Download Union Street, Ryde IW PO33 2LN 202930 WHOLE

75
Union Street, Ryde IW PO33 2LN
202930
G/FLOOR, BASEMENT & UPPER FLOORS UNION ST
CHARTERED SURVEYORS
COMMERCIAL PROPERTY AGENTS
RETAIL
INDUSTRIAL
OFFICE
INVESTMENT
BUSINESS TRANSFER
DEVELOPMENT LAND
MANAGEMENT
Rare opportunity to acquire ground floor, basement and
upper floors of a building in Union Street, Ryde
Offering development or investment opportunities. First
floor offices could lend themselves to residential use
s.t.p.
Currently Top floor flat with sea views, first floor office
plus ground floor retail & basement area running to circa
172m² (1,851 ft²)
Offers are invited "in the region of" £285,000 for
basement, ground & upper floors of the building.
Alternatively Shop & Basement only Oiro £120,000 or
Upper Parts Only Oiro £175,000
LOCATION
Located in Union Street, Ryde which is currently enjoying somewhat of a renaissance with many
specialist boutiques, retailers and restaurants opening there. It is also just a short walk to the
Hovercraft and Catamaran fast ferry services to the mainland and to the bus terminal and Island rail
station. It also very close to Ryde Esplanade and thus enjoys the heavy footfall from visitors that the
town attracts particularly in the summer season. Ryde itself has a population in excess of 25,000 and
boasts a 24,000 ft² Co-Operative store, with other major retailers such as Iceland, Specsavers,
M&Co, Next, Costa Coffee, Poundland, Card Factory, Boots, WH Smith, J D Wetherspoon and
Dominos all established in the town.
DESCRIPTION
The building is arranged over 4 floors with the ground floor and basement offering commercial space.
There is potential to bring the basement area up to a tradeable standard and expand the shop by
removing a couple of walls. The first floor is currently laid out as office accommodation, with new
carpets recently laid, but has historically clearly been residential and therefore would lend itself to go
back to this use with minimal disruption to the fabric of the building. The top floor is already set out as
a 2 bedroom flat and is in the process of being refurbished. It has the added benefit of providing
spectacular views over The Solent. The ground floor and basement run to a total of 172m² (1,851 ft²)
with the ground floor only running to circa 60m² (648 ft²). Due to its location in Union Street, the
commercial space would lend itself well to restaurant or bar use. Please see floor plan overleaf for
further detail. All works suggested are subject to obtaining the relevant planning or other
necessary consents.
TERMS
Offers are invited "in the region of" £285,000 for the basement, ground floor and upper floors of the
property, which benefits from the residue of a 999 year leasehold. The property has the potential to
be split, if required as follows:- The residential and office accommodation on 1st & 2nd Floors or The
commercial element on the Ground Floor and Basement, priced as follows:Shop & Basement only For Sale at oiro £120,000. Upper Parts only For Sale at oiro £175,000.
RENT REVIEWS
LEASE RENEWALS
VALUATIONS
ARBITRATION
ACQUISITIONS
EXPERT WITNESS
HISTORIC BUILDINGS
CONSULTANCY
DIRECTORS
NICK BUCKLE BSc(Hons) MRICS
GAVIN CHAMBERS BA(Hons)
GRANT HIGGS
JAMIE WHITTLE BSc(Hons) PgDipSurv MRICS
SHAUN WOOLFORD MBA BSc(Hons) Dip Proj Man MRICS
REGISTERED OFFICE
62 High Street, Newport, Isle of Wight PO30 1BA
Registered in England and Wales No. 6477562
Vat No. 928 0215 39
62 HIGH STREET NEWPORT
ISLE OF WIGHT
PO30 1BA
TEL 01983 822555
___________________
MERRITTS FARM
WHITE HORSE LANE
WATERLOOVILLE
PO7 6QL
TEL 02392 257224
___________________
EMAIL
[email protected]
www.gullyhoward.com
UNIFORM BUSINESS RATE
Rateable Value: Shop & Basement £TBA, First Floor Offices £3,550
2017/2018: £0.479 occupied
Interested parties should make their own enquiries of the Isle of Wight Council with regard to any rate liability or rate concession that may
be applicable on T: 01983 821000.
COUNCIL TAX
The second floor flat falls within Band A for Council Tax. source: www.voa.gov.uk
CURRENT INCOME
The second floor flat is currently let at £515 pcm producing an income of £6,180 p.a. and 2 of the offices on the first floor are currently let at
£408 pcm producing an income of £4,896 p.a. with one further office decorated but vacant. This gives a total income for the 2 offices and
flat of £11,076 per annum.
VIEWING
Strictly by appointment with sole agents Gully Howard.
Contact Gavin Chambers or Jane Bauldry on 01983 301 434.
E:[email protected] or [email protected]
Whilst these particulars are believed to be correct neither the agent nor the clients guarantee accuracy nor are they intended to form part of any contract.
We have not carried out any survey. All offers are subject to formal contract. Interested parties must satisfy themselves independently as to VAT in respect
of any transaction. Gully Howard Chartered Surveyors and staff are not able to give any warranty or representation in connection with this property and
have not tested any plant, purchasers must satisfy themselves as to its condition. Plans are shown not to scale and for identification only, dimensions are
approximate and location plans may not show all current occupiers.