Union Street, Ryde, PO33

Situated on Union Street, Ryde, this property is located in the heart of Ryde town centre. The units are a short walk to golden sandy beaches and transport links to the rest of the island and Portsmouth.

The shop owner intends to keep operating to the public and is agreeable to leasing from the new freeholder.

We are offering the full freehold property, the sale will include planning permission;

2x 2 bed apartments with seaview 

1 x2 bed apartment with roof terrace

1x 1 bed apartment with seaview 

2 x 2 bed town houses with gardens at the rear.

All planning & listed building consent in place. 

The property underwent a complete refurbishment from the ground up in the mid-1990s, ensuring that it was equipped with modern standards of insulation and safety. This extensive upgrade included the installation of steel reinforcements, fire-resistant boards, and high-quality insulation materials, all aimed at enhancing the structural integrity and energy efficiency of the building. Additionally, the staircase has already been established, providing ease of access for future conversions or renovations. This comprehensive work ensures that the property meets contemporary expectations for comfort and safety, making it an ideal candidate for further development.

Once completed and fully let it will bring in an annual income of approximately £80k

Planning reference No: 23/02258/FUL

Services: The property currently benefits from main electric, water, and drainage.

Any developer purchasing the property would be expected to undertake the separation of the utilities for the converted and newly built properties. 

Material information: The information above has been provided by the vendor, agent and GOTO Group and may not be accurate. Please refer to the property’s Legal Pack. (You can download this once you have registered your interest against the property). This pack provides material information which will help you make an informed decision before proceeding. It may not yet include everything you need to know so please make sure you do your own due diligence as well.

Being Sold by GOTO Online Auction

Starting Bids from £325,000

Buy it now option available

Please call or visit Yopa Online Auctions for more information.

This property is for sale by Online Auction. The Online Modern Method of Auction is a flexible buyer friendly method of purchase. The purchaser will have 56 working days to exchange and complete once the draft contract has been issued by the vendor’s solicitor. Allowing the additional time to exchange and complete on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer with be required to put down a non-refundable reservation fee called a Buyer’s Premium. This secures the transaction and takes the property off the market. The buyer will be required to agree to our terms and conditions prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found on the online Auction website or requested from our Auction Department.

Please note this property is subject to an undisclosed Reserve Price which is typically no more than 10% in excess of the Starting Bid. Both the Starting Bid and Reserve Price can be subject to change. Our primary duty of care is to the vendor. Terms and conditions apply to the Modern Method of Auction, which is operated by GOTO Auctions.

To book a viewing visit Yopa.

This property is for sale by Online Auction which is a flexible and buyer friendly method of purchase. The purchaser will not be exchanging contracts on the fall of the virtual hammer but will be given 56 working days in which to complete the transaction, from the date the Draft Contract is issued by the seller’s solicitor. By giving a buyer time to exchange contracts on the property, means normal residential finance can be arranged.

The Buyer’s Premium secures the transaction and takes the property off the market. Fees paid to the Auctioneer reserve the property to the buyer during the Reservation Period and are paid in addition to the purchase price and are considered within calculations for Stamp Duty Land Tax. Further clarification on this must be sought from your legal representative. The buyer will be required to sign a Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Legal Pack which can be downloaded for free from our website or requested from our Auction Department.

Buyer Fees

• Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Buyer’s Premium of £6,600 including VAT a Legal Pack fee of £372 including VAT. This secures the transaction and takes the property off the market.

• Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland.

Disclaimer

Whilst we make enquiries with the Seller to ensure the information provided is accurate, Yopa makes no representations or warranties of any kind with respect to the statements contained in the particulars which should not be relied upon as representations of fact. All representations contained in the particulars are based on details supplied by the Seller. Your Conveyancer is legally responsible for ensuring any purchase agreement fully protects your position. Please inform us if you become aware of any information being inaccurate.

Money Laundering Regulations

Should a purchaser(s) have an offer accepted on a property marketed by Yopa, they will need to undertake an identification check and asked to provide information on the source and proof of funds. This is done to meet our obligation under Anti Money Laundering Regulations (AML) and is a legal requirement. We use a specialist third party service together with an in-house compliance team to verify your information. The cost of these checks is £70 +VAT per purchase, which is paid in advance, when an offer is agreed and prior to a sales memorandum being issued. This charge is non-refundable under any circumstances.