The property comprises 3 shops and 4 flats, and has been managed by Holloway Iliffe & Mitchell for in excess of 20 years. The property, was given over to Holloway Iliffe & Mitchell in 1994 and since then Stuart Mitchell has undertaken all management issues on this property relating to lease renewals, rent reviews, lettings, maintenance, refurbishment, rating and dilapidations.
Stuart Mitchell reports “This has been an extremely privileged instruction to have over such a long period of time and I am most grateful to our clients for their loyalty, hopefully reflecting the work I have provided for them over these years”.
The building has now been sold to Charles Marks Holdings Ltd who are intending to continue to upgrade the building, providing more modern facilities to the upper parts and in time dealing with lease issues on the ground floor.
Stuart Mitchell continues “There is still an immense amount of strong, local demand for investment opportunities in our region and even with the political unrest as a result of Brexit, many are taking the view that occupier demand remains strong and property reflects good returns on capital.
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FAQ’s
What does the sale of the Palmerston Road investment property mean?
The sale of the investment property on Palmerston Road, Southsea demonstrates continued investor demand for well-located commercial assets in one of Portsmouth’s most established retail and business districts.
Why is Palmerston Road a popular commercial investment location?
Palmerston Road is Southsea’s principal retail destination, home to a mix of national retailers, independent businesses, cafés, and restaurants. Its high footfall and prominent location make it attractive to commercial property investors.
Can Holloway Iliffe & Mitchell help with commercial property investments?
Yes. Holloway Iliffe & Mitchell advises investors, landlords, and businesses on commercial property sales, acquisitions, lettings, valuations, asset management, and investment opportunities across Hampshire and the South Coast
What types of commercial properties does Holloway Iliffe & Mitchell handle?
The firm specialises in office, retail, industrial, warehouse, investment, and development properties, offering expert guidance throughout the buying, selling, letting, and management process.
