Property photos
Guide price
£425,000
(£106.25/sq. ft)
Block of flats for sale
Carisbrooke Road, Newport PO302,000 sq. ft
Local area information
Property location
Nearby amenities
- Nine Acres Primary School 0.2 miles
- Newport Church of England Aided Primary School 0.3 miles
- East Cowes Floating Bridge 4.1 miles
- West Cowes Floating Bridge 4.1 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Isle of Wight to find out more about the local area.
Features and description
Situated towards the western edge of the main Town Centre of Newport, opportunities for Freehold investments within the town are rarely available, therefore early interest is strongly encouraged.
The premises is mid-terraced and of conventional construction over four floors, with the upper floors having been converted to flats and studio accommodation, and with the ground floor now occupied by two commercial tenants.
Total potential income is some £39,460 pa, representing some 9.3% potential yield before costs.
Currently the ground floor is held by one of our joint clients on the balance of a 125-year ground lease from 1st April 1999, with a nominal ground rent currently at £150 pa, rising by £50 increments every 20 years.
The expectation is that, in the event of a sale, any interested purchaser may wish to combine the two tenures under one overall Freehold arrangement.
The premises is mid-terraced and of conventional construction over four floors, with the upper floors having been converted to flats and studio accommodation, and with the ground floor now occupied by two commercial tenants.
Total potential income is some £39,460 pa, representing some 9.3% potential yield before costs.
Currently the ground floor is held by one of our joint clients on the balance of a 125-year ground lease from 1st April 1999, with a nominal ground rent currently at £150 pa, rising by £50 increments every 20 years.
The expectation is that, in the event of a sale, any interested purchaser may wish to combine the two tenures under one overall Freehold arrangement.
More information
Listed by
Scotcher & Co
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