Union Street, Ryde, PO33 2LG

Pub/Bar/Club for sale

£550,000


Investment opportunity in Ryde Town Centre.

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.

Agents Notes Our description of any appliances and/or services (including any central heating system) should not be taken as any guarantee that these are in working order. None of the statements contained in these particulars as to this property are to be relied upon as statements or representation of fact nor is it intended to form any part of any contract.

Especially if travelling long distances, if there is any point of particular importance, please contact the office who will be pleased to clarify the information.

Floor plans are a schematic and are for guidance only. All measurements are approximate. Please note that if our photographs depict the property in a furnished condition, on completion all furnishings will be removed unless specifically mentioned elsewhere as being included in the sale.

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Here to Help

Mark Rhodes

Director

Lisa Mercer

Manager

Rhys King

Surveyor

Janet Morter

Negotiator

Laurie Calloway

Property Consultant

Edwina Grist

Administration

Tel: 01983 527727 Email Us: commercial@hrdiw.co.uk