Key features
- Rare opportunity to rent a whole building benefitting from take-away restaurant on the Ground Floor & Basement
- Shop and basement run to a total of c. 76.9m² (827ft²), with two-bedroom flat over
- Very prominent restaurant on the junction of Regent Street and Shanklin High Street
- New lease at £24,000 per annum for the whole building, plus offers in the region of £65,000 for the equipment, fixtures & fittings
Location
Located in a very prominent position, as Regent Street meets Shanklin High Street with a heavy footfall and traffic in this part of the street. Regent Street benefits from free short-stay on-street parking, as well as local car parks nearby. Shanklin is the Island's major town on the south coast and serves as a day-to-day needs centre, particularly for the Sandown, Shanklin Lake conurbation, which wrap around Sandown Bay. The sandy beaches and leisure offer of the area ensure high numbers of visitors and tourists, particularly in the Summer season, boosting the local population of around 19,500. It also has a railway station which goes through to Lake, Sandown, Brading and Ryde Pier Head to link up with Wightlink’s fast passenger ferries to Portsmouth Harbour and trains onwards to London Waterloo and Gatwick.
Description
Building arranged over 4 floors, with a commercial element in the Ground Floor and Basement. The Ground Floor runs to approximately 39.7m² (427ft²), with the basement running to 37.2m² (400ft²) coming to a total of 76.9m² (827ft²). This is supported by a good-sized two-bedroom flat accommodation over. Please see floor for further detail.
Terms
Offered by way of a new lease at £24,000 per annum for the whole building, with offers invited in the region of £65,000 as an ingoing premium for all the equipment, fixtures and fittings and benefit of the trading location.
Uniform Business Rate
Rateable Value: £8,500
2024/2025: 54.6p without small business relief. Interested parties should make their own enquiries of the Isle of Wight Council to confirm any rate liability or rate concession that may be applicable by telephoning Business Rates on 01983 821000
Council Tax
The flat is in Council Tax band A
Viewing
Strictly by appointment with sole agents Gully Howard Commercial Property, Suite 11 Salisbury Gardens, Dudley Road, Ventnor PO38 1EJ. Call Gavin Chambers or Morgan Williams on 01983 301 434. E: gchambers@gullyhoward.com or mwilliams@gullyhoward.com
UNDER NO CIRCUMSTANCES SHOULD ANY DIRECT APPROACH BE MADE TO THE PROPERTY AS THEY WILL BE UNABLE TO ASSIST WITH ENQUIRIES
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