Buyer sought for £2.5m Portsmouth retail investment
A retail investment at 137-143 Commercial Road in Portsmouth has been brought to market with an asking price of £2.5m.
The property comprises a large retail unit arranged over four floors and extending to a total area of 61,127 sq ft.
It is let to H&M on a new 10-year lease commencing 7th March 2025 with rent tied to 8% of the property’s gross turnover. Based on the latest turnover certificate, the estimated rent is £340,000 per annum.
The property benefits from dual frontages on to Commercial Road and the Cascades Shopping Centre. Nearby retailers include Primark, Superdrug, Boots, Next, River Island, and JD Sports.
Of the property’s four floors, H&M trade from the ground and first floors, and use the second for storage and part of the third for plant. The remainder is a lift shaft housing for H&M accessed externally on the fourth floor.
The city of Portsmouth is renowned for its maritime history, cultural scene, and retail environment. It has a population of approximately 210,000 people, making it the second most densely populated city in the UK. The wider area has a population of over 850,000, with a significant shopping population drawn in from both residents and tourists.
Cited Property and Vail Williams have been appointed to find a suitable buyer.