An extensive portfolio of 84 properties across the Isle of Wight, known as The Needles Portfolio, has been brought to market with a guide price of £14.75million.
The multi-site investment includes 76 residential and 8 commercial units, all currently tenanted, offering a gross annual rental income of almost £1million.
The properties span key locations such as Ryde, Cowes and Ventnor, with residential properties situated on roads including Swanmore Road in Ryde and Mill Hill Road in Cowes. A number of commercial premises are also part of the sale, including property on Union Street and Cross Street in Ryde and Albert Street in Ventnor.
The entire portfolio is being offered as a single transaction, with an initial yield of 6.25% and a market valuation of £18.36million, if sold with vacant possession.
According to the sales information, all properties are fully let, offering buyers immediate income and long-term security.
The portfolio is being marketed by TC Group, with enquiries directed to Tom Dymond and Danny Trott via https://tcgroup.search-prop.com/properties/292385-the-needles-portfolio-isle-of-wight.
Thanks for this information, I fear it doesn’t apply to any readers of the echo.
It might if we knew who the current owner was, and why he was suddenly selling the lot.
From what I am seeing thesedays, the majority
of the island is being held up by scaffolding.
Lol