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A fantastic opportunity to purchase an investment property in a great location in Cowes

For sale: £275,000.00|Retail, Office, Offices

PROPERTY DETAILS

FOR SALE£275,000.00
ADDRESSNumber One, The Parade, PO31 7QJ
TYPERetail, Office, Offices
TENUREInvestment Opportunity, For Sale Leasehold
POSTED ON10th May 2019

DESCRIPTION

Location
Situated on Cowes Parade this office has fantastic views over the Solent within a mixture of various neighbouring commercial and residential properties. Cowes is an internationally renowned yachting centre and, with its Red Funnel links from Southampton, a very popular destination for the locals, yachting community and tourists alike.
Description
A ground floor office/retail unit with double aspect windows to the front, a separate internal office to the rear, a private photocopier room with networking and shared WCs and kitchen.
There are two tenancies in place for this property.
The tenants that currently let the office to the rear have access through the front office space and the front office space also has air conditioning, wooden floors and spotlights and an open space to the front.
This investment opportunity also benefits from a gym for the residents of The Parade together with the storage units for each apartment over. These are accessed from the rear off
of Bath Road.
Terms
Our client is asking for £275,000 for this property, on a long leasehold basis, 999 years from 2007 to include the current tenancies in place. The total current income is £22,000pa + Service Charges showing a net initial yield of circa 8%.
Business Rates
The VOA shows each unit is individually rated for business rates. Enquiries can be made at www.tax.service.gov.uk/business-rates-find/search.

LOCATION

Location: Number One, The Parade, PO31 7QJ

Ryde Pier Head (6.3 miles)

Ryde Esplanade (6.5 miles)

Ryde St Johns Road (6.8 miles)

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