About this property
Great opportunity to purchase a trading antique store and coffee shop on a prominent corner location.
LOCATION
Located on Simeon Street, the property is just a short walk from the Town Centre, the Esplanade and Ryde’s extensive sandy beaches. The unit enjoys a prominent corner position which benefits from a high foot fall with walkers, locals and tourists alike.
Ryde is the biggest town on the Island by population, circa 32,000 (2011 census) and offers great transport links across the Island with Ryde Pier housing the Fastcat to Portsmouth.
DESCRIPTION
Offered for sale is Madeira, a well-known trading antique store and coffee shop.
The unit benefits from dual aspect windows and measures approximately 50 sqm consisting of retail space, coffee bar & seating area, the basement and a separate WC.
The current owner has a café license for 35% of the shop which generally consists of approximately 15 covers and have previously served cold food such as cakes and sandwiches. All items in the shop will be included in the sale, including the Fracino coffee machine and ICR till.
SERVICES
The unit benefits from electricity, water and drainage.
TERMS
Our client is asking Guide Price £109,950 for the fixtures, fittings, goodwill, stock and the remainder of the lease at circa 676 years.
There may also be the opportunity to lease the unit subject to separate negotiations.
OUTGOINGS
The VOA shows a ratable value of £4,950. The rates payable would be circa £2,500 per annum. The property may be eligible for some reduced level of rates relief, all enquiries for this should be directly with the Valuation Office Agency or IOW Council.
VIEWING
All viewings to be arranged via HRD Commercial. Please contact 01983 527727 or commercial@hrdiw.co.uk.
