Summary - 36-38, PALMERSTON ROAD PO5 3QH
1 bed 1 bath Restaurant
Prominent Southsea restaurant with immediate income but only nine years unexpired lease.
Large high-street restaurant unit with wide frontage and outdoor seating
A substantial mid-20th century high‑street restaurant unit on Palmerston Road, Southsea’s main retail thoroughfare. The ground-floor restaurant benefits from a wide recessed frontage, outdoor seating area, and strong pedestrian footfall close to national multiples including Waitrose, Boots and Costa.
The property is let to Loungers UK Limited on a lease expiring 17/03/2034 with a current passing rent of £75,000 per annum — offering immediate rental income and established trading history. Utilities and digital connectivity are strong (fast broadband, excellent mobile signal), and there is no flood risk.
Material considerations for buyers and funders: the commercial lease has only nine years unexpired which may restrict mortgage lending and reduces the lease length attractive to many investors. The residential accommodation above is sold off on a long lease to the council, so there is no upstairs ownership to control. Local crime levels are reported as very high, which could affect evening trade and insurance costs.
This is a clear mid‑market investment opportunity: strong location and tenant security for the short to medium term, with a notable reversion risk in 2034. Suitable for purchasers comfortable with leasehold investments and planning for lease renewal, consenting strategies, or covenant-led re-letting when the lease approaches expiry.
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