Lot 104: THREE STOREY TOWN CENTRE BUILDING WITH INCOME AND TWO FLOORS FOR CONVERSION

FEBRUARY AUCTION

This three storey building benefits from a prominent position at the top of Union Street, the main shopping street in Ryde. The upper two floors have planning consent for conversion to form two one-bedroom flats, whilst the ground floor provides an income courtesy of the commercial lease.

Accommodation

Main retail area, staff kitchen and staff cloakroom with W.C. The upper floors are currently open plan.

Proposed Accommodation

First & Second Floors

Each flat comprising: Entrance hall, bathroom with W.C., kitchen / living room and bedroom.

Tenancy

The ground floor is let under the terms of a 20 year lease from May 2015 at a current rental of £8,500 per annum.

Auctioneer’s Note

Access to the upper floors is via a hatch with loft ladder. Interested applicants are advised to wear appropriate footwear, and view entirely at their own risk.

Planning

Planning permission has been granted by Isle of Wight Council under ref: P00150/14 – LBC/11903/F, dated 15th April 2014, for LBC for internal alterations to 1st and 2nd floor storage areas to form two flats including alterations and extension to existing lightwell on real elevation to provide new stairwell (revised plans), subject to conditions.

A copy of the Planning Consent and proposed plans will be available to download from the Local Authority website, the Clive Emson website, or for inspection at the Auctioneer’s Office where further information may be available.

Freehold with Part Vacant Possession

Commercial EPC: D

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