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Investment

Very well presented 6-room HMO, Ryde

17 Reed Street, Ryde, Isle of Wight, PO33 1EN

Offers in the region of £380,000

Key features

  • HMO consisting of 6 rooms, one of which is a self-contained studio flat
  • Current annual gross income £35,340 per annum, showing an EPC of C and all relevant HMO certificated
  • Well-located, with only a short walk to Ryde’s St John’s train station with its links to Ryde Pier, the mainland and also the South of the island
  • Offers are invited in the region of £380,000 for the freehold of the premises
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Location

Located only a short walk from St John’s Hill, towards the South-West of Ryde, putting the premises within a short walk of Ryde’s St John’s train station, with two well-served bus stops nearby. The property is also within walking distance of the centre of Ryde with its extensive array of shops, eateries, etc. The building is also close to Oakfield Stores and a local Fish and Chip Shop.

Description

Building consisting of 5 HMO rooms with one self-contained studio flat. There is a communal kitchen and lounge, all of which presents in very good order. There was a significant amount of work carried out when the current owners purchased the building including taking the walls back to brick, changing the internal studwork, installing a shower room and additional toilet, fully insulating between the floors and ceilings, fitting acoustic plasterboard on the walls, and more recently fitting a new boiler with warranty until 2031. Please see floor plan for further details. There is a current electrical certificate, HMO Licence to October 2024, and EPC rating of C for the property (the studio is separately assessed, and also a rating of C).

The Tenancies

The rooms are let at the following monthly rents:

  • Room 1 (self-contained studio) - £620
  • Room 2 - £450
  • Room 3 - £475
  • Room 4 - £475
  • Room 5 - £450
  • Room 6 - £475


The total therefore being £2,945 per month, or £35,340 per annum.

Terms

Offers are invited "in the region of" £380,000 for the freehold interest of the property.

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 301434. E: gchambers@gullyhoward.com or mwilliams@gullyhoward.com


NO APPROACH SHOULD BE MADE DIRECTLY TO THE PROPERTY, AS THE TENANTS WILL BE UNABLE TO ASSIST

Investment

Very well presented 6-room HMO, Ryde

17 Reed Street, Ryde, Isle of Wight, PO33 1EN

Offers in the region of £380,000

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