Available
Ventnor – Hobby Centre
15 High Street, Ventnor, Isle of Wight PO38 1RZVirtual Freehold Retail Investment
Price
£65,000
Rent P.A.
£4,940
Yield
7.60%
Tenure
Leasehold
Lease Term
4 years
Years Left on Lease
3y 6m
Area
790 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Purhcase PriceL £65,000
- Gross Initial Yield: 7.60%
- VAT is NOT applicable to this property
- Comprises ground floor retail shop t/a Hobby Centre
- Situated in the heart of the town centre with nearby occupiers include Post Office and Premier Express, amongst others
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
Comprises ground floor retail shop t/a Hobby Centre, providing the following accommodation and dimensions:
Ground Floor: 73.40 sq m (790 sq ft)
Open plan retail, Storage, WC
Ground Floor: 73.40 sq m (790 sq ft)
Open plan retail, Storage, WC
Tenancy Description
The shop is at present let to Parsons Popculture Ltd t/a Hobby Centre for a term of 4 years from 8th April 2025 at a current rent of £4,940 p.a. and the lease contains full repairing and insuring covenants. Tenant option to determine on 3rd anniversary with min 6 months’ notice.
Tenure:
Long leasehold. Held on a 999 year lease from 18 November 2011 at a ground rent of peppercorn.
Tenure:
Long leasehold. Held on a 999 year lease from 18 November 2011 at a ground rent of peppercorn.
Location Description
Ventnor is a seaside resort and civil parish established in the Victorian era on the south-east coast of the Isle of Wight, England, eleven miles (18 km) from Newport. It is situated south of St Boniface Down, and built on steep slopes leading down to the sea.