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Lot: 141 - COMMERCIAL INVESTMENT - Commercial high street location with residential flat above
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Lot 141 Commercial InvestmentAuction Date:
12th June 2024

38/38A High Street, Ryde, Isle Of Wight, PO33 2HT

£70,000*+ FEES

Currently let at £6,550 per annum

Category Commercial Investment
Tenure Leasehold

Located in the heart of Ryde town centre’s pedestrianised area and surrounded by national multiples, including Poundland who have recently relocated to a large shop directly opposite. The property is let to a local charity on a lease which has the provision for a rolling break option on a month’s notice from either party. It is considered that there are excellent prospects for re-letting to a new tenant on better commercial terms. Several expressions of interest from prospective tenants have been received at significantly higher rental terms.

Accommodation

Main retail area, staff kitchen/ancillary space and basement.

Tenancy

Let under the terms of an annual lease expiring 23rd April 2025 at a current rental of £6,500 per annum. There is a mutual break option exercisable on a month’s notice. The lease is contracted out of the Landlord & Tenant Act 1954 protection.

38 High Street

Tenure

Held under the terms of a 999-year lease from 11th October 1853.

Flat 38A

Tenure

Sold on a 999-year lease (less one day), from 11th October 1853, at a current ground rental of £50 per annum.



38/38A High Street, Ryde, Isle Of Wight


There is an addendum available to be read
in conjunction with the legal documentation.

Further Information

Mike Marchant/Joe Rocks
on 01489 564606

Viewings

    Book a new viewing or cancel an existing viewing for this property before 5pm the day before.

Joint Agents

Scotcher & Co

Scotcher & Co
01983 822288

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