Land for sale in The Depozitory, 23 Nelson Street, Ryde, Isle Of Wight PO33
* Calls to this number will be recorded for quality, compliance and training purposes.
Property description
Key Points
Description
The DepOZitory comprises a former Wesleyan chapel which was comprehensively refurbished some years ago. The property has in the past been used as an entertainment venue and is currently leased by a community art group which provides artist studios and display/galleries.
The property, which is a detached three storey building, comprises a basement currently used for storage and displaying artwork. The ground floor comprises a further workshop and artist display area with a kitchen and toilets and the first floor comprises two workshops and further art and exhibition space.
To the rear of the property is a private car park which can accommodate 4 vehicles plus additional parking on access roads.
Location
The DepOZitory is located a 2 minute walk from Ryde esplanade railway station to the north which connects to the mainline (Portsmouth) via the hovercraft and catamaran. Ryde town centre to the north is approximately 5 minutes walk. The town of Ryde provides shopping centres, restaurants, pubs as well as an attractive seafront and miles of sandy beaches.
Availability_Text
The accommodation comprises the following areas:
Tenancy
The property is currently let to a community art group for a term of 5 years from October 2020 expiring October 2025. The current income is £20,400 per annum and the lease is drafted on an internal repairing and insuring basis with the Landlord retaining responsibility for the external repairs and insurance. There is scope for achieving a higher rental income if the property is used for other purposes such as children's nursery, medical or other uses.
The lease contains the ability for the Landlord to increase the rent annually on 15th April each year by the rate of rpi. The Landlord holds a 3 month rent deposit of £4,725.00.
Anti Money Laundering
To comply with Anti Money Laundering regulations, Curchod & Co undertake id checks for all successful purchasers and tenants where legislation requires us to do so.
Price
The property is available to purchase freehold and we are instructed to quote a price of £494,000. We are advised that VAT is not payable on the property.
Property info
* Sizes listed are approximate. Please contact the agent to confirm actual size.
For more information about this property, please contact
Curchod & Co, GU9 on +44 1252 926842 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Curchod & Co, and do not constitute property particulars. Please contact Curchod & Co 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.