Block of flats for sale in Reed Street, Ryde, Isle Of Wight PO33
* Calls to this number will be recorded for quality, compliance and training purposes.
Property features
- HMO consisting of 6 rooms, one of which is a self-contained studio flat
- Well-located, with only a short walk to Ryde’s St John’s train station with its links to Ryde Pier, the mainland and also the South of the island
- Current annual gross income £35,340 per annum, showing an EPC of C and all relevant HMO certificated
- Offers are invited in the region of £380,000 for the freehold of the premises
Property description
Location
Located only a short walk from St John’s Hill, towards the South-West of Ryde, putting the premises within a short walk of Ryde’s St John’s train station, with two well-served bus stops nearby. The property is also within walking distance of the centre of Ryde with its extensive array of shops, eateries, etc. The building is also close to Oakfield Stores and a local Fish and Chip Shop.
Description
Building consisting of 5 HMO rooms with one self-contained studio flat. There is a communal kitchen and lounge, all of which presents in very good order. There was a significant amount of work carried out when the current owners purchased the building including taking the walls back to brick, changing the internal studwork, installing a shower room and additional toilet, fully insulating between the floors and ceilings, fitting acoustic plasterboard on the walls, and more recently fitting a new boiler with warranty until 2031. Please see floor plan for further details. There is a current electrical certificate, HMO Licence to October 2024, and EPC rating of C for the property (the studio is separately assessed, and also a rating of C).
The Tenancies
The rooms are let at the following monthly rents:
- Room 1 (self-contained studio) - £620
- Room 2 - £450
- Room 3 - £475
- Room 4 - £475
- Room 5 - £450
- Room 6 - £475
The total therefore being £2,945 per month, or £35,340 per annum.
Terms
Offers are invited "in the region of" £380,000 for the freehold interest of the property.
Viewing
Strictly by appointment with sole agents Gully Howard Commercial Property, Suite 11 Salisbury Gardens, Dudley Road, Ventnor PO38 1EJ. Call Gavin Chambers or Morgan Williams on . E: Or
no approach should be made directly to the property, as the tenants will be unable to assist
Property info
For more information about this property, please contact
Gully Howard, PO38 on +44 1983 507984 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Gully Howard, and do not constitute property particulars. Please contact Gully Howard for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.
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Gully Howard
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Suite 11, Salisbury Gardens, Dudley Road, Ventnor, PO38 1EJ