15 High St 790 SF 100% Leased Retail Building Ventnor PO38 1RZ $87,267 ($110.46/SF) 7.60% Cap Rate

Lot 143 is available for sale at Savills' to be held on 28th May 2025.
The property comprises an long leasehold investment opportunity for sale.
The asking price is £45,000 representing a gross initial yield of 10.98%.
Investment Consideration:
Vacant possession
ERV: £9,000 p.a. GIY: 13.85%
VAT is NOT applicable to this property
Comprises ground floor retail shop
Suitable for variety of uses (Class E)
Situated in the heart of the town centre with nearby occupiers include Post Office and Premier Express, amongst others.
Property Description:
Comprises ground floor retail shop previously t/a Pet Store, providing the following accommodation and dimensions:
Ground Floor: 73.40 sq m (790 sq ft)
Open plan retail, Storage, WC
Tenancy:
The shop is at present vacant. ERV: £9,000 p.a.
Tenure:
Long leasehold. Held on a 999 year lease from 18 November 2011 at a ground rent of peppercorn.
Location:
Ventnor is a seaside resort and civil parish established in the Victorian era on the south-east coast of the Isle of Wight, England, eleven miles (18 km) from Newport. It is situated south of St Boniface Down, and built on steep slopes leading down to the sea.