Lot 109

FREEHOLD LIGHT INDUSTRIAL ESTATE INCLUDING EIGHT UNITS FOR INVESTMENT

1, 2, 4, 5, 6, 7, 8 & 10 Zille Estate, East Street, Ryde, Isle of Wight, PO33 1JS
1, 2, 4, 5, 6, 7, 8 & 10 Zille Estate, East Street, Ryde, Isle of Wight, PO33 1JS
JULY AUCTION

Currently fully let at £42,120 per annum

This light industrial site is situated close to the eastern end of Ryde seafront and comprises eight lock-up industrial units which are in use by a variety of smaller local traders. Of the original 10 units, two have previously been sold (Numbers 3 & 9) with the remaining units producing a healthy income, and considered ideal for addition to an income- producing portfolio.

The site has vehicular access from both East Street and Monkton Street and includes a ladies and gents toilet block which is used by the occupiers on the site.

Tenancy

Each of the units is let under the terms of Licence Agreements offering ‘easy in and easy out’ terms. The larger unit 1 is currently let at a rent of £440 four-weekly, with the remaining seven units all let at £400 four-weekly. Further tenancy information will be available to download from the Clive Emson website or inspection at the Auctioneer’s Office.

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 cliveemson.co.uk/buyers-fees/