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A ground floor double commercial unit located along the High Street, Sandown known as numbers 83 and 85 and having 60 covers and extending approximately 1,835 square foot.
The units at the time of listing are occupied by a restaurant currently paying £15,600 per annum and trading as Serenitys however we have been advised by the vendor there will be vacant possession from December 2022.
The vendor has advised that the unit can be split into two separate units with the number 85 having extraction and other catering equipment along with an A2 licence. We advise interested parties to inspect the premises and the legal pack before bidding.
Set towards the eastern end of Sandowns High Street putting it close to Culver Parade, the beaches and Sandown Espalande, providing high footfall and benefitting from the dramatic improvement to this area including the redevelopment of the cafe and amusement arcade to luxury houses and apartments and the development of the Pitch and Put and Park area which should prove a large draw to tourists during the coming summer season. Sandown forms part of the Sandown-Shanklin-Lake conurbation which wrap around Sandown Bay with the sandy beaches and leisure offer of the area ensuring high numbers of visitors tourists and locals, which swell the area's population of circa 19,500. Sandown s seafront is a magnet to tourists and locals alike, flocking to the area to enjoy the many facilities and amenities on offer besides the famous sandy beaches including the Isle of Wight Zoo, Dinosaur Island, Browns Pitch & Putt and boat park and Sandown Pier with its rides and attractions.
Freehold. Vacant possession upon completion.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms.
Auction Deposit and Fees
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1074 inc. VAT
The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
