LOCATION
Located in 'Upper Ventnor' this property offers the only convenience shopping in this large catchment area. The property is located in a residential area with schools being within a short walk.
Ventnor is a coastal town to the South of the Island and has a population circa 6000 (2021 census) and this is substantially boosted by the many visitors and locals alike wishing to enjoy the arts and fine dining culture which the town has become renowned for.
DESCRIPTION
Offered for sale is a mixed use investment unit offering the following accommodation:
Ground Floor - retail space with staff areas of circa 67 sq m (721 sq ft).
First Floor - Living/Dining Room, Kitchen, Bathroom, 2 x Double Bedrooms. Decking, steps to rear garden. Gas central heating.
The property is currently leased under a 20 year FRI, the current passing rent is circa £27,000 per annum. Full details can be provided to bona fide applicants.
TERMS
The property is available to purchase freehold with the benefit of the tenant in place. Guide Price £245,000. This gives a gross initial yield of circa 11%.
OUTGOINGS
The ground floor has a rateable value of £3,450, rates payable circa £1660 per annum.
VIEWING
All viewings to be arranged via HRD Commercial. Please contact 01983 527727 or email commercial@hrdiw.co.uk. Due to the nature of the tenancies in place 72 hours notice will be required for viewings.
