Ajito Acquires 860 sqft of Commercial Space on the Isle of Wight

It has taken a little time to get over the line, but finally Ajito can announce the acquisition of a new long term lease on a commercial space on the Isle of Wight.

The space is to refurbished and split into multiple units and sub-leased to local businesses.

A tenant has already been secured on the front unit for a minimum of five years with negotiations ongoing for the rear units.

The rear of the site also lends itself to potential future conversion into residential, presenting a significant value add opportunity.

Tanner H. Hicks, founder and CEO of Ajito Capital said "Our high streets are changing and sites like these require some creativity to maximise value to both the local community, and ourselves. The team here at Ajito have worked their magic to source such a wonderful asset that is not only going to deliver strong, secure returns to the business, but we will create an excited space for the local area."

He continued, "We are really excited to enrol this new asset into our growing and diversified real estate portfolio. We intend to invest some money into the asset up front, to bring it up to a higher standard, and then look to help some local businesses establish themselves in the local area."

He added, "It's been a bit of a drawn out affair getting this one over the line but we've actually really enjoyed the process towards acquiring this site. We have built some wonderful relationships with the previous owners, and with the freeholder, and really look forward to building upon those relationships going forward."