Let to RSPCA on a new 5 year lease (subject to option)
High Street location
Popular Isle of Wight tourist destination
Nearby occupiers include Boots the Chemist, Sainsbury's Local, Lloyds Bank and a number of hotels
Lot 77
Auction 13th July 2017
Rent £7,225 per Annum Exclusive
Status Sold
Price £68,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
10 miles south-east of Newport, 12 miles south-east of Cowes, 16 miles south of Portsmouth
Roads
M275, A3, A3055
Rail
Sandown Railway Station, Portsmouth Harbour Railway Station
Air
Southampton Airport, London Gatwick Airport
Situation
Sandown is a popular tourist destination situated on the south-east coast of the Isle of Wight. The property is situated on the south side of High Street in the town centre, close to its junction with Pier Street and some 160 metres north of Sandown pier and Esplanade. Neighbouring occupiers include Boots the Chemist, Sainsbury's Local and Lloyds Bank. The Royal Pier Hotel, Trouville Hotel and Ocean Hotel are also close by and the town is home to the Isle of Wight Zoo.
Tenure
Virtual Freehold. 999 years from 10/12/1853 until 09/12/2852 at £7 per annum.
Location
Miles
10 miles south-east of Newport, 12 miles south-east of Cowes, 16 miles south of Portsmouth
Roads
M275, A3, A3055
Rail
Sandown Railway Station, Portsmouth Harbour Railway Station
Air
Southampton Airport, London Gatwick Airport
Situation
Sandown is a popular tourist destination situated on the south-east coast of the Isle of Wight. The property is situated on the south side of High Street in the town centre, close to its junction with Pier Street and some 160 metres north of Sandown pier and Esplanade. Neighbouring occupiers include Boots the Chemist, Sainsbury's Local and Lloyds Bank. The Royal Pier Hotel, Trouville Hotel and Ocean Hotel are also close by and the town is home to the Isle of Wight Zoo.
Tenure
Virtual Freehold. 999 years from 10/12/1853 until 09/12/2852 at £7 per annum.
Description
The property comprises a ground floor retail unit with self contained residential accommodation on the first and second floors, which have been let on a long lease. The property benefits from an external store area.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with self contained residential accommodation on the first and second floors, which have been let on a long lease. The property benefits from an external store area.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
4
Ground
Retail
52 sq m
(561 sq ft)
RSPCA (1)
5 years from 08/09/2016 (2)
£7,200
07/09/2021
4a
First & Second
Residential
Not measured
INDIVIDUAL
999 years less 3 days from 10/12/1853
£25
06/12/2852
Total Commercial Area:
52 sq m
(561 sq ft)
£7,225
(1) The RSPCA is a registered charity in England and Wales and operates around 215 RSPCA shops. (Source: www.rspca.org.uk 01/06/2017) (2) The lease provides an option to determine on 08/03/2019.
Contacts
Seller's Solicitors
Fladgate LLP 16 Great Queen Street London WC2B 5DG
