INVESTMENTS/DEVELOPMENT SITES

KEY:  
p.a.x - per annum exclusive (rental only, utilities and rates are extra) 
p.w.x - per week exclusive (rental only, utilities and rates are extra)
s.a.v - stock at valuation
o.i.r.o - offers in the region of

 

ALL AREAS

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NEW INSTRUCTION

NEWPORT - Office/retail unit in a prime location within the main High Street, offered either for sale or to let with the upper parts, due to the existing occupier’s impending relocation plans.

 

Offering about 450ft² (41.8m²) potential net sales, currently partly subdivided, with three first floor rooms above totalling some 373ft² (34.7m²) and a further second floor of about 147ft² (13.7m²).

 

EPC – ‘D’

 

Price Guide - £140,000 / Rental Guide - £16,250 p.a.x.

 

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NEW INSTRUCTION

NEWPORT - Available for sale only due to our clients’ relocation plans is this prime-located and extensive detached commercial premises in the heart of, and overlooking the main thoroughfare within, one of the Island’s most popular trading and industrial estates.

 

Suitable for a variety of occupiers and also benefitting from investment income, the premises provides at ground floor about 8,200ft² (762m²) GIA, currently subdivided as the main trade area, ancillary storage and loading, adjacent workshops, offices and stores, plus G/F welfare facilities. Additional first floor administration offices provide about 1,250ft² (125.14m²).

 

The main original first floor offices are currently let to the Isle of Wight NHS Trust to provide an investment income of some £21,000 p.a.x. and extend to about 3,000ft² (278.7m²) plus ground floor lobby and office.


The site benefits from a prominent location and ample on-site parking, and could suit a wide variety of occupiers, subject to any necessary consents.

 

EPCs - TBC

 

Price Guide - £945,000 Freehold (VAT status TBC)

 

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NEW INSTRUCTION

RYDE - The Royal Victoria Arcade is an iconic and historic Grade II* Listed building, considered unique on the Isle of Wight and now offered for sale for the first time in 45 years of our client’s ownership, as a commercial/residential investment and subject to the existing tenancies in situ.

 

The property enjoys a main frontage as shown to Union St, with a return frontage to Church Lane, and is understood to have been built in 1835/6, and it is an early example of a purpose-built shopping arcade, surviving substantially intact except for certain modification, refurbishment and improvement works over the years.


The property enjoys many character features and was built and named after Princess Victoria following her stay at Norris Castle here on the Island.


Constructed over three floors, with extensive basement, ground floor and first floor over, comprising a range of business occupiers and some residential units, all let either on commercial units or ASTs – further details available on request. Currently showing a gross income yield of about 11.5% before costs, with the potential to improve.

 

EPC - Exempt

 

Price Guide - £750,000 Freehold

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COWES - Development opportunity, well-situated within easy reach of the Town Centre of this popular yachting town, and originally comprising three town houses utilised in recent years as a commercial premises but now with P/C for conversion back to three dwellings.


The property includes an existing self-contained income-producing flat, let on an AST.

 

The expectation is that this is a reasonably straightforward conversion project for an investor/developer, and it should be viewed to be fully appreciated.

 

EPC - TBC

 

Price Guide - £300,000 Freehold.

 

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NEWPORT - Prime-located retail investment opportunity in the heart of Newport, currently let on the balance of a lease until September 2017 to a national covenant. The accommodation is built over three floors, with a wide frontage to the main High Street.


The investment is to be sold subject to the existing tenancy in situ, and offers an initial yield of some 7.63% gross before costs.

 

EPC – ‘D’

 

Price Guide - £975,000

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NEWPORT - Town Centre freehold property over three floors, offered for sale or to lease with early vacant possession if required, and suitable for a wide variety of occupiers, subject to any necessary consents.

 

Ground floor net sales of some 760ft² (70.22m²), plus welfare and ancillary space. First floor offices with a net area of about 580ft² (53.88m²), plus staff/welfare facilities, supplemented by two second floor store rooms. Closed rear garden.

 

EPC - TBC

 

Price Guide - £175,000 / Rental Guide - £11,500 p.a.x.

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LAKE - A two-storey premises comprising a ground floor unit with sales area, office and kitchen, providing overall 724ft²  (67.3m²), plus first floor offices and former bathroom over, providing overall 344ft² (32m²), currently with A2 consent but clearly suitable for alternative uses, including possible residential conversion, subject to p/c.

 

Enclosed rear garden, and for sale freehold with vacant possession.

 

EPC – ‘E’

 

Price Guide - £125,000

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EAST COWES - Extensive end-terrace property built over three floors within the Town Centre, and suitable for a variety of occupiers, subject to any necessary consents.

 

We are instructed to invite ‘expressions of interest’ either on a leasehold basis, as a whole or in part, or alternatively on the basis of a sale of the whole.

 

The accommodation includes the former ground floor library of some 924ft² (85.88m²) plus first floor rooms providing some 609ft² (56.61m²) plus welfare facilities, and above that the second floor again subdivided as rooms to provide some 759ft² (17.53m²). Some rear yard/parking may be available by negotiation.

