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High St 2,533 sq ft 100% Let Retail Property Ryde PO33 2PN £400,000 (£157.92/sq ft) 9.15% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Freehold investment opportunity is available
- Tenanted with strong covenants
EXECUTIVE SUMMARY
Situated at the northern end of the main High Street of Ryde, where it adjoins St. Thomas Square and Union Street, early interest is very strongly encouraged in respect of this rare investment opportunity, available now for sale, subject to the tenancies in situ (businesses unaffected).
Ryde is the Island’s second main commercial centre, but enjoys the largest residential catchment area of any, with a wide variety of facilities within the town boundaries, including an excellent mix of local independent and national corporate commercial occupiers, coupled with the ever-popular beaches, Esplanade and leisure facilities, plus the regular and quick foot passenger crossings to Portsmouth and Southsea on the mainland from Ryde Pier Head and the Esplanade respectively. The town is popular with locals and tourists alike, with a good year-round trade that is supplemented considerably by visitors during the summer season each year.
The premises are of traditional older-style construction, with further details as briefly outlined overleaf.
Ryde is the Island’s second main commercial centre, but enjoys the largest residential catchment area of any, with a wide variety of facilities within the town boundaries, including an excellent mix of local independent and national corporate commercial occupiers, coupled with the ever-popular beaches, Esplanade and leisure facilities, plus the regular and quick foot passenger crossings to Portsmouth and Southsea on the mainland from Ryde Pier Head and the Esplanade respectively. The town is popular with locals and tourists alike, with a good year-round trade that is supplemented considerably by visitors during the summer season each year.
The premises are of traditional older-style construction, with further details as briefly outlined overleaf.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Size
2,533 sq ft
Costar Property Class
C
Year Built
1900
Price
£400,000
Price per sq ft
£157.92
Yield
9.15%
NOI
£36,600
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Plot ratio
0.52
Total Plot Size
0.11 ac
Frontage
42 ft on High Street
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