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Reference M5119

Investment Premises in Isle of Wight For Sale

Investment Premises in Isle of Wight For Sale

Register to see map and to make an appointment Situated end of High Street, ISLE OF WIGHT

Price 325,000

Features

Investment Premises

Ground floor BAR running to a total of circa 103m (1,108 ft) catering for around 36 covers, with the initial restaurant area funning to approximately 54m (581 ft). There are 2 residential flats over which are both 2 bedroom units with flat 1 renting at 550 per calender month & flat 2 at 650 per calender month.

The ground floor restaurant is held on the balance of a 7 year fully repairing and insuring lease from December, 2016 at a current rent of 9,000 p.a. with rent reviews set every 3 years. There is a tenants option to break the lease at the 3rd year. The flats are held on 6 month ASTs at a total rent of 14,400 p.a. This gives a total rental income for the building of 23,000 p.a.

Accommodation

2 Flats

1 x 2 bedroom flat - 650
1 x 1 - bedroom flat - 550

Lounge
Kitchen
Bathroom

Tenure

FREEHOLD

Uniform Business Rates: 7,300

Price

OFFERS INVITED IN THE REGION OF 325,000 (showing a gross return of 7.2%), subject to existing tenancies.

Finance

Subject to status, you maybe able to borrow up to 227,500 (freehold) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote

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