Retail premises for sale in High Street, Ventnor PO38

Investment Consideration:
Gross Initial Yield: 9.21%
Rental Income: £9,120 p.a.
VAT is not applicable to this property
The property comprises a ground floor retail shop t/a Pet Store
Nearby occupiers include Post Office and Premier Express, amongst others.

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

Tenancy:
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). Break clause in 2024 not exercised. Deposit held of £1,520.

Tenure:
Long leasehold. Held on a 999 year lease from 18 November 2011 at a ground rent of peppercorn.

Location:
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.