Lot 18 Freehold Commercial InvestmentAuction Date:
18th September 2024
Roman House, Rink Road, Ryde, Isle Of Wight, PO33 1LP
Currently let at £61,787.44 per annum plus service charge
Situated a short drive from the centre of Ryde and sited on a plot of 0.18 hectares (0.45 acres), this freehold site comprises a mix of office accommodation and light industrial and storage units.
All of the units are currently let under the terms of commercial leases with the site producing a very healthy income. In addition to the rental income a service charge of £6,152.46 per annum is currently collected, further details of which will be contained within the legal documents.
Main Office Building
Arranged over two floors and offering a mix of office/meeting rooms, ladies' and gents' cloakrooms and staff kitchen.
Tenancy
Let under the terms of a ten year lease from 30th November 2022 at an annual rent of £15,000 per annum.
Light Industrial/Storage Units
Units 1-2
Let under the terms of a three year commercial lease from 27th March 2024 at an annual rent of £13,500 per annum.
Unit 3
Let under the terms of a five year commercial lease from 1st February 2020 at an annual rent of £4,712.40 per annum.
Unit 4
Let under the terms of a three year commercial lease from 17th April 2023 at an annual rent of £4,950 per annum.
Unit 5 & Two Storage Containers
Unit 5 holding over under the terms of an expired commercial lease at an annual rent of £2,600.04 per annum. The tenant also rents two storage containers on an annual licence at £2,400 per annum.
Unit 6
Let under the terms of a two year commercial lease from 12th July 2024 at an annual rent of £4,725 per annum.
Unit 7
Holding over under the terms of an expired commercial lease at an annual rent of £5,200 per annum.
Unit 8 & One Storage Container
Unit 8 is let under the terms of a seven-year commercial lease from 22nd August 2024 at an annual rent of £7,500 per annum. The tenant also rents one storage container on an annual licence at £1,200 per annum.
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
