31
WEEKS ROAD, RYDE IW PO33 2TL
215686
INVESTMENT & DEVELOPMENT OPPORTUNITY
CHARTERED SURVEYORS
COMMERCIAL PROPERTY AGENTS
RETAIL
INDUSTRIAL
OFFICE
INVESTMENT
BUSINESS TRANSFER
DEVELOPMENT LAND
MANAGEMENT
RENT REVIEWS
Property and Site located in Weeks Road on
the Southern outskirts of Ryde
Existing property comprises 5 x flats with
planning permission under TCP/10703/F for a
further 3 flats
Current income from existing 5 flats is £2,525
pcm i.e. £30,300 per annum
For Sale with offers invited "in the region of"
£380,000 for the property & site
LOCATION
Located in Weeks Road, on the Southern outskirts of Ryde, the stock being a Victorian detached
property, which has been converted to flats. Weeks Road is close to Swanmore Road and West
Street and as such gives easy access to Ryde town, it's shopping offer and fast ferry links to the
mainland. Ryde itself has an immediate population of around 25,000, considerably boosted by the
influx of summer tourists as well as day-trippers via fast passenger catamaran and Hovercraft links
from Portsmouth and Southsea. The town's day-to-day needs are serviced by a 24,000 ft²
Co-Operative supermarket and other mainstream occupiers such as Iceland, Peacocks, WH Smith,
New Look, Clintons, Costa Coffee, The Card Factory, Specsavers, Superdrug, M&Co and more
recently Poundland. Please see location map overleaf for further detail.
DESCRIPTION
The property comprises 5 flats currently rented on 6 monthly ASTs. The outside of the property has
been recently repainted and benefits from UPVC windows. Planning permission under TCP/10703/F
- P/00924/13 allows for the building of 3 further 1-bedroom flats, creating 3 more units either to rent,
or to sell. If the extension were to be built, the property would still benefit from off street parking.
Please see floor plans overleaf or the Isle of Wight Planning website www.iwight.com/planning
TENURE
The existing 5 flats are currently let on 6 monthly Assured Shorthold Tenancies (ASTs) and comprise:
2 x 2 bedroom units and 3 x 1 bedroom units with a total income of £2,525 per calendar month i.e.
£30,300 per annum. 2 of the units have recently been re-decorated with updated kitchen and
bathroom facilities installed.
TERMS
For Sale with offers invited "in the region of" £380,000 for the benefit of the existing building and
tenants (5 flats) and the site with planning permission in place for a further 3 units.
LEASE RENEWALS
VALUATIONS
ARBITRATION
ACQUISITIONS
EXPERT WITNESS
HISTORIC BUILDINGS
CONSULTANCY
DIRECTORS
NICK BUCKLE BSc(Hons) MRICS
GAVIN CHAMBERS BA(Hons)
GRANT HIGGS
JAMIE WHITTLE BSc(Hons) PgDipSurv MRICS
SHAUN WOOLFORD MBA BSc(Hons) Dip Proj Man MRICS
REGISTERED OFFICE
62 High Street, Newport, Isle of Wight PO30 1BA
Registered in England and Wales No. 6477562
Vat No. 928 0215 39
62 HIGH STREET NEWPORT
ISLE OF WIGHT
PO30 1BA
TEL 01983 822555
___________________
MERRITTS FARM
WHITE HORSE LANE
WATERLOOVILLE
PO7 6QL
TEL 02392 257224
___________________
EMAIL
[email protected]
www.gullyhoward.com
VIEWING
Strictly by appointment with sole agents Gully Howard Chartered Surveyors. Contact Gavin Chambers, Rhys King or Jane Bauldry on
01983 822555.
E: [email protected], [email protected] or [email protected]
Under no circumstances should ANY approach be made to personnel within the building as they will be UNABLE to assist you.
Whilst these particulars are believed to be correct neither the agent nor the clients guarantee accuracy nor are they intended to form part of any contract.
We have not carried out any survey. All offers are subject to formal contract. Interested parties must satisfy themselves independently as to VAT in respect
of any transaction. Gully Howard Chartered Surveyors and staff are not able to give any warranty or representation in connection with this property and
have not tested any plant, purchasers must satisfy themselves as to its condition. Plans are shown not to scale and for identification only, dimensions are
approximate and location plans may not show all current occupiers.