This three storey freehold building adjoins the historic Guildhall in the centre of the Island’s County town of Newport. The property is currently arranged as a fast food takeaway with a small sit in café area with a flat on the first floor, which enjoys separate access from the High Street.
The building has the benefit of an access at the rear to the ground floor kitchen from Quay Street and on the first and second floors of the Quay Street elevation there are further rooms, previously accessed from the adjoining Guildhall, having been utilised as offices, under a now long finished lease, by the Isle of Wight Council.
The only access to these rooms is via the rear first floor front flat and across a flat roof. It is considered there is potential for a further flat to the rear of the property, subject to all necessary consents being obtainable.
Let under the terms of a 21 year commercial lease from 2001 and the end of the existing lease in 2022, may present an ideal opportunity to fully exploit the undoubted potential the building offers.
Local Planning Authority
Isle of Wight Council. Tel: 01983 823552. Website: iwight.com.
Main takeaway/café area with rear kitchen, food preparation area, store, cloakroom with W.C. and access from Quay Street.
Accessed from High Street and currently arranged as landing, two bedrooms, one with en-suite bathroom with W.C.
Landing, two bedrooms and shower-room with W.C.
First Floor – Rear
Offices and a lobby area.
Second Floor – Rear
This was not accessible at the time of our inspection but the Auctioneers are advised comprises two further offices.
Let under the terms of a commercial lease for a term of 21 years from 1st August 2001 at a current rental of £1,258 per calendar month (£15,096 per annum).
The map and satellite images are based on postcode information and are available for directions only. They may not necessarily show the exact lot being offered, but will be in close proximity. Please refer to the sale plan in the legal documentation for precise details of the lot to be sold.