Key features
- High quality hotel rooms in prominent, listed building, set in St Thomas Square in the centre of the Island's county town
- Building arranged over 3 floors, with the ground floor running to c. 110m² (1,194ft²), with the 2 upper floors running to approx. 144m² (1,548ft²)
- Well-finished restaurant and professional kitchen for circa 40 covers plus the potential for outside seating
- Assignment of current leases, with the current passing rent being £64,500 per annum in total, plus £POA for the businesses, fixtures & fittings
Location
Charter House is located in St Thomas Square, adjacent to St Thomas Church and supported by many eateries and specialist retail units. Newport is the Island's undoubted commercial centre with an immediate population of around 25,000 and an adjusted catchment of circa 60,000 when Newport operates as the comparison shopping centre for the entire Island population of around 130,000. Continued investment in the town from Boots, Clinton Cards, The Card Factory, Costa Coffee, The Works, Bet Fred and J D Wetherspoon ensures its importance as a retail and leisure centre.
Description
The restaurant/bar area runs to circa 81.8m² (880 ft²) with the total ground floor area running to approximately 110 m² (1,194 ft²). The property is fitted throughout to a very high standard and includes Graphic eye light control panels, wiring for internal stereo system, walk-in cold room (kitchen), dedicated beer cellar (g/floor), dedicated boiler (g/floor), air-con/heating unit, cat 5 wiring throughout, intruder alarm (reception & restaurant), broadband (g/floor), sensor flush urinals gents WC (basement), PIR sensor light fittings to WCs. There is an existing permit for outdoor furniture. Please see floor plan for further detail of layout.
Terms
Businesses, fixtures and fittings offered for sale, £POA, along with the assignment of the two leases held on the property. We understand that the rent for the Ground Floor is currently £27,000 per annum, with the Upper Floors being £37,500 per annum. Therefore, a total rental cost for the property is £64,500 per annum
Viewing
Strictly by appointment with sole agents Gully Howard Commercial Property, Suite 11 Salisbury Gardens, Dudley Road, Ventnor PO38 1EJ. Call Gavin Chambers or Dot Lucy on 01983 301 434. E: gchambers@gullyhoward.com or dlucy@gullyhoward.com
Uniform Business Rate
Rateable Value: £18,500 – Restaurant £6,100 – Guest House 2024/2025: 54.6p without small business relief. Interested parties should make their own enquiries of the Isle of Wight Council to confirm any rate liability or rate concession that may be applicable by telephoning Business Rates on 01983 821000.
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