07 July 2009
We are continuing to complete property deals and have recently concluded a trio of deals.
The first shop deal is at 240 Kingston Road, North End, Portsmouth where the shop premises total 407 sq.ft. (37.86 sq.m) in addition to a no self-contained 2 bedroomed flat above. The tenant has taken a new 5 year full repairing and insuring lease.
Secondly, Holloway Iliffe & Mitchell have let 165 Elm Grove, Southsea which is a lock up shop of 856 sq.ft. (79.51 sq.m). The quoting rent was £7,500 per annum, exclusive.
In another part of the city, the last deal is at 105a High Street, Cosham and the shop unit totals 228 sq.ft. (20.50 sq.m). The new tenant has signed a new 15 year full repairing and insuring lease with 3 year rent reviews at a rent of £6,000 per annum, exclusive.
Director, Tom Holloway believes that the local economy remains strong He comments: “Local property activity continues to beat, although this is not universal.”