 

EPCs: Ground Floor - ‘D’ and Upper Floors - ‘E’


Expressions of interest will need to be put forward in writing to the agents no later than COB on Friday 31st May 2019.

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UNDER OFFER

Situated on the outskirts of Cowes, in an area noted for industrial and other commercial users, this industrial business park been developed in recent years by our client and is now offered for sale as individual investment blocks, either singly or in combination, as income-producing commercial investments.

 

The investments comprise the original central older Block 1, now subdivided into workshops and offices, all individually let, coupled with Blocks 2 and 3, which are detached developments of industrial/warehousing units, again individually let to produce income.

 

For full details of the accommodation on offer, please make enquiries of the agent by phone or e-mail.

 

EPCs – To Be Supplied

 

Price Guides:

Block 1 - £265,000 + VAT

Block 2 - £450,000 + VAT

Block 3 - £435,000 + VAT

 

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NEWPORT OUTSKIRTS - Terraced lock-up garage available to purchase in a quiet location on the western edge of Newport. The garage offers slightly wider than usual internal dimensions and is available on a freehold basis.

 

EPC – N/A

 

Price Guide - £12,000 Freehold

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NEWPORT - Freehold property for sale, comprising a mid-terrace older-style premises towards the Town Centre, incorporating a lock-up shop (currently let) and well-presented two-bedroom flat over, plus rear gardens. Of particular interest to investors or possibly owner-occupiers.

 

EPCs – Shop – ‘C’ and Flat - ‘F’

 

Price Guide - £145,000 Freehold.

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FRESHWATER - Freehold commercial property for sale, occupying an excellent trading location within the Island’s main West Wight town, and suitable for a variety of occupiers subject to any necessary consents. Current configuration is net sales of some 255ft² (23.7m²) backed by ancillary storage of about 260ft² (24.1m²), currently incorporating a former ‘cold room’.

 

Freehold opportunities anywhere on the Island are rarely available and therefore early interest is encouraged.

 

EPC – ‘D’

 

Price Guide - £80,000 Freehold

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UNDER OFFER

COWES/NORTHWOOD - An unusual opportunity to purchase the freehold interest in this site and buildings, well-placed with return frontages between Newport Road and Nodes Road, and comprising an extensive site with parking and expansion space. The buildings provide some 4,000ft² (371.6m²) overall, incorporating a 2003 new-build of about 2,500ft² (232.25m²) plus the original older section.

 

The accommodation incorporates offices, food preparation areas, cold rooms (if required), retail shop and staff facilities. It has most recently has been used for the preparation and distribution of fresh foods (mainly fish) and associated products but could suit a wide variety of other uses and possible development, subject to any necessary consents.

 

EPC - 'C'

 

Price Guide - £375,000

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Eight secure car parking spaces (six still available), available singly or in combination, adjacent to the recently extensively refurbished Riverbank Estate, in turn an integral part of Riverway and within easy reach of the main Town Centre.

 

EPC – N/A 

 

Available leasehold at £500 p.a.x. + VAT per space.

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RYDE - Occupying a prominent location at the lower end of the popular Union Street and built over four floors, this potentially is a very elegant Grade II Listed property. However, it will benefit now from considerable internal works and improvements, so is undoubtedly an interesting ‘project’ for the right person, be it an owner-occupier or investor/developer.

 

Offered for sale with vacant possession and on a freehold basis to comprise basement, ground floor former takeaway/café and two floors above, with potential for a wide variety of occupiers, subject to any necessary consents.

 

EPC - N/A

 

Price Guide - £200,000

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NEWPORT - Freehold opportunity for sale in the Island’s main Town Centre and suitable for a variety of occupiers, subject to any necessary consents. The property comprises the commercial element over two levels of some 700ft² (65m²) incorporating rear ancillary space comprising a modern fitted kitchen area and WC facility.


The first floor incorporates a front office of 150ft² (13.9m²) plus landing and spacious WC facility (former shower room). The top floor comprises two rooms of some 280ft² (26m²) NIA. Early interest is encouraged.

 

EPC – ‘D’


Price Guide - £150,000

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REDUCED PRICE

FRESHWATER - Situated between Freshwater and Freshwater Bay in private gardens and grounds of some 2.3 acres, this unusual opportunity comprises the main premises, incorporating five elegant B&B en-suite rooms plus a further six bedrooms, a large kitchen and ancillary accommodation plus equivalent reception rooms, coupled with a detached single-storey three-bedroom self-catering cottage.

 

The main property also includes a number of outbuildings, including an art studio, and we believe it could suit a wide variety of occupiers and users, subject to obtaining any necessary consents, whilst currently offering a mix of tourist and other accommodation.

 

Offered with the benefit of ongoing bookings if required, this opportunity is otherwise offered with vacant possession upon legal completion and it should be viewed to be fully appreciated.


Freshwater is the main West Wight town; however, the West Wight in general is noted for its fine countryside and beaches and is an area popular with both tourists and locals alike.

