72 George St 8 Unit Apartment Building $1,174,002 CAD ($146,750 CAD/Unit) 9% Cap Rate Ryde PO33 2JF

72 George Street presents an opportunity to acquire a fully let residential investment property in Ryde, the Isle of Wight’s largest town by population. The asset comprises accommodation arranged across five floors, including a basement flat, a garden flat with courtyard garden access via St Peters Mews, and multiple bedsit-style residential units throughout the upper floors. The property is fully occupied, with each tenant operating under an Assured Tenancy Agreement, providing an established income stream from day one of ownership.
The current reported rental income is £57,300 per annum, equating to a gross initial yield of approximately 9% based on the guide price of £625,000. The property is held on a long leasehold interest of 950 years from 12 March 1865, offering long-term control of the asset. Operational features include individual electric card sub-meters serving each unit, a central boiler serving the building, and a mechanical ventilation heat recovery system designed to supply filtered fresh air while recovering heat from outgoing air. This system may contribute to improved energy efficiency and reduced condensation throughout the property.
Positioned within walking distance of Ryde town centre, the seafront, transport connections across the Isle of Wight, and passenger ferry services to the mainland, the property benefits from access to local amenities, retail offerings, schools, and leisure destinations. The combination of established tenancy, income generation, and connectivity within one of the island’s principal population centres supports its appeal to private investors and portfolio buyers seeking residential investment exposure.