LOCATION
Situated in Shanklin High Street this retail unit is in a great location for local traders and nationals alike.
Shanklin has a population of just over 9,000 and is a seaside resort but benefits from tourists all year round. The town also offers the first stop for the Island's train and is within easy reach of other towns including Ventnor, Sandown and Ryde accessed via the main A3055.
DESCRIPTION
Currently occupied by a tenant on a 6 year lease from August 2025 with a current passing rent of £8,000 + VAT per annum. The tenant has traded from this property for the past 20 years and the shop has traded as its current use for the last 50 or so years.
Ground floor unit of approximately 42 sq. m (453 sq. ft) plus basement of approximately 38 sq. m (416 sq. ft). The property offers 2 x parking spaces to the rear accessed via Orchardleigh Road.
The sale includes the freehold of the block, the upper flat having been sold off on a long lease of 999 years from 1973.
SERVICES
The property has mains electric, water and drainage.
TERMS
The property is for sale as an investment with a guide price of £85,000 + VAT.
OUTGOINGS
The VOA shows a rateable value of £7,000. Using the current UBR rates payable would be circa £3,500pa however the property is eligible for small business rates relief. All enquiries to be directed to the VOA or IOW Council.
VIEWING
All viewings to be undertaken by HRD Commercial. Please contact 01983 527727. No direct enquiries to the tenants please.
