Summary - 2, ST GEORGES BUSINESS CENTRE, ST GEORGES SQUARE PO1 3EY
1 bed 1 bath Office
**Standout Features:**
- **Investment Opportunity:** Currently let to HTP Apprenticeship College Ltd with a passing rent of £24,500 per annum.
- **Long Leasehold:** 966 years remaining on the lease.
- **Net Initial Yield:** 8.56% after purchaser's costs.
- **Size:** A generous 1,234 sq ft self-contained office space across two floors.
- **Location:** Positioned within the St Georges Business Centre, adjacent to Portsmouth Harbour Station, and close to the city’s amenities.
**Potential Concerns:**
- **High Crime Rate & Area Deprivation:** Located in an area classified as high crime and very deprived.
- **Rolling Break Option:** Landlord can terminate with 12 months' notice from January 2025.
**Summary:**
This sizable terraced commercial office unit, nestled in the established St Georges Business Centre, presents a lucrative investment opportunity with a secure tenant already in place until 2029. Spanning over 1,200 sq ft, the property features modern office layouts suitable for educational or corporate use, complete with kitchenette and two W/Cs. The location is strategically placed near essential transport links and local amenities, ensuring convenient access for staff and clients alike.
While the area is identified as having high crime rates and deprivation, the fast broadband speeds and excellent mobile signal present opportunities for versatile usage, from administrative work to educational programs. With a favorable lease remaining and competitive yield, this unit provides potential buyers with an affordable commercial venture to capitalize on. Act quickly; properties with this level of income and location appeal do not remain on the market for long!
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