Available
Ventnor – Pet Store
15 High Street, Ventnor, Isle of Wight PO38 1RZVirtual Freehold Shop Investment
Price
£99,000
Rent P.A.
£9,120
Yield
9.21%
Tenure
Leasehold
Lease Term
5 Years
Years Left on Lease
3y
Area
790 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- The property comprises a ground floor retail unit t/a pet store
- Nearby occupiers include Post Office, Premier Express, amongst other independent traders
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
The property comprises ground floor retail shop t/a Pet Store, 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 an Individual for a term of 5 years from 1st May 2022 at a current rent of £9,120 per annum and the lease contains full repairing and insuring covenants. Rent review on 01.05.25 (open market upward only). Tenant option to determine on 01.05.24 with minimum 3 month`s notice. Deposit held of £1,520.
Tenancies & Accommodation
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.