Lot 16 Freehold Commercial InvestmentAuction Date:
8th February 2023
159 High Street, Ryde, Isle of Wight, PO33 2HT
Previously fully let at £13,075 per annum
Located in Ryde's pedestrianised High Street, this commercial premises has until recently been trading as a café with the tenant paying a rental of £13,000 per annum. The unit is now offered vacant and is considered ideal for re-letting or for use by an owner occupier.
The first floor is arranged as two residential units and both flats have been sold under the terms of 125 year leases from 13th March 2020, with a ground rent of £75 per flat per annum payable.
Ground Floor
Commercial
Main restaurant/dining area, serving area, commercial kitchen and staff cloakroom with W.C.
Residential
Both flats sold under the terms of 125 year leases from 13th March 2020 at a ground rent of £75 per flat per annum.
Council Tax Band A
Freehold with Vacant Possession
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
