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Waterside House
72a High Street
Cowes
Isle of Wight
PO31 7RE

01983 219967
commercial@spencewillard.co.uk

Cowes Office
Jamie Whittle

Waterside House
72a High Street
Cowes
Isle of Wight
PO31 7RE

01983 200880
cowes@spencewillard.co.uk

Cowes Office
Charles Spence
Charles Spence
Tanya Hill
Tanya Hill
Spence Willard team
Emma Bradley
Zadie Margham
Zadie Margham
Natalie Miley
Natalie Miley

Sherbourne Street
Bembridge
Isle of Wight
PO35 5SB

01983 873000
bembridge@spencewillard.co.uk

Spence Willard Bembridge
Spence Willard team
Sam Branston
Hannah Cook
Hannah Cook
Lauren Taylor
Lauren Taylor
Charlotte Branston
Charlotte Branston

The Square
Yarmouth
Isle of Wight
PO41 0NP

01983 761005
yarmouth@spencewillard.co.uk

Spence Willard Yarmouth
Spence Willard team
Duncan Willard
Lesley Samson
Lesley Samson

The Old Bank
Tennyson Road
Freshwater
Isle of Wight
PO40 9AB

01983 756575
freshwater@spencewillard.co.uk

Spence Willard Freshwater
Jason Siviter
Jason Siviter
David Langford
David Langford
Sarah Kujawa
Sarah Kujawa

The Square
Yarmouth
Isle of Wight
PO41 0NP

01983 761005 opt 2
lettings@spencewillard.co.uk

Spence Willard office
Laura Homes
Alice MacNab
Alice MacNab
Henrietta MacLean
Henrietta MacLean

40 St James' Place
London
SW1A 1NS

020 7839 0888
london@spencewillard.co.uk

Spence Willard London office
Bob Bickersteth
Bob Bickersteth
Katinka Stampa Orwin
Katinka Stampa Orwin
Contact

Location
Situated on Cowes Parade this office has fantastic views over the Solent within a mixture of various neighbouring commercial and residential properties. Cowes is an internationally renowned yachting centre and, with its high speed ferry links to Southampton, a very popular destination for the locals, yachting community and tourists alike. There is ample parking available on The Parade.

Retail Unit/Offices A ground floor office/retail unit with double aspect windows to the front, along with a number of separate offices and meeting rooms to the rear, a photocopier / plant room and shared WCs and kitchen.

The front office/ retail unit is now vacant but was let at £7,500 per annum whilst the majority of the rear offices are let to Finch Insurance brokers on an annual licence at £11,000 per year paid quarterly. An office /conference room is vacant but was previously let for around £2.500 per annum.

The tenants that currently let the office to the rear have access through the front office or via a rear access from Bath Road. The front office space also has air conditioning, wooden floors and spotlights.

Storage Lockers/Gym
This investment opportunity also benefits from owning the gym and lockers located to the rear of the offices for which additional rental is paid. The gym is for the use of the residents of the apartments within Number One The Parade as are the storage units for each apartment, (accessed from the rear off of Bath Road.)

*Notice has been served to increase the rental to £12,329 PA in addition to a service charge of around £11,000. The service charge reflects actual expenditure incurred in the gym/ lockers area.

Tenant Rent (Per annum) Front office Vacant – RV £7,500
Rear offices Finch Insurance Brokers £11,000
Board room Vacant (Estimated RV £2500)
Lockers and Gym St Vincent £12,329*

Terms
Our client is asking for £275,000 for this property, on a long leasehold basis, 999 years from 2007 to include the current licences to occupy in place.

Business Rates
The VOA shows each unit is individually rated for business rates. Enquiries can be made at: ww.tax.service.gov.uk/business-rates-find/search.

Viewings
All viewings to be arranged via the selling agents. Due to the nature of the tenancies in place at least 48 hours’ notice will need to be given for viewings.

Important Notice
1. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Spence Willard in the particulars or by word of mouth or in writing ("information") as being factually accurate about the property, its condition or its value. Neither Spence Willard nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT: The VAT position relating to the property may change without notice.