover of £275,962 and net profit of £191,420. * Occupancy: 67.05% * ARR £112.45 * RevPAR £75.40 Development PotentialThe property benefits from a car park which could have further development potential for additional letting bedrooms or alternative uses (STPP). TenureThe Freehold to be sold as a trading going concern (TOGC) inclusive of fixtures and fittings with stock in addition at valuation (SAV). Business RatesCurrent rateable value (1 April 2023 to present): £11,250 RegulatoryPremises Licence. Any prospective purchaser must have a Personal Licence and apply for transfer of Premises Licence at their own expense. Energy Performance Certificates EPC 1

Commercial property for sale in Portsmouth, England

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