LOCATION Located in the recently regenerated town of Ventnor, this well known property occupies a good location close to Co-op, Boots and Hurst's.
The town itself has seen some inward investment over the past few years and has now become a sought after location for locals and tourists alike. DESCRIPTION Offered for sale is this retail unit with approximately 31 sq m (336 sq ft) of retail space to the ground floor with kitchen and WC. There is also a basement offering further retail space, of approximately 23sq m (247 sq ft) with WC and emergency access to rear.
The residential is offered over two floors and comprises to the first floor LOUNGE/DINER 17'5" max X 17'3" max, KITCHEN 11' X 9'9", Separate WC. Second floor: BEDROOM 1 14'2" X 9'9", BEDROOM 2 11' x 10'10", Separate WC, BATHROOM 7'10" X 6'10".
The property is being sold with the benefit of the tenancies in place. The ground floor commercial tenant is on the balance of a 5 year lease from Spring 2018 and the residential tenant is on the remainder of a 6 month AST. Current rental income circa £13,800pa TERMS Our client is asking £179,950 for this freehold investment opportunity. OUTGOINGS The VOA shows the business rates as £5,800, rates payable circa £2784. The flat is rated as Band B for Council Tax. VIEWING All viewings to be arranged via Hose Rhodes Dickson due to the tenancies in place. Please contact 01983 527727 or 01983 855525.
2 Pier Street - Freehold Investment
Type: Residential, Retail
2 Pier Street, PO38 1STGBVentnorIsle of WightPO38 1ST2, Pier Street