CB Richard Ellis has let a retail unit at 59 Palmerston Road, Southsea to international sandwich franchise chain Subway. The premises are prominently located within Southsea town centre on the corner of Clarendon Road and Palmerston Road and visible from the pedestrianised area od Palmerston Precinct. Subway has taken a new 15-year lease at a commencing rent of £27,000pa.

David Miller, Associate Director at CBRE comments: "With the relocation of Knight & Lee to the Northern Quarter, Southsea has been experiencing some uncertainly in retail terms as occupiers wait to see how the area develops. This letting will breathe new life into this busy area within the town centre. We are about to refurbish the adjacent retail unit and the Subway letting will focus retailer attention on the area and we anticipate renewed interest in the next door unit following the completion of the refurbishment"

Mike Timbury of Subway added "Subway has now surpassed the 1,000 store trading (July 2007) which is a landmark achievement. We are now focusing on having 2010 stores trading by 2010 and this milestone is a credit to the success of our brand over the past 11 years"