Union Street, Ryde

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Investment opportunity in Ryde Town Centre.

Details

  • Price: £550,000
  • Bedrooms: 0
  • Tenure: freehold

Full Description

LOCATION
Situated on Union Street, Ryde, this property is located close to the top of Union Street, Ryde’s busy retail and leisure
destination. Neighbours include Olivo’s café/ bar, Hursts, McColls Newsagent + Post Office, Yelf’s Hotel and a number of local boutique lifestyle clothing and homeware brands.

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.

DESCRIPTION
The ground floor and basement of this building is occupied by the Black Sheep Bar, a popular bar and club lounge.

This Grade II Listed property is a semi-detached corner unit and of traditional stone and brick construction with period features and has the benefit of an external courtyard seating area.

This commercial unit has been let on a 15 year tenancy from 2008 at a rent of £34,000 pa.

There are a further 7 hotel rooms plus an office to the first and second floors, which are currently accessed via a flying freehold and utilised as part of Yelf’s Hotel, but will be sold as part of this block as one freehold property.

TERMS
Our client is asking £550,000 for this investment opportunity with the benefit of the tenant in place, showing a net initial yield circa 6.1%.

VIEWING
All viewings to be arranged via HRD Commercial. Please contact 01983 527727.

Estate Agent Details

Commercial Office
138 High Street
Newport

Phone: 01983 527727
Fax:
Email: commercial@hrdiw.co.uk