The whole building is for sale. Alternatively the premises are offered to Lease.
The Bombay Palace is located overlooking Ryde Boating Lake at the end of the Esplanade, a particularly busy area of Ryde in the main tourist season and well catered for by plenty of on-street parking nearby, free after 6.00 pm and within walking distance of the centre of Ryde and the substantial number of properties on its Southern outskirts. The town has an immediate population of around 25,000, considerably boosted by the influx of summer tourists and day-trippers via fast passenger ferry links from Portsmouth and Southsea. The town's boasts a 24,000 ft˛ Co-Operative supermarket, plus other mainstream operators such as Peacocks, WH Smith, New Look, Clintons, Costa Coffee, The Card Factory, Specsavers, Superdrug, M&Co and Poundland.
The building is being offered with vacant possession either for a new lease with initial incentives at Years 1 & 2 at £19,750 p.a. rising to £21,500 in Year 3. Thereafter the rent to rise in line with the Retail Price Index (RPI) plus 1% with 3 yearly rent reviews. A premium of £30,000 is sought for the benefit of the high quality fixtures, fittings and fit-out, including the kitchen equipment. Alternatively the building can be purchased for £395,000.
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