Lot 2 Freehold Town Centre Mixed InvestmentAuction Date:
1st May 2024
120 High Street, Ryde, Isle Of Wight, PO33 2SU
Currently let at £27,850 per annum
A three storey freehold building situated in Ryde High Street and arranged as a lock-up retail unit on the ground floor which is trading as a hair and beauty salon and occupied under the terms of a commercial lease. The first and second floors are occupied by four studio flats which are all let under the terms of Assured Shorthold Tenancy Agreements. The property is considered ideal for a addition to an income-producing letting portfolio.
Ground Floor
Main trading area with staff cloakroom with W.C.
Tenancy
Let under the terms of a five-year commercial lease expiring on 4th October 2026 at a current rental of £6,250 per annum.
First Floor
Flat 1
Comprising living room/bedroom/kitchen and shower room with W.C.
Tenancy
Let under the terms of an initial six-month tenancy expiring on 7th September 2021 at a rental of £450 per calendar month.
Flat 2
Comprising living room/bedroom/kitchen and shower room with W.C.
Tenancy
Let under the terms of an initial six-month tenancy expiring on 7th August 2021 at a rental of £450 per calendar month.
Second Floor
Flat 3
Comprising living room/bedroom/kitchen and shower room with W.C.
Tenancy
Let under the terms of an Assured Shorthold Tenancy expiring on 26th March 2024 at a rental of £450 per calendar month.
Flat 4
Comprising living room/bedroom/kitchen and shower room with W.C.
Tenancy
Let under the terms of an initial six-month tenancy expiring on 24th March 2021 at a rental of £450 per calendar month.
Each Flat Council Tax Band A
There is an addendum available to be read
in conjunction with the legal documentation.
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
