Description
Just off The Esplanade; easy walking distance from the ferry terminal, beach and town centre
4 Self Contained One Bedroom Flats; Parking for one vehicle.
Booking.Com – Very Good
The detached Victorian Grade 2 Listed property was built in 1849 and is located just one road back from and parallel to The Esplanade close to the pier and ferry terminal from Southsea. The building is constructed with rendered elevations under a slate roof and was converted into flats many years ago. The polished wooden floors allow for easy cleaning and the flats are fully furnished and equipped for use as holiday flats. Flat 1 has gas fired radiator central heating and the other three have electric boilers supplying radiators.
Ryde is the largest town on the Isle of Wight and Paul McCartney recently confirmed that the Beatles hit Ticket to Ride was inspired by a trip to Ryde made by Macca and John Lennon in the early sixties.
This quirky fact is just one part of the story of Ryde.
It’s a fantastic place that combines shopping centres, nights out and golden sands – making it a great holiday destination.
This gateway to East Wight has excellent connections to the mainland and is an ideal entry point to the rest of the Island via the hovercraft from Southsea and Wightlink Fastcats from Portsmouth The seafront is perhaps its crowning glory with miles of gorgeous sand, loads to see and do, and a seawall footpath that takes you past lovely cafes and restaurants.
If a spot of shopping beckons then Union Street is perfect, boasting superb bars and restaurants blended in with independent shops selling all sorts of goods, while the Royal Victoria Arcade halfway along the street is ideal for browsing quirky bargains.
In the arcade you will find The Museum of Ryde from Ryde Heritage Society, which includes the infamous collection of saucy postcards by Donald McGill.
Two of the flats are located on the ground floor and can each sleep two and two flats are on the first floor and each can sleep four.
Outside:
Front – Space for one vehicle
Rear – Small enclosed courtyard
Tenure: 999 year lease.
The Business – a long established holiday letting business which is rated Very Good on Booking.com. The owners used to live here around 25 years ago and now let the whole property as four fully fitted and well decorated holiday flats. Now, an employee carries out the cleaning on change over days.
Tariffs for each flat range from £75 per night to £160 per night during peak periods.
The owners are selling the business to fully retire and new owners are likely to improve the current turnover of approx. £39,000 p.a. as trade has been restricted due to ill health i.e.:
£75/night for 4 flats for 6 nights only for only 6 months = £46,800 p.a. or,
£100/night for 4 flats for 7 nights for only 6 months = £72,800
In fact, the business ticks over in the quieter months.
Ideal for local residents, or home and income, or remote investors….
Price: £425,000 including all furniture, fixtures, equipment etc.
