9-10 Esplanade 1,960 SF 100% Leased Retail Building Ryde PO33 2DY $931,077 CAD ($475.04 CAD/SF)

Price guide £500,000 Freehold.
Situated in a prominent and prime location overlooking the main Esplanade thoroughfare, amongst a variety of well-established independent traders, and immediately opposite the new bus/transport interchange plus the entrance to Ryde Pier. Regular and quick passenger crossings to Portsmouth and Southsea are close by at Ryde Pier Head and The Esplanade, as is the train station with its service through the East Wight to Shanklin.
Opportunities such as this are very unusual, and the property currently offers a good rental income, plus Unit 10 is currently traded in by our clients as a long-standing amusement arcade, so there is the potential to continue that arrangement.
Ryde itself is also noted as the second major commercial hub on the Island, and does enjoy the largest residential catchment area of any town on the Isle of Wight, with excellent year-round local trade supplemented considerably by visitors during the seasonal months.
The property is Grade II Listed, mid-terraced and of traditional construction over three floors, with further details as briefly outlined overleaf. Exceptionally well-situated overlooking the main thoroughfare of The Esplanade in Ryde, close to a variety of facilities including the main bus/transport interchange, passenger ferry services to the mainland, and train station.
Currently configured as two commercial units, with four converted flats above and separately accessed.
No. 9 is currently leased as a restaurant. No. 10 is currently traded by our clients as a very long-standing and well-established amusement arcade, and therefore this unit either provides vacant possession or, by separate negotiation, an interested purchaser could take over the equipment etc. of the arcade effectively as a ‘going concern’.
The flats comprise Nos. 1, 2 and 4 as single-bedroom units, and No. 3 is a two-bedroom unit, some of which have been recently refurbished.
A schedule of tenancies and appropriate income can be discussed and provided, potentially subject to signature of an NDA and with discretion. Copy leases may also be available to interested applicants, again with discretion.
The combined current income for the flats is currently some £27,552 pa, and for the single commercial lease £8,000 p.a.x., giving a total current rental income of £35,552 pa, with the potential to increase these by a letting of the arcade unit at No. 10.