Summary - 3, UNION STREET PO33 2DU
1 bed 1 bath Commercial Property
Period mixed-use freehold with established footfall and active income potential.
- Freehold mixed-use building on a busy Ryde high-street corner
- Ground-floor retail let at £12,000 pa on a 7-year FR&I lease
- Tenant break option at 3.5 years may affect short-term income
- Five flats sold on long leases; lower-ground flat negotiable separately
- Basement partly used by shop but not formally included in lease
- Small retail frontage and modest internal sales area
- Area: very high crime and very deprived — impacts management costs
- Close to ferry links, promenade, bus interchange and high footfall
A compact mixed-use freehold on a busy Ryde high street, offered as a long-term investment with ground-floor retail and residential accommodation above. The retail unit sits on a prominent corner, close to the promenade, ferry links and a busy bus interchange — locations that support steady footfall from locals and tourists. The building presents Victorian/Georgian period character and sits within a town centre that has seen sympathetic restoration in recent years.
Income is partly secured: the shop is let on a seven-year full repairing and insuring lease at £12,000pa with rent reviews linked to RPI (capped at 4%). There are five flats above sold on long leases; one lower-ground flat is separately negotiable. Note the current tenant’s option to break at 3.5 years and that part of the basement used by the shop is not formally included in its lease — these affect near-term income certainty and management tasks.
This is a value-led purchase for an investor comfortable with small-scale, urban assets. The unit’s internal retail area and external footprint are modest, so rental growth will likely come from lease management, reconfiguration or marketing to complementary occupiers. Broadband is fast and transport links are strong, supporting lettability.
Be clear about the locality: the area records very high crime and very high deprivation levels, which can influence tenant mix, insurance and management costs. The building will suit a buyer seeking a hands-on investment with potential to enhance income through active asset management rather than a passive, low-risk hold.
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