COMMERCIAL
Great Preston Road, Ryde, Isle of Wight
£175,000
- PROPERTY TYPE
Commercial Property
- SIZE
Ask agent
Key features
- Block of 17 garages
- Fully let to private tenants
- Gross income of approximately £14,000 per annum
- Established residential location
- Access directly from main road
Description
An excellent opportunity to acquire a fully let garage investment producing an established income within a popular residential area of Ryde, producing a gross yield of 8%.
An opportunity to acquire a block of 17 garages together with associated access and circulation space, situated within a well-established residential area of Ryde on the Isle of Wight. The property is fully occupied and currently generates a gross rental income of approximately £14,280 per annum, equating to a 8% gross yield.
The site presents an attractive investment opportunity for private investors, local landlords and cash purchasers seeking a low-management income-producing asset. Demand for secure garage accommodation remains strong across many residential areas, particularly where off-street parking and storage provision is limited.
The garages benefit from direct access from Great Preston Road and occupy a convenient position within easy reach of Ryde town centre and surrounding residential neighbourhoods.
Situation - The property is situated within a predominantly residential area of Ryde, one of the Isle of Wight's principal towns. Ryde offers a comprehensive range of shopping, educational, leisure and transport facilities, including mainland ferry and hovercraft connections to Portsmouth and Southsea.
Great Preston Road is conveniently located for access to the town centre, local amenities and surrounding residential districts. The location supports continued demand for garage and storage accommodation, making the property well placed as a long-term investment holding.
General Remarks - Method of Sale
The property is offered for sale by Private Treaty.
Tenure and Possession
The property is freehold and sold subject to existing tenancies.
Tenancies
All garages are currently let to private individuals under tenancy arrangements. Purchasers should satisfy themselves regarding tenancy arrangements and income following receipt of the legal documentation. Further details available from selling agents.
Access
Access is taken directly from Great Preston Road via a shared driveway forming part of the title.
Postcode
PO33 1DB
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EPC & Council Tax
N/A
Services
There are no mains services connected to the garages.
Rights of Way
A right of way will be granted to the owners of the neighbouring flats from Great Preston Road to their own garages and parking, hatched blue on the sale plan.
Easements and Covenants
The property will be sold subject to and with the benefit of all existing rights, easements, wayleaves, covenants and restrictions whether specifically referred to in these particulars or not.
Plans, Areas and Measurements
Any plans, areas and measurements contained within these particulars are provided for identification purposes only and should not be relied upon as statements of fact. Purchasers should satisfy themselves by inspection and survey.
Health & Safety
Viewers inspect the property entirely at their own risk and should exercise appropriate caution when viewing the site.
An opportunity to acquire a block of 17 garages together with associated access and circulation space, situated within a well-established residential area of Ryde on the Isle of Wight. The property is fully occupied and currently generates a gross rental income of approximately £14,280 per annum, equating to a 8% gross yield.
The site presents an attractive investment opportunity for private investors, local landlords and cash purchasers seeking a low-management income-producing asset. Demand for secure garage accommodation remains strong across many residential areas, particularly where off-street parking and storage provision is limited.
The garages benefit from direct access from Great Preston Road and occupy a convenient position within easy reach of Ryde town centre and surrounding residential neighbourhoods.
Situation - The property is situated within a predominantly residential area of Ryde, one of the Isle of Wight's principal towns. Ryde offers a comprehensive range of shopping, educational, leisure and transport facilities, including mainland ferry and hovercraft connections to Portsmouth and Southsea.
Great Preston Road is conveniently located for access to the town centre, local amenities and surrounding residential districts. The location supports continued demand for garage and storage accommodation, making the property well placed as a long-term investment holding.
General Remarks - Method of Sale
The property is offered for sale by Private Treaty.
Tenure and Possession
The property is freehold and sold subject to existing tenancies.
Tenancies
All garages are currently let to private individuals under tenancy arrangements. Purchasers should satisfy themselves regarding tenancy arrangements and income following receipt of the legal documentation. Further details available from selling agents.
Access
Access is taken directly from Great Preston Road via a shared driveway forming part of the title.
Postcode
PO33 1DB
What3Words
///extra.hidden.radio
EPC & Council Tax
N/A
Services
There are no mains services connected to the garages.
Rights of Way
A right of way will be granted to the owners of the neighbouring flats from Great Preston Road to their own garages and parking, hatched blue on the sale plan.
Easements and Covenants
The property will be sold subject to and with the benefit of all existing rights, easements, wayleaves, covenants and restrictions whether specifically referred to in these particulars or not.
Plans, Areas and Measurements
Any plans, areas and measurements contained within these particulars are provided for identification purposes only and should not be relied upon as statements of fact. Purchasers should satisfy themselves by inspection and survey.
Health & Safety
Viewers inspect the property entirely at their own risk and should exercise appropriate caution when viewing the site.
Brochures
Great Preston Road, Ryde, Isle of WightGreat Preston Road, Ryde, Isle of Wight
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Ryde St. Johns Road Station0.4 miles
- Smallbrook Junction Station0.8 miles
- Ryde Esplanade Station0.9 miles
About BCM Wilson Hill, Isle of Wight
Red Barn, Cheeks Farm, Merstone Lane, Merstone, PO30 3DEIndustry affiliations:
Notes
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Disclaimer - Property reference 34816762. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by BCM Wilson Hill, Isle of Wight. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.