Three new retail units shall be available in the reconfigured station building:

• RU01 – café with entrance from main road and internal with glazed frontage 69.5m2
• RU02 at ground floor with retail window display to internal forecourt 69.9m2
• RU03 – retail premises 18.9m2

RU01 – café with entrance from main road and internal with glazed frontage
Electricity – 63A Three phase supply, fed from station supply but sub metered.
Water – has own metered water supply, 25mm PDPE incoming pipe, flow and pressure unknown

RU02 at ground floor with retail window display to internal forecourt
Electricity – Has its own electricity authority metered supply, meter located within cupboard adjacent redundant travel centre. The supply is believed to be a 63A Single Phase supply.

RU03 – retail premises – (the former Southern Vectis travel centre)

Electricity – Has its own electricity authority metered supply, meter located within cupboard adjacent redundant travel centre. The supply is believed to be a 63A Three Phase supply.
Remote storage will not be available. WC facilities are located within the main station building.

Subject to the consent of Network Rail Infrastructure Limited the premises are being offered by way of a new 6 year lease, subject to a rent review at the end of the third year. The lease will be excluded from the security of tenure provisions of the Landlord & Tenant Act 1954. Standard railway lease terms will apply. The lease will not permit assignment or sub-letting.
The incoming tenant will be expected to pay the landlord and if a longer lease is required, the superior landlords costs associated with the grant of this lease.

Rent to be agreed depending on use based on a Minimum Guaranteed Rent (MGR) together with suppporting turnover rent provision.
Upward only Open Market Rent Review on every third anniversary of the term start date.
As a guide to interested parties, the landlord is anticipating Minimum Guaranteed Rents in the region of:

RU01 - £15,000.00 per annum plus vat
RU02 - £10,000.00 per annum plus vat
RU03 - £6,000.00 per annum plus vat
Turnover rent is calculated as:
(Sales net of vat x Agreed turnover percentage/s) –
MGR.
Turnover rent shall be subject to an annual reconciliation and the turnover percentage shall be dependent on the products being sold.

We are seeking exceptionally high quality retailers who will showcase the finest goods that the island has
to offer or to provide services and facilities to residents and visitors.
For retail mix purposes we are seeking retailers that sell a different range of products to the other vendors that will trade at the station.

RU01 – Catering offer
RU02 – Retail
RU03 – Retail/Office/ leisure

There is currently no service charge for the premises but the landlord reserves the right to introduce any service charge in the future.

The tenant will be responsible for all utilities, business rates and insurance. Business rates is currently £410
per annum plus vat. 

The payment of business rates will be the responsibility of the tenant.
RU01 – A search of the Valuation Office Agency websites indicates that the premises are yet to be assessed.
RU02 – It is unclear from the Valuation Office Agency website whether their reference Sessions News, Esplanade, Ryde, Isle Of Wight, PO33 2HE relates to this premises. For those wishing to enquire:
Local Authority reference is 26321500010002.
The Rateable Value from 1st April 2023 is listed as £2,600.00.
Please see below for information on the provisional multipliers.
RU03 – The Valuation Office Agency indicates that the premises are currently known as:
Southern Vectis Ltd Visitor Information Kiosk At Bus Terminus, Esplanade, Ryde, Isle Of Wight, PO33 2HE
Local Authority reference is 26321500010370.
The Rateable Value from 1st April 2023 is listed as £2,150.00
The provisional multipliers for the 2023-24 financial year are: 49.9 pence for the Small Business Rate Multiplier and 51.2 pence for larger occupiers.
*An incoming tenant is recommended to check whether they may benefit from Small Business Rates Relief.

To be assessed following the station reconfiguration.

For further details relating to this opportunity please contact us:

Ian Chalmers – Account Manager
Email: ian.chalmers@amey.co.uk
Tel: 020 7921 2935

Eva Puchowska – Portfolio Manager
Email: eva.puchowska@amey.co.uk
Tel: 07395 883 599