Key features
- Opportunity to purchase a whole building with ground floor commercial premises plus separately accessed 3 bedroom flat over
- Ground floor retail unit runs to a total of circa 71.7m² (771ft²)
- Located in arguably one of the highest footfall areas of Freshwater adjacent to Sainsbury's Local and Hurst's Ironmongers
- For Sale with offers invited "in the region of" £195,000 for the freehold interest of the whole building
LOCATION
Well located in the centre of Freshwater in a busy area with high footfall generated by the property's proximity to Sainsbury's Local store, Hurst's Ironmongers, Freshwater Post Office and various other specialist retailers and eateries. Freshwater is the most important town in the West of the Island with an immediate population of around 5,000. The geographic features of the area - Tennyson Down, Alum Bay and Yarmouth Harbour amongst others - attract a wide range of tourists as the season for the purely beach holiday extends by walkers, sailors, cyclists, fishermen and golfers on Freshwater's cliff top course as well as those pursuing the cultural history of the area with Alfred Lord Tennyson and Julia Margaret Cameron amongst the Victorian artistic community.
DESCRIPTION
Whole building for sale comprising ground floor commercial premises running to a total of approximately 71.7 m² (771 ft²) with the main retail space running to circa 51.6 m² (555 ft²). The property also benefits from a generous frontage to School Green Road of 7.6 metres (25 ft). Please see floor plan for further details.
THE FLAT
The first and second floors are arranged as a flat with a separate entrance from the rear of the property. The flat has now been let on a 12 month Assured Shorthold Tenancy at the reduced rate of £700 per calendar month due to the poor overall condition. Investors could modernise and improve the flat to gain greater rental yield. The flat comprises 3 bedrooms on the top floor, with a large open plan living room/dining room to the front of the property plus kitchen, bathroom and separate toilet facility all located on the 1st floor.
TERMS
For Sale with offers invited "in the region of" £195,000 for the benefit of the freehold interest of the whole property, subject to the existing tenancy
UNIFORM BUSINESS RATE
Rateable Value: £8,400
2024/2025: £0.512p 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
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
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