Property description
LOCATION
The property is prominently located adjacent the pedestrian crossing and post box on Swanmore Road, close to its junction with Osborne Road, in the heart of this densely populated residential area of south Ryde. The property has traded very successfully as a convenience store and the retail element is now available to let following a sale of the business to another convenience retailer who does not require the property itself (a 10 year covenant has been agreed restricting future sales from the property to other than convenience goods.)
DESCRIPTION
This bright, well laid out retail shop comprises the following approximate net internal areas:
Ground floor sales: 1,164 sq ft (108.1 sq m)
Ancillary staff/ stores: 270 sq ft (25.0 sq m)
A former house, adjoining at the rear and fronting Osborne Road, is within the same ownership and is used as offices and storage. It is not being offered to let with the main shop, but our client would consider a freehold sale of both (retail shop and former house). The former house comprises c.557 sq ft (51.7 sq m) NIA and there is a lapsed consent for its return to residential use, which may indicate future potential.
TERMS
Our client is looking to let the retail premises at an initial rent of £7,200pa exclusive of rates and all other outgoings, on the basis of a new institutional lease, and will also consider offers for an outright freehold sale of the shop and former house, if preferred.
COSTS
Each party is to be responsible for its own costs incurred in any transaction.
BUSINESS RATES & COUNCIL TAX
We understand the property is assessed as follows: RV: £12,000 per annum.
Rates payable before any business rate relief (at 2012/13 multiplier 0.458): £5,400.
VIEWING
By appointment with sole agents, Hose Rhodes Dickson Commercial.
Property Features :
- Ground Floor
- Retail Unit
- Restricted Covenant
Property Info: