Freehold of industrial unit opposite Fratton Park to go under the hammer next month
A freehold opportunity will be presented at auction
The freehold of an industrial unit opposite Fratton Park will be sold at auction next month.
The freehold of a unit that houses Speedy Services, in Rodney Road, is going to be sold at an Acuitus auction on June 11 with the guide price of between £1.6m and £1.65m.
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The 11,620 sq ft industrial unit and trade counter sits adjacent to Portsmouth Football Club’s Fratton Park, and is currently fully let to the business on a renewed lease until 2035, with no break clause. It generates £114,000pa, with a CPI-linked rent review scheduled for 2030.
John Mehtab, of Acuitus, said: “This area is set to undergo regeneration and see increased visitor numbers as part of Portsmouth FC’s stadium expansion plans, which will only enhance the appeal of this asset.
The individual freehold ground rents on six neighbouring industrial units at Dundas Industrial Estate will also be offered at the auction, with guide prices ranging from £40,000 to £95,000+.
Mr Mehtab added: “Portsmouth’s high-quality logistics and transport infrastructure makes it an ideal location for investors looking to enter the industrial sector, which has remained a popular asset class over the past 12 months.”
The Acuitus auction will take place at 1pm and will be broadcast via livestream on the Acuitus website, with bidding available online, by telephone and by proxy.