Nationwide welcomes to the market this INVESTMENT PREMISES. Situated end of High Street, ISLE OF WIGHT.
Ground floor BAR running to a total of circa 103m² (1,108 ft²) catering for around 36 covers, with the initial restaurant area funning to approximately 54m² (581 ft²). 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.
OFFERS INVITED IN THE REGION OF £325,000 (showing a gross return of £7.2%), subject to existing tenancies. (Our brokers can lend up to 50% on a leasehold or 75% on a freehold purchase, subject to status, please contact us for a free quote)Request Details to see Additional Information e.g. Opening Hours, Staffing and Tenure. Viewing Strictly by appointment via Nationwide Businesses Ltd 020 8763 1777.Freehold : £325,000 (M5119)
Is accommodation included?:
1 x 2 bedroom flat - £650
1 x 1 - bedroom flat - £550