For cash buyers only. This attractive freehold period property is arranged as two one-bedroom self-contained apartments, each sold subject to long term tenancies and on their own 125 year leasehold titles, together with a detached coach house and outbuilding to the rear that offers clear scope for conversion or redevelopment subject to planning permission. The coach house benefits from its own separate access, creating the potential for independent use or an additional future income stream.
The property sits on Melville Street in Ryde’s sought after conservation area, placing it within easy reach of the seafront, town centre amenities and excellent mainland transport links via hovercraft and ferry services. This convenient setting supports strong rental demand and enhances the long term prospects for value add improvements.
The two existing flats generate a combined rental income of £760.40 per calendar month (£9,124.80 per annum), providing an immediate return with significant potential for uplift through refurbishment, reconfiguration or redevelopment of the ancillary buildings subject to consent. Please note that Flat 2 has not been inspected by the auctioneers.
This is a strong opportunity for investors and developers looking for an income producing asset with clear angles for future growth in one of Ryde’s most desirable residential streets.
