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George Street Chambers, 22 George... 3 bed property for sale
George Street Chambers, 22 George Street, Ryde, Isle Of Wight
£290,000
George Street Chambers, 22 George Street, Ryde, Isle Of Wight
£290,000
Our Summary
- Currently partially occupied, the building is considered ideal for use as an income producing investment with the scope to increase the rent through letting the remaining units
- The building has previously had the benefit of planning consent for full conversion to residential accommodation either as a single dwelling or apartments, or it is considered that there may be potential for an HMO, subject to all necessary consents being obtainable
- Office 6 - Let under the terms of an Agreement - the tenant is due to vacate before the auction
- Freehold with Part Vacant PossessionResidential EPC: DCommercial EPC: DImportant:All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers
- Auction Date : 12 June 2025
- For Sale by Online Auction
Description
This Georgian building in Ryde town centre offers a unique investment opportunity, with a recently refurbished three-bedroom flat on the lower ground floor and offices above, producing a worthwhile income. The building is currently partially occupied, with the potential to increase the rent by letting the remaining units. With planning consent for full conversion to residential accommodation, it could be converted into a single dwelling or apartments, or even used as a House of Multiple Occupation (HMO) subject to necessary consents. The property benefits from a total floor area of 304 sq.m. and gardens to the front and side, with an EPC rating of D (88). The offices are let under various agreements, with tenants responsible for utilities, Wi-Fi, and cleaning charges, while the residential flat is let under an Assured Shorthold Tenancy at a current rental of £790 per month.