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High Street, Cowes
Annual Rental Of £10,000

Let STC
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  • Available Now
  • Commercial Let
  • Flexible Terms
  • Great Location

Rare opportunity to lease a High St shop right in the heart of Old Town Cowes with large window frontage.

HOLDING DEPOSIT
A Holding Deposit will be payable equal to (but not exceeding) one week´s apportionment of the agreed sum of rent payable for the property applied for.

Example: Rent of £750 x 12 months = £9,000 pa / 52 weeks x 1 weeks = £173.07 Rounded down to £150.00

 

TENANCY DEPOSIT
The sum of a ´cash´ tenancy deposit payable shall be no more than a sum equal to 5 weeks´ rent, including any 'pet rent' (rounded down to the nearest £5 or £10). 
Example: Rent of £750 x 12 months = £9,000 pa / 52 weeks x 5 weeks = £865.38 Rounded down to £865.00


PERMITTED FEES - charged in accordance with the Tenant Fees Act 2019

Default fee for unpaid rent:  Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.

Default fee for the agent replacing keys or other security devices lost by the tenant:
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).  Alternatively the tenant may arrange and pay for their own locksmith services and must provide a copy of any new keys or security devices to the agent within 24 hours.

Variation of the tenancy agreement following tenant's request:  £120 (inc. VAT) to cover the costs associated with the agent’s time in taking landlord´s instructions, any legal advice, as well as the preparation and execution of new legal documents.

Tenant's request for the early termination of the tenancy agreement:
Should the tenant wish to leave their contract early, they shall be liable to the landlord´s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.  In a typical situation the fee would be £540 (inc. VAT) to cover re-letting (paid prior to remarketing) and be liable for the rent up until the new tenant takes responsibility for the property.


CLIENT MONEY PROTECTION (CMP)
It is a legal requirement for a letting agent to hold CMP. It protects landlords and tenants from any misappropriation of their money. 

THE PROPERTY OMBUDSMAN SCHEME (TPOS)
Lancasters Estate Agents are members of TPOS.  In the event of dispute between agent and client that cannot be resolved without third party intervention clients may refer a complaint to TPOS redress scheme.

 

Lancasters Estate Agents is a trading name of Lightwater Property Ltd registered in England No.06986499.  VAT No.978596533

 


Description

Shop unit runs to a total of 77.8m2 (835 ft/2) including staff facilities/storage and WC. Zone A = 36.6m2 Zone B = 29.6m2 Zone C = 11.6m2 Information above is approximate and provided from the government's gov.uk website. Interested parties are advised to undertake their own due diligence in all regards.

Location

Shop unit located in Prime position within Cowes High Street, close to other vibrantly trading shops and the seafront Parade.

Main Shop Area

39' 8'' x 18' 6'' (12.1m x 5.64m) Max.

Large open plan retail area with wide glazed entrance door and sizeable window frontage.

Staff / Store Room

12' 0'' x 11' 5'' (3.65m x 3.47m)

Secure staff / storage area with stainless steel sink unit.

Store & WC

WC and hand basin.

Terms

Flexible. Available on a 10+ year lease with break clauses for the right tenant.

Business Rates

We understand from the gov.uk website that this property has a Rateable Value of £13,500, chargeable at £0.49, giving an estimated Business Rates charge of £6,615. Small Business Rates Relief maybe available, subject to a tenant's position. All enquiries in this regard to the IW Council direct.


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High Street
Cowes PO31 7RL
County: Isle Of Wight
Sale Type: Let STC
Ref #: LEA2915

P: 01983 209020
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