Lot 18 - Freehold Commercial Investment
Roman House, Rink Road, Isle Of Wight, PO33 1LP
Guide Price: *
£580,000
Fees apply
Buyer's fee:Check legal pack
All fees include VAT at 20%
Holding Deposit: *£5,000
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
Traditional
Highest bid:
£571,000Bid history
1 bidJ
18/09/2024 10:15:36 - £571,000
Currently let at £61,787.44 per annum plus service charge
Situated a short drive from the centre of Ryde and sited on a plot of 0.18 hectares (0.45 acres), this freehold site comprises a mix of office accommodation and light industrial and storage units.
All of the units are currently let under the terms of commercial leases with the site producing a very healthy income. In addition to the rental income a service charge of £6,152.46 per annum is currently collected, further details of which will be contained within the legal documents.
Main Office Building
Arranged over two floors and offering a mix of office/meeting rooms, ladies' and gents' cloakrooms and staff kitchen.
Tenancy
Let under the terms of a ten year lease from 30th November 2022 at an annual rent of £15,000 per annum.
Light Industrial/Storage Units
Units 1-2
Let under the terms of a three year commercial lease from 27th March 2024 at an annual rent of £13,500 per annum.
Unit 3
Let under the terms of a five year commercial lease from 1st February 2020 at an annual rent of £4,712.40 per annum.
Unit 4
Let under the terms of a three year commercial lease from 17th April 2023 at an annual rent of £4,950 per annum.
Unit 5 & Two Storage Containers
Unit 5 holding over under the terms of an expired commercial lease at an annual rent of £2,600.04 per annum. The tenant also rents two storage containers on an annual licence at £2,400 per annum.
Unit 6
Let under the terms of a two year commercial lease from 12th July 2024 at an annual rent of £4,725 per annum.
Unit 7
Holding over under the terms of an expired commercial lease at an annual rent of £5,200 per annum.
Unit 8 & One Storage Container
Unit 8 is let under the terms of a seven-year commercial lease from 22nd August 2024 at an annual rent of £7,500 per annum. The tenant also rents one storage container on an annual licence at £1,200 per annum.
Joint Auctioneer
Scotcher & Co, 26 The Mall, Carisbrooke Road, NEWPORT, Isle of Wight, PO30 1BW, 01983 822288
Summary
- Lot number
- 18
- Auction end
- 18th Sep at 10:28
- Property type
- Commercial
- Tenure
- Ask Agent
- Bedrooms
- 0
- Bathrooms
- 0
- Council tax band
- Ask Agent
Summary
- Lot number
- 18
- Auction end
- 18th Sep at 10:28
- Property type
- Commercial
- Tenure
- Ask Agent
- Bedrooms
- 0
- Bathrooms
- 0
- Council tax band
- Ask Agent
This property is being sold by:
Clive Emson - Hampshire, Dorset, Wiltshire & Isle of Wight
01489 564606
Unit 14, Fulcrum 2, Solent Way, Whiteley, Fareham, Hampshire, PO15 7FN
†Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
* Pricing Information
The Guide Price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide Price amount.
Bamboo Auctions and Clive Emson Auctioneers shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box above or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail.
Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by Clive Emson Auctioneers. All legal documents in relation to this property have been provided by the Vendor's solicitor. Neither Bamboo Auctions or any individual in employment with Bamboo Auctions makes any warranty as to the accuracy or completeness of any of the property information.
These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.
