Properties and plots of land on the Island have gone under the virtual auctioneer’s hammer.
They were among 137 lots being sold online by Clive Emson, the regional land and property auctioneers, across southern England.
An uninterrupted freehold block in the town centre of Newport, comprising 5 shops and 8 flats, fetched £500,000.
The properties at 91-94 Pyle Street, 1 Carisbrooke Road and 1, 2 and 3 Wadham Place in New Street, are currently let at £48,795 per annum.
Rob Marchant, Clive Emson’s Island auctioneer, said:
“There was keen interest, with a successful bid of £500,000.
“The three shops, which are at present occupied, are let on commercial leases, with the fourth and fifth shops at present available for rent at £8,750 per annum which, if achieved, would give an overall rental income for the block of £66,295 per annum.”
A mixed investment at 10-11 High Street, Cowes, comprising retail space on the ground floor and 2x 2-bedroom flats on the first and second floors above, went for £283,000, which was £33,000 above estimate.
With sea views, a 3-bedroom flat at 25A Madeira Road, Ventnor which was guided at £120-130,000 and is on a 999-year lease from 1976, sold prior to auction.
Half an acre of land off Wellington Road, opposite Lukely Gardens, Newport, went for £14,000 and a 0.36-acre parcel of land adjacent to Love Lane, Bembridge, fetched £13,500 – more than double the guide price.
Clive Emson’s next digital auction ends on Wednesday 4th November.
