3 residential properties on the Island were at the centre of bidding wars in the latest online auction by Clive Emson Auctioneers.
They were among 170 lots listed in England in the auction ending last Thursday.
There was a bidding war for Flat 6, Bay Court, Wheelers Bay Road in Ventnor, which has 2 bedrooms, a balcony, a ‘splendid sea view’ and a balcony.
On the remainder of a 999-year lease from December 1979, at a current rental of £5 per annum, the flat had vacant possession.
The flat attracted 41 bids, with the final one coming in at £180,000, which was £30,000 above guide price.
Chalked for upgrading and refurbishment, a semi-detached house with 3 bedrooms at 21 Victoria Crescent, Ryde, also sold in a bidding war for £162,000, which was £37,000 above guide price following 18 bids.
The vacant property is held under the terms of a 1,000-year lease expiring in December 2896 at a ground rent of £1.50 per annum.
In need of improvement, a freehold, terraced house at 38 Tennyson Road, Cowes, went for £105,000 in a bidding war following 23 bids, which was £25,000 above guide price.
With vacant possession, the former SNU Spiritualist Church at 8 Victoria Street, Ventnor, sold freehold for £135,000+.
Freehold and vacant, a 2-bedroom detached cottage, with ‘some structural movement’, at 18 Leeson Road, Ventnor, fetched £75,000.
With ‘stunning sea views’, a semi-detached house with 2 bedrooms at 38 Ocean View Road, Ventnor, went for £79,000. Freehold, with vacant possession.
Let at £10,080 per annum, a freehold terraced house at 94 Pelham Road, Cowes, sold beforehand. Guided at £110,000+.
Vacant Flat 1 at Dolphin House, 5 Castle Street, Ryde, with a split-level 1-bedroom flat, fetched £70,000. The flat was sold with a share of the freehold, which is owned by the flat owners, at present held under the terms of a 125-year lease from March 1991.
Let at £10,800 per annum, a freehold house with 3 bedrooms at 99 Horsebridge Hill, Newport, sold for £150,000.
Postponed, the sale of ground-floor Flat 1, 42 George Street, Ryde, which was guided at £40,000+ and is on the remainder of a 999-year lease from December 1846.
Corner Cottage at 55A Regent Street, Shanklin, went for £44,000. The 1-bedroom, first floor apartment is on the remainder of a 1,000-year lease (less 12 days) from 1st December 1871 at a current ground rental of ‘£4 and 10 Shillings’ per annum.
Clive Emson Auctioneers’ next online auction – the sixth of 8 this year – concludes from 11:00 on 24th September. Bidding is live from 48 hours beforehand.
Lot entries close on 1st September, with the catalogue online from 4th September.
Yet more proof there is no shortage of persons with money
out there.