Single-let retail unit

Portsmouth is a vibrant coastal city located in Hampshire, on the southern coast of England, renowned for its rich maritime history, cultural scene, and thriving retail environment. The population of Portsmouth is approximately 210,000 people, making it the second-most densely populated city in the UK. The wider Portsmouth urban area has a population of over 850,000, with a significant shopping population drawn from both local residents and tourists. Held on two separate long leasehold interests at peppercorn. The property occupies a 100% prime position with frontages on to both Commercial Road and Cascades Shopping Centre. The property comprises a large retail unit, arranged over four floors, totalling 61,127 sq. ft. (5,679 sq. m). The property is let to H&M on a new 10-year lease commencing 7 March 2025 (TOTB Year 5 and 7). The rent is linked to 8% of gross turnover. Based on the latest turnover certificate, the estimated rent is £340,000 p.a.