27-29 High Street

LOCATION
Situated in Shanklin High Street this property is in a great location for local traders and nationals alike.

Shanklin has a population of just over 9,000 and is a seaside resort but benefits from tourists all year round. The town also offers the first stop for the Island's train and is within easy reach of other towns including Ventnor, Sandown and Ryde accessed via the main A3055.

DESCRIPTION
Offered for sale is two retail premises with permission for the conversion of the first floor and lower ground floor to residential accommodation.

The ground floor offers two commercial units, one currently occupied by The Copper Kettle, which includes a lower ground flat, and the other occupied by the Barber Club.

The Barber Club has been in situ for over 10 years and pays a current rent of £8,760 + VAT per annum
The Copper Kettle has been operating for over 30 years and currently pays £11,450 + VAT per annum.

The current rental income for the property totals £20,210 + VAT per annum.

The floors above currently offer vacant office accommodation, however the current owner has been granted the following permission:

No. 27 lower ground floor into a large studio flat
No. 27 - 29 first floor into 2 x 1 bed flats. One with study.

TERMS
Our client is asking Guide Price £275,000 for this freehold investment opportunity
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The property is elected for VAT.

VIEWING
All viewings to be arranged via HRD Commercial.