Investment for sale in Ryde

AUCTION PROPERTY This imposing freehold building is situated in the pedestrianised section of Ryde High Street in a prime commercial location with the front of the ground floor at present let and trading as a barbers. To the rear on the ground floor is a residential flat which has been extensively and attractively modernised and is at present let adding additional worthwhile income. The upper floors are arranged as a further residential unit (34A) which has been sold under the terms of a long lease.

Providing a very worthwhile rental yield, the property is considered ideal for addition to an income producing letting portfolio.

Ground Floor - Front (34)
Open plan sales/trading area, staff amenities to the rear including cloakroom with W.C.

Tenancy
Let under the terms of a 5-year commercial lease from 15th July 2023 at a rent of 9,940.68 per annum.

EPC Rating
C (59). Total Floor Area 64 sq.m.

Ground Floor - Rear (34B)
Entrance hall, open plan kitchen/living room, two bedrooms both with en-suite shower rooms with W.C.

Tenancy
Let under the terms of a residential company let for a term of 3 years from 22nd November 2023 at a rental of 1,200 per calendar month (14,400 per annum).

EPC Rating C

Council Tax Band A

Upper Flat (34A)
Sold under the terms of a 999-year lease from 1st June 2023.

Residential EPC: C

Commercial EPC: C

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 the 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 www.cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

*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 www.cliveemson.co.uk/buyers-fees/