Description
A fantastic opportunity to purchase an investment property in a prime waterfront location in Cowes.
Location - Situated on Cowes Parade this office has fantastic views over the Solent within a mixture of various neighbouring commercial and residential properties. Cowes is an internationally renowned yachting centre and, with its high-speed ferry links to Southampton, a very popular destination for the locals, yachting community and tourists alike. There is ample parking available on The Parade.
Retail Unit/Offices - A ground floor office/retail unit with double aspect windows to the front, along with a number of separate offices and meeting rooms to the rear (including rear access), a photocopier/plant room, shared WCs and kitchen. The front office space also has air conditioning, wooden floors and spotlights.
All elements of the unit are now vacant and provide an indicative rental value of c.£16,000 per annum.
Tenant Rent (Per Annum) - Front Office 484 sq ft £7260
Conference Room 169 sq ft £2228
Office to rear conference room 157 sq ft £1884
Photocopying Room 52 sq ft £624
Former Insurance Broker Office 137 sq ft £1644
Unit 6 Former Insurance Broker Office 125 sq ft £1500
Office 7 Former Insurance Broker Office 100 sq ft £1200
TOTAL: £16340
Terms - Our client is asking for £185,000 for this property, on a long leasehold basis, 999 years from 2007 to include the current licences to occupy in place.
Business Rates - The VOA shows each unit is individually rated for business rates. Enquiries can be made at: ww.tax.service.gov.uk/business-rates-find/search.
Viewings - All viewings to be arranged via the selling agents. Due to the nature of the tenancies in place at least 48 hours' notice will need to be given for viewings.
Important Notice - 1. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Spence Willard in the particulars or by word of mouth or in writing ("information") as being factually accurate about the property, its condition or its value. Neither Spence Willard nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT: The VAT position relating to the property may change without notice.
