* Leasehold
* For Sale by Online Auction
* Auction Date : 01 November 2023
* Lot Number : 69
* Town Centre Commercial Investment
* Commercial Investment
* Leasehold
* Current Rental : £11, 000 Per Annum
* *Guide Price : £90, 000 Plus + Fees
This double - width former shop unit is located on Regent Street, which is
considered to be the main trading street in Shanklin, a popular seaside town
on the south - east corner of the Isle of Wight.
Formerly two retail units, the property is, at present, let to a tech company,
originally under the terms of a three - year lease but with an additional year
having recently been negotiated for addition to the lease term.
**Ground Floor**
Two former retail units now largely knocked through into a single open - plan
office environment with a workshop/office, staff kitchen and cloakroom with
W. C.
**Outside**
To the rear is a small courtyard - style garden and rear pedestrian access.
**Tenancy**
Occupied under the terms of an initial four - year lease from October 2021 at a
rental of £11, 000 per annum.
**Tenure**
To be sold under the terms of a new 125 - year lease which will commence upon
completion of the sale. **
Commercial EPC: D** **
Important:
All lots are sold subject to the Common Auction Conditions and Special
Conditions of Sale (unless varied by the Sellers Solicitors), together with
the Addendum, which will be available on the Auction Day. **
**Please note, following the Governments advice, lots are now being offered
via our online platform. To register for our online auction please go to our
online auction page . For further information please go to or call us on .
Price Information
*Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at , or contact us on , in order to stay fully informed with the up - to - date information.
*An Administration fee and Other non - optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to **

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