Holloway Iliffe & Mitchell - Retail Sale - Portsmouth

Date: 18 Aug 2008

Bucking national headlines, Portsmouth based commercial property agents, Holloway Iliffe & Mitchell have concluded a number of retail property deals implying that key headlines don't necessarily tell the whole story.

The deals have been done across the region including Southsea where a unit of 469 sq.ft. at 144 Albert Road was sold for £162,500 to a private purchaser.

Holloway Iliffe & Mitchell also sold two separate units in Gosport as well. 60 Gregson Avenue, which is retail premises on the ground floor of 649 sq.ft. with a two floor maisonette above was purchased by GCM Property Maintenance Ltd for a sum of £175,000.

The other unit in Gosport, located in the High Street completed recently and Holloway Iliffe & Mitchell sold the ground lease. No. 38 totals 944 sq.ft. and was purchased for £87,500 by John Bowles trading as Sole Connection.

Rounding off the action, is the letting of 6 Edinburgh Road, Portsmouth where the shop totals 893 sq.ft. and Jark Recruitment took a new 10 year full repairing and insuring lease at a rent of £29,500 per annum.

Associate Director, Tom Holloway believes that too much can be read into national headlines that isn't representative of the local economy.

He said: "Portsmouth and the local region are well placed to weather any flatness in the economy." He continued: "Business seems to be cautious, but there is buoyancy in places."

144 Albert Road, Southsea