West Point, 1 Vernon Square, Ryde, Isle of Wight, PO33 2JQ

Description

Fully Let Freehold Residential Investment Opportunity
Seven Self-Contained Apartments

Location

Ryde is a popular seaside town on the Isle of Wight and has direct links to Portsmouth via the hovercraft and foot ferry, which leads to a wider transport network. Ryde is known as the second major commercial town on the island and home to many national and independent occupiers.

The property is situated on the corner of Vernon Square and Melville Street. The building is ideally located position within a short walking distance of the town centre, seafront, beaches and Island/mainland transport links.

Planning

Interested parties should make their own planning enquiries and satisfy themselves in this regard.

VAT

We understand that the property is not elected for VAT.

Accommodation

The property known as "West Point" comprises a beautifully maintained Grade II Listed building located in Conservation area and is surrounded by similar attractive period homes. In 1990/1991, the building was converted into seven apartments consisting of four x two bedrooms and three x one bedrooms. Each apartment is unique in its design and the majority benefit from magnificent views over the Solent and/or the attractive Vernon Square gardens.

Apartment 1 - Sitting Room, Kitchen, Two Bedrooms & Bathroom
Size - 46 sq m

Apartment 2 - Sitting Room, Kitchen, One Bedroom & Bathroom
Size - 47 sq m

Apartment 3- Sitting Room, Kitchen, Two Bedrooms & Bathroom
Size - 64 sq m

Apartment 4 - Sitting Room, Kitchen, Two Bedrooms, Shower Room & Separate W/C
Size - 46 sq m

Apartment 5 - Sitting Room with Kitchen area, Two Bedrooms, Shower Room & Separate W/C
Size - 52 sq m

Apartment 6 - Sitting Room, Kitchen/Diner, Bedroom, Bathroom & Separate W/C
Size - 60 sq m

Apartment 7 - Sitting Room, Kitchen/Diner, Bedroom & Bathroom
Size - 45 sq m

Business Rates / Council Tax Band

We understand the units to have the following Taxation -

Apartment 1 - Council Tax Band: B
Apartment 2 - Council Tax Band: A
Apartment 3 - Council Tax Band: B
Apartment 4 - Council Tax Band: B
Apartment 5 - Council Tax Band: B
Apartment 6 - Council Tax Band: A
Apartment 7 - Council Tax Band: A

EPC

We understand the properties have the following EPC ratings -

Apartment 1 - EPC Rating: E (09 April 2034)
Apartment 2 - EPC Rating: E (14 October 2026)
Apartment 3 - EPC Rating: E (08 August 2027)
Apartment 4 - EPC Rating: C (02 April 2029)
Apartment 5 - EPC Rating: D (07 October 2030)
Apartment 6 - EPC Rating: D (18 February 2034)
Apartment 7 - EPC Rating: D (20 October 2025)

Legal Fees

Each party to bear their own legal costs incurred.