Lumps Fort, Southsea - Concession Business Opportunity

Portsmouth City Council 'the Authority' is inviting tenders from Operators for the running of high quality business activities at Lumps Fort, Southsea. The Fort dates from the 18th Century and is a locally listed building with significant historical importance.

Located on Southsea seafront, the Fort is home to the Southsea Rose Gardens, a beautiful and peaceful garden of reflection and the Model Village. Adjacent is Canoe Lake which is a busy and vibrant destination for families and children, particularly during the summer months.

The area, along with the numerous sporting facilities available nearby, sees significant footfall along all pedestrian routes. The Authority is offering a floor space of approximately 213m2 (2,300ft2) at Lumps Fort.

The premises consist of two large open spaces and several small spaces off the main area. There may also be opportunity to utilise outside space.

The Authority is seeking an Operator who can deliver a high quality, commercial offer in keeping with the premises' location which maximises the premises' unique setting and is complementary to the local area. The Authority will require the Operator to work collaboratively on mutually incentivised open book partnership basis.

The Operator will be required to cover all capital costs including for fit out, statutory approvals, service connections, etc. and all ongoing maintenance costs in accordance with the lease agreement. The Authority's preference is for the Operator to have opened the new business venture by Easter 2019 but no later than Summer 2019.

The initial lease term will be for 10 years extendable up to a maximum total term of 15 years in increments to be agreed. The Authority's preference will be for the lease and associated contract to include for a mid-point break clause.

The Authority is seeking a guaranteed a guaranteed rental income of ?125,000 over the initial 5 years. The Authority's preference is to achieve a rental income from year 1 but will consider proposals that include for a stepped arrangement, subject to the achievement of the total rental income value stated over the term.

The Authority's preference is to include for a rent review clause to be applied every 3 years in line with standard practice but is open to offers which do not include for this. The Operator will be required to pay 5% of turnover as a minimum to the Authority.

The Authority's preference is for the turnover share to apply from the outset. Additional information: Portsmouth City Council is currently in the process of seeking expressions of interest from Operators for the running of high quality business activities at Lumps Fort, Southsea.

The full details and ability to express an interest will be via our e-sourcing system Intend. This filepath will take you to the relevant area of Intend, https://in-tendhost.co.uk/portsmouthcc/aspx/Tenders/Current Once on the page you can either scroll down or use the search function to find the relevant project.