About this property
Opportunity to purchase a long leasehold investment.
Situated on a prominent site on the corner between Sandown High Street and Pier Street is this smartly presented property within easy reach of the seafront and Sandown’s extensive sandy beaches.
Sandown is a town to the East of the Island and boasts some of the Islands sandiest beaches. There is a promenade that stretches from the bottom of Culver Downs to Shanklin Old Village.
The town of Sandown offers various shopping facilities including Sainsbury’s and Co-op and various boutique stores and eateries. With some recent and current inward investment and developments Sandown is undergoing a regeneration of sorts and provides a lovely location for tourists and locals alike.
Offered for sale is the premises as an investment opportunity. The property is held on a long leasehold basis and the ground floor is currently occupied by a tenant on the remainder of a 7 year lease.
The property offers ground floor commercial plus a large basement for storage. There is also access to a rear courtyard and store with side pedestrian access to the High Street.
There are two apartments above which are held under the long leasehold title, these have both been sold off on 800 year leases and both pay a ground rent of £25 per annum each.
The ground floor unit measures approximately 82 sq m (882 sq ft) and the basement measures approximately 35 sq m (376 sq ft).
The property is available on a 999 year lease from 1853. Our client is asking £160,000 for this investment opportunity.
Each party to be responsible for their own legal costs.
All viewings to be arrange via HRD Commercial. Please contact 01983 527727. Due to the nature of the tenancy in place we require at least 48 hours notice for viewings.