Castle Street, Ryde
OIRO £245,000

Situated on the charming Castle Street in Ryde, we offer for sale three of the flats in this distinguished Victorian block presenting a remarkable residential investment opportunity. Comprising three one-bedroom flats, this elegant listed building offers not only character but, in this case, a lucrative income stream, with current tenants generating an impressive annual gross income of £21,940.

Situated just a stone's throw from the seafront, the location is ideal for those who appreciate coastal living. The nearby beaches and excellent transport links enhance the appeal, making it easy for residents to explore the beautiful surroundings. Additionally, local amenities such as doctors, chemists, and shops are conveniently close, ensuring that everyday needs are easily met.

The flats benefit from long leases, extending 999 years from 1975, and the residents collectively own the freehold, providing a sense of community and stability. Parking is available for one of the flats and further parking is available within this residents parking zone.

This investment opportunity not only promises immediate income but also the potential for long-term growth in a desirable location. Whether you are an experienced investor or looking to enter the property market, this collective of three flats on Castle Street is a compelling choice that combines convenience, and profitability.

Flat 1
Current rent £665 pcm. A generous lower ground floor flat which is generally well presented.

Private Entrance

Kitchen (3.71m x 2.01m (12'2 x 6'7))

Lounge/Diner (5.38m x 5.36m (17'8 x 17'7))

Rear Lobby

Bedroom (4.09m x 3.38m (13'5 x 11'1))

Shower Room (2.87m x 1.19m (9'5 x 3'11))

Parking
Space provided within communal car park at front of building

Private Courtyard
A very small enclosed courtyard sits off the kitchen. Space for a bicycle or perhaps a small table and chairs.

Flat 1a
Current rent £665 pcm. A spacious lower ground floor flat.

Private Entrance

Entrance Hall (2.16m x 1.93m (7'1 x 6'4))

Bathroom (2.34m x 1.45m (7'8 x 4'9))

Inner Hall (3.10m x 1.96m (10'2 x 6'5))

Built in Cupboard
Housing consumer unit

Built in Airing Cupboard

Lounge/Diner (4.70m x 3.05m (15'5 x 10'0))

Kitchen (2.79m x 1.78m (9'2 x 5'10))

Bedroom (3.53m x 2.97m (11'7 x 9'9))

Flat 2a
Current rent £460 every 4 weeks. This flat is in need to refurbishing. The tenant has been in situ for many years.

Communal Entrance

Ground Floor Entrance Hall

Entrance Hall

Built in Storage

Lounge/Diner (3.15m z 3.05m (10'4 z 10'0))

Kitchen (2.34m x 1.98m (7'8 x 6'6))

Bathroom (1.50m x 1.45m (4'11 x 4'9))

Stairs to:

Mezzanine Level

Bedroom (3.86m x 2.34m (12'8 x 7'8))

Communal Facilities
Secure entry system in main entrance. Lawned areas to the front and the rear. Communal car park. Dustbin storage area.

Tenure
Long leasehold 999 years from 1975. Residents own Freehold collectively. Maintenance charge includes window cleaning, buildings insurance, communal grounds & electricity, general maintenance. Costs for the 3 flats for 2025 was around £2500.

Restrictions
Residential letting permitted. No holiday letting. Pets are permitted.

Council Tax
All 3 Flats are Band A

Energy Performance Certificates
All flats are E

Flood Risk
Very Low Risk from Surface Water, Rivers and Sea.

Broadband Connectivity
Up to Ultrafast Fibre available

Mobile Coverage
Coverage includes EE, O2, Three & Vodafone

Construction Type
Rendered elevations. Slate roof. Solid or cavity walls.

Services
Unconfirmed electric, water and drainage

Agents Note
Our particulars are designed to give a fair description of the property, but if there is any point of special importance to you we will be pleased to check the information for you. None of the appliances or services have been tested, should you require to have tests carried out, we will be happy to arrange this for you. Nothing in these particulars is intended to indicate that any carpets or curtains, furnishings or fittings, electrical goods (whether wired in or not), gas fires or light fitments, or any other fixtures not expressly included, are part of the property offered for sale.