About this property
A great opportunity to purchase an investment block in Niton to be bought as one or split in two lots.
Niton is a small village and offers a convenience store, a school and public houses. The beaches are a short drive away as is the coastal town of Ventnor which offers further amenities.
Westcliffe Chalets, a secluded private development set in beautiful gardens which are situated on the southern side of the Isle of Wight, just south of the village of Niton. The site, which is only suitable for adults, has 26 individually owned chalets, of which only 15 are currently available for rental so the area is always quiet and peaceful.
The chalets, most of which are south-facing, are built on three levels and surrounded by well-tended gardens with an abundance of colourful plants and shrubs inspired by the botanic gardens at nearby Ventnor.
Westcliffe provides an ideal base from which to explore the island, with super walks down to the local beach, St Catherine’s Lighthouse or along the coastal path that runs right past the front gates. The site lies within an area which has AONB status (Area of Outstanding Natural Beauty) and is a 15 minute walk inland from the Heritage Coast, much of which is National Trust land.
The village of Niton, which is just a 10 minute walk from Westcliffe, has an excellent general store, a chemist and a post office which also incorporates a tearoom.
There are two local pubs within easy walking distance: The White Lion which offers both fine food and real ales is situated in the village, and the Buddle Inn, with a similar menu, is a ten minute walk towards the coast.
The nearest town is Ventnor, a Victorian seaside resort which is a 15 minute drive, whilst the Island’s capital, Newport, where you will find all the major stores, is a half hour trip.
Offered for sale is this freehold site comprising 26 chalets. 24 of these chalets are are sold off on long leases (a schedule of leases can be provided). The remaining two are owned by the vendor and provide the following accommodation:
Unit 1: Open plan living/diner/kitchen (4.04m x 2.74m), double bedroom (2.65m x 2.11m) and shower room. Seating area to the front with sea views.
Unit 13: Kitchen/diner (2.74m x 4.06m), living room (2.74m x 3.99m), bedroom 1 (2.71m x 2.07m), bedroom 2 (2.72m x 3.0m), bathroom with WC & separate WC. To the front of this unit is a large deck with sun room (4.04m x 3.53m).
All chalets are south facing and benefit from communal grounds, gardens and secure car park.
The site benefits from the income generated from the annual ground rents, approximately £2,400 per annum. The leases state an increase of the ground rent every 25 years. There is also a rental income from chalets 1 & 13; approximate total rental income £11,500 per annum.
There is a service charge levied to all owners on site, this covers management fees and any maintenance for the site, total service charge approximately £4,500 per annum.
The site will be split into two lots:
Freehold of the site with the benefit of the ground rents in place and two chalets with vacant possession – £400,000
The freehold of the site with the benefit of the ground rents in place – £275,000
All viewings strictly via HRD Commercial. Please contact 01983 527727.