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Retail Property (high street) for sale

22 Regent Street, Shanklin, Isle Of Wight, PO37


Property Description

Key features

  • Lock-up shop presmises for sale
  • Superb Regent Street trading locaiton
  • For sale on residue of long lease (800 plus) or to rent on new 10 year lease.

Full description

Tenure: Leasehold

An excellent opportunity to purchase some excellent lock-up shop premises in the premier trading area of Shanklin.

The shop is located about a quarter of the way along the main shopping part of Regent Street and is on the Eastern side of the road which is the side that most pedestrians use. There is half an hours shopper's parking outside on the street and immediately at the rear of the premises is a longer stay car park with a footpath that leads directly to Regent Street.

Shanklin is one of the Islands main tourist towns located towards the southern edge of Sandown Bay and included in the large conurbation known as The Bay area. People travel to Shanklin from the surrounding countryside areas for their local and everyday shopping.

The premises are currently used as a quality sports retailer and as well as good ground floor space, there is also a good first floor trading area with direct access from the shop. At the rear on both the ground and first floor are staff facilities and good stock rooms.

In our opinion this property would represent a good investment as it will offer a good percentage return on the purchase price. It comprises:-


MAIN SHOP having a frontage of 14'10 and a depth of 39' (4.51m x 11.91m) and having a split level with the rear part of the shop approached by a small flight of 3 steps. The walls are mainly covered with birch coloured slat wall merchandise racking and the floor is a high quality commercial wood effect vinyl. The shop premises are covered by CCTV and there is a burglar alarm which was installed and serviced by Lifeline. At the very rear of the shop are 2 changing cubicles and 2 recessed store areas. There is a wide open-tread staircase to the first floor sales area.

STAFF KITCHEN with a sink unit and storage cupboards and stairs to: FIRST FLOOR REAR

REAR LOBBY with a door to a small rear yard and a separate WC with a low flush suite and a wash hand basin.


RETAIL AREA 14'11 x 22'4 (4.56m X 6.82m plus a newly fitted double glazed window). Although this area is currently used as storage, part of the walls are covered in the birch slat wall racking system. Opening to:

STOCK ROOM 13'10 x 9' (4.21m x 2.73m) opening to:

REAR STOCK ROOM 19'8 X 10'3 (6m x 3.14m) with a staircase leading down to the staff kitchen. In this room is an old gas fired boiler and hot water cylinder which are not currently in use but we understand the system could be reactivated to supply central heating over the whole premises.

OFFICE 8'3 x 6'9 (2.53m x 2.06m)

N.B. We understand that many years ago the first floor accommodation had planning permission for conversion into a residential flat and although this has now lapsed, it may be possible for a new application to be made.

SERVICES Mains electric, water and drainage are connected and we understand that gas is also into the building but not currently used.

TENURE The property is offered for sale at an asking price of 189,950 for a residue of a 900 year lease from 1864 at a peppercorn ground rent.

UNIFORM BUSINESS RATE 11,500 We understand that relief is available but interested parties should make their own enquiries with the Isle of Wight Council.

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