The block
TENURE
Leasehold
NO OF UNITS
2
TENANCY STATUS
Tenanted
FURNISHED
No
TOTAL SQ FT
2,590
PRICE SQ FT
£203
SERVICE CHARGE
£2,000
Block information
- The block contains two newly refurbished apartments, see below for more information
- Spread over 2 floors each, the apartments comprise:
- 3 x double bedrooms
- The main bedroom has an ensuite shower room
- Family bathroom
- Separate WC
- Open-plan living/kitchen area
- Sea views, overlooking Solent
- Each apartment is entitled to apply to the council for 2 parking permits
- Parking is close by behind the apartments
- Council tax band: B
- EPC rating: D
- The vendor is open to selling the freehold of the entire building for a nominal amount
- The vendor is also open to selling the flats individually, see our separate listings
Leasehold information
- Length of lease: 999 years
- Year lease started: 2023
- Years left on lease: 999 years (from 2023)
- Service charge: anticipated amount, subject to change
- Service charge review period: annually
- Ground rent charge: nominal
- Ground rent review period: tbc
Refurbishment information
- The external facade of this Victorian building was fully restored
- Both apartments were completely refurbished and works included:
- Rewiring
- Replumbing
- Installation of new gas central heating system
- New double-glazed windows
- Underfloor heating in the bathroom and ensuite shower room
- New carpets
- New kitchen
- New bathroom
- Decorated throughout
Rental information
- One of the apartments is now let at £1,250 pcm
- The other apartment is being advertised for rent and is expected to also achieve £1,250 pcm
- Expected monthly rental income: £2,500
- Expected annual rental income: £30,000
Location information
- The block is located in the centre of Ryde, just off the hustle and bustle of the main high street
- All local amenities including shops, cafes, and pubs are just a short walk away
- Ryde Esplanade is a 7-minute walk away, which houses a train station for local travel as well as the hovercraft port with services to the mainland taking only 10 minutes
- At the end of Ryde Pier is the high-speed FastCat to Portsmouth taking around 20 minutes
- The car ferry to Portsmouth is only 3 miles away in Fishbourne
- The properties are ideally located for commuting to the mainland or for anyone looking for a holiday apartment with excellent transport connections and within walking distance of the beach
Note
Please note that Vesta has not visited this property and that all material has been provided by the vendor.
Need more information?
REQUEST BLOCK DETAILS
Documents available on request, please contact for viewings or further questions.
The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.
Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.
About Ryde, Isle of Wight
Ryde is a seaside town in the northeast on the Isle of Wight.
The town has fantastic transport connections which include a hovercraft service to Southsea, which takes only 9 minutes. There is also a catamaran service that runs from Ryde Pier to Portsmouth Harbour, connecting with both the Island Line trains and mainland trains to London Waterloo. The Island Line train operates services from Ryde Pier Head via Ryde Esplanade to Shanklin. Local buses connect Ryde to other towns on the island.
Some of the local landmarks include Ryde Beach and Pier, Ryde Castle, Appley Beach and Puckpool Park, and the Waltzing Walters. The Isle of Wight steam railway takes passengers on a nostalgic steam train journey through picturesque countryside. Ryde hosts several events and festivals throughout the year including Ryde carnival, music concerts, arts and crafts fairs, and sporting events. The town centre boasts an array of shops, cafes, restaurants and traditional pubs. The main shopping areas are Union Street and High Street, offering a mix of independent stores, well-known brands, and local produce.
Education is provided by several primary and secondary schools.
Ryde's economy is diverse, with various sectors contributing to its growth and employment opportunities. The town's tourism industry plays a significant role, as it attracts visitors from both mainland England and other parts of the Isle of Wight. The sandy beaches, Victorian architecture, and recreational facilities draw tourists who contribute to the local economy through spending on accommodations, dining, shopping, and entertainment. The retail sector also plays a vital role in Ryde’s economy, and it benefits from its strategic location as a transportation hub. The town's pier and ferry connections to mainland England, particularly Portsmouth, make it an important gateway to the Isle of Wight. This transportation infrastructure supports the tourism industry and facilitates the movement of people and goods, contributing to the local economy.
What makes us different?
Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.
Benefits include:
- Buy tenanted property
- Huge choice for all budgets
- View property performance data
Important Note
All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.
Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.
In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.
Authorised and regulated by the property ombusdman
Copyright © 2023 Vesta Global Limited. All rights reserved.