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The Stag (former) 45 Sandown Road Rd 1,369 SF Retail Building Sandown PO36 9JL $526,295 ($384.44/SF)
INVESTMENT HIGHLIGHTS
- Benefit of planning permission for full residential conversion (Isle of Wight Council Ref: 21/01784/FUL)
- Freehold interest for sale, with offers invited "in the region of" £395,000
- Located on bus route & close to railway line
EXECUTIVE SUMMARY
Freehold interest of the whole building for sale, with offers invited "in the region of" £395,000.
The ground floor benefits from planning permission for conversion to 3 separate flats under planning reference 21/01784/FUL.
The upper floors are currently let out and are generating an income of circa £21k per annum.
The Stag is a substantial and highly visible detached property on the corner of the junction of Sandown and Newport Road and around the corner from the new Merrie Gardens Retail Park. These two major arterial roads link the Sandown-Shanklin-Lake conurbation with the major towns of Newport, Ryde and Cowes.
Ground floor former pub/restaurant area runs to circa 88m² (947 ft²) including the bar which is mainly open plan. There is a children's room/function room to the rear of the premises with a small kitchen and ancillary storage area. The public areas are supported by ladies and gents toilet facilities.
The ground floor benefits from planning permission for conversion to 3 separate flats under planning reference 21/01784/FUL.
The upper floors are currently let out and are generating an income of circa £21k per annum.
The Stag is a substantial and highly visible detached property on the corner of the junction of Sandown and Newport Road and around the corner from the new Merrie Gardens Retail Park. These two major arterial roads link the Sandown-Shanklin-Lake conurbation with the major towns of Newport, Ryde and Cowes.
Ground floor former pub/restaurant area runs to circa 88m² (947 ft²) including the bar which is mainly open plan. There is a children's room/function room to the rear of the premises with a small kitchen and ancillary storage area. The public areas are supported by ladies and gents toilet facilities.
FINANCIAL SUMMARY (PRO FORMA - 2022) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$27,980
|
$20.44
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$27,980
|
$20.44
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (PRO FORMA - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $27,980 |
| Annual Per SF | $20.44 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $27,980 |
| Annual Per SF | $20.44 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
Sale Type
Investment
Sale Conditions
Property Type
Retail
Tenure
Freehold
Property Subtype
Bar
Building Size
1,369 SF
Building Class
C
Year Built
1960
Price
$526,295
Price Per SF
$384.44
Tenancy
Single
Building Height
3 Stories
Building FAR
0.33
Lot Size
0.10 AC
AMENITIES
- 24 Hour Access
- Security System
1 1
NEARBY MAJOR RETAILERS
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The Stag (former) | 45 Sandown Road Rd
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