 

EPCs - TBC

 

Price Guides:

Main Building & 'The Studio' - £750,000 Freehold

N/B: Pine Lodge, a separate 4-bedroom detached 1980s house, is available to purchase additionally/separately at a price guide of £300,000. Please enquire for further details.

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SHANKLIN - Lock-up shop unit available to buy within this popular resort town centre and suitable for a variety of occupiers, subject to any necessary consents. Available with the current tenant in situ.

 

Providing some 340ft² (31.6m²) and available on the basis of a new 125-year ground lease.

 

EPC – ‘C’

 

Price Guide - £45,000

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THE APEX, ST CROSS BUSINESS PARK. Extensive potential B1 (office and light industrial accommodation) also suitable for R&D (Research & Development) currently built in shell finish to provide unit sizes from approaching 900 ft² (83.6m²) upwards, available in bay multiples over ground or first floor as appropriate, all in a central Newport location and suitable for various occupiers, subject to any necessary consents.

Our clients will fit the accommodation to an appropriate specification. For light industry this can include electrically-operated up and over roller-shutter style doors. With regard to offices, price guides again will be determined by the eventual finish with air con available additionally if required.

Well-located within St Cross Business Park, just to the north of Newport Town Centre. Although the accommodation is available leasehold with rentals calculated from £8.50 per ft² + VAT subject to terms and specification, our clients will also consider the sale of units from £85 per ft² upwards, according to final specification.

EPC - TBC

Further details on application.

 

NEWPORT - Freehold mixed residential and commercial investment/development opportunity within the Island's main Town Centre. Comprising a mixed use property, providing two ground floor retail units (let) with a self-contained flat over (let).

 

The freehold is being sold subject to the existing business and residential tenancies in situ, which are unaffected by the sale. Gross annual rental income is currently approx. £23,000 p.a.x.

 

EPCs – On Request

 

Price Guide - £270,000

 

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NEWPORT - An extensive premises providing some 5,403ft² (502m²) located in the heart of Dodnor Estate, in an area noted for a wide mix of commercial users. The property is for sale freehold and, as such, is a rarity and could suit a wide variety of occupiers, subject to any necessary consents.

 

Most recently trading as a retail showroom, trade counter and former motorcycle workshops, all with offices over and ample on-site parking. Available for sale due to our client’s retirement plans.

 

EPC – ‘C’

 

Price Guide - £300,000 + VAT

 

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NEWPORT - Mixed commercial/residential investment for sale in the Island’s main Town Centre, comprising a terraced block of shops (two currently vacant) with converted residential flats over.

The property is, we understand, Grade II Listed, under a recently renewed tile roof and benefitting from recent external decoration – total current income: £49,055 pa. However, if fully let, potentially the income could increase to £66,550pa.

The property is offered for sale on a freehold basis, but subject to any existing tenancy arrangements in situ.

EPCS: ‘C’, ‘D’ and ‘E’

Price Guide - £625,000 + VAT

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REVISED PRICE

NEWPORT - Attractive Town Centre shop to buy or rent, to provide some 655ft² (60.85m²) in a popular mixed trading location just off the main High Street of Newport, and suitable for a variety of occupiers subject to any necessary consents.

 

If purchased, the property can be available with or without the existing tenancy arrangements in situ. Alternatively, we further understand that vacant possession is available.

 

N/B: Our clients also own the flat above the shop, which has recently been refurbished and offers spacious 2-bedroom self-contained accommodation over two floors and may be available to purchase with the shop subject to negotiations. Please ask for details.

 

EPC – ‘C’

 

Price Guide - £82,950

Rental Guide - £7,950p.a.x.

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UNDER OFFER

SHANKLIN - Town Centre retail opportunity with development potential to incorporate a self-contained two-bedroom flat, available now for sale. Situated in close proximity to Shanklin Theatre, between the Old Village and Regent Street.

Currently comprising a spacious shop backed by a range of store rooms etc. and with rear steps access from Prospect Road. P/C exists for the development if required.

 

EPC – ‘C’

 

Price Guide - £80,000 (Ground Leasehold)

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NEWPORT - Modern warehouse building, providing some 8,000ft² (743m²), with excellent eaves height and additional yard/parking. Available now to purchase (or may lease STT) due to our client’s relocation plans.

 

Located within the Dodnor Industrial/Trading Estate, which itself is just north of the main Town Centre. Purchasing opportunities such as this are rare, therefore early interest is encouraged.

 

EPC – TBC

 

Price Guide - £625,000
(On the balance of a 125-year ground lease, 106 years unexpired)

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WROXALL - Development opportunity subject to planning available for sale within the heart of this village located in the South Wight.                                                                       .

PRICE GUIDE AND FURTHER DETAILS ON APPLICATION

 

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EAST COWES - Residential investment opportunity, comprising 3 modern single-bedroom flats, available singly or in combination and all currently let on ASTs at £395 pcm. All with gas C.H.

EPC – ‘C’

 

   

Scotcher & Co Commercial Properties - Isle of Wight