Wood Street, Ryde, PO33

Situated on the corner of Wood Street and Trinity Street, Ryde, this investment property is within a very short walk to the town, Esplanade and beaches. Ryde is the largest town on the Island by population (circa 32,000 2011 census) and boasts miles of glorious sandy beaches. There is the transport hub close by with train and bus links to the rest of the Island plus Fastcat and Hovercraft to Portsmouth. Ryde Town Centre is a busy retail and leisure destination offering convenience shopping, popular eateries and wine bars, a number of local boutique lifestyle clothing and homeware brands.

Offered for sale is this 13 room licensed HMO (with 6 let rooms). A semi-detached property with off road parking for circa 4 vehicles and gardens to the front side and rear. The layout of the property offers HMO and residential accommodation over 3 floors. Lower Ground Floor The Garden Flat - offers a 3 bedroom apartment with kitchen/diner, living room and bathroom. This unit is warmed by gas central heating. Ground Floor A welcoming lobby provides access to the HMO rooms. Rooms 1, 2, 3, 5 & 7. There is a shared shower and WC to this floor. First Floor Rooms 8, 9, 10 & 12. Shared shower and 2 x WC's. Room 6 is currently being utilised by the owner of the building as an art studio but could be incorporated back into the HMO as another letting room. Room 12 is currently vacant and undergoing renovation. The current income for the property is circa £34,320pa with the potential to increase this by letting rooms 6 and 12 once the renovation has been completed. A further opportunity to let the 3 bedroom lower ground floor apartment for circa £9,000pa. A full schedule of income can be shown upon request. The first and second floor rooms fronting Wood Street and Trinity Street have lovely views over Ryde towards the Solent.

The property benefits from electric, water and drainage, The lower ground floor apartment benefits from gas fired boiler.

Our client is asking £450,000 for this Freehold investment opportunity.

Due to the nature of the tenancies in place viewings will require at least 48 hours notice. Please contact 01983 to 565658 to arrange a viewing.

Parking for 4 cars.

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