Lot 56 Freehold Mixed InvestmentAuction Date:
22nd March 2023
10-11 High Street, Ryde, Isle of Wight, PO33 2HN
Currently let at £13,250 per annum plus vacant flat
This imposing three storey town centre building enjoys a prominent position in Ryde High Street, the main trading area in Ryde. Both commercial units are let to long established tenants and are producing a healthy income, while the large flat, which is accessed separately from the rear of the building, is split across two floors and is currently vacant.
Ground Floor
Unit 10
The unit comprises a main retail area with staff room and toilet to the rear.
Tenancy
Let to Tips & Toes on a commercial lease from 3rd February 2023 until 20th February 2031 at a current rental of £6,500 per annum.
Unit 11
The unit comprises main retail area, rear repair workshop, staff room and toilet to the rear.
Tenancy
Let to Island Antiques on a commercial lease from 20th February 2017 to 20th February 2026 at an annual rent of £6,750 per annum.
First Floor
Landing and hallway, living room and kitchen/dining room.
Second Floor
Two bedrooms and bathroom.
Freehold with Part Vacant Possession
There is an addendum available to be read
in conjunction with the legal documentation.
Joint Agents
Gully Howard
01983 301434
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
