Lot 155: TOWN CENTRE BUILDING WITH INCOME & TWO FLOORS FOR CONVERSION

Sold Prior

A three storey building in a prominent position at the top of Union Street, Ryde’s main shopping street. The upper two floors have consent for conversion to form two flats, while the ground floor provides an income courtesy of a commercial lease.

Accommodation

Main retail area, staff kitchen and staff cloakroom with W.C. Open plan upper floors.

Tenancy

Let on a 20 year lease, from May 2015, at a current rental of £8,500 per annum.

Proposed Accommodation

First & Second Floors

Each flat comprising entrance hall, bathroom with W.C., kitchen/living room, bedroom.

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 first and second floor storage areas to form two flats including alterations and extension to existing lightwell on rear elevation to provide new stairwell (revised plans), subject to conditions. A copy of the Consent and proposed plans will be available to download from the Clive Emson website, or for inspection at the Auctioneer’s Office.

Freehold with Part Vacant Possession

Commercial EPC: D