A former Army drill hall on the Island has been sold for £248,000 at auction and was among 105 lots listed across southern England in the November auction by regional land and property auctioneers Clive Emson.
The building, standing on half an acre, is located at the rear of 53 St Johns Wood Road, Ryde and is held on a 999-year lease from 1871, the year trade unions were legalised and annual bank holidays were created by Parliament.
Rob Marchant, Clive Emson’s Island auctioneer, said:
“We aren’t privy to any plans the new owner may or may not have but hopefully new life will be breathed into the building.
“As previously mentioned, the existing building may be suitable for other uses, including residential conversion with potential for redevelopment of the remainder of the site, subject to planning consents.
“Alternatively, the purchasers may wish to consider redeveloping the whole site, again subject to planning permission.”
Dating back to 1905, when suffragettes held their first public protest in London in the fight for women’s votes, a former schoolhouse in Newport sold freehold for £95,000. Braunstone House in Lugley Street has consent for conversion into 2 residential apartments.
A 2-bedroom leasehold apartment of the 5th floor at Osborne Court, The Parade, Cowes, with stunning views of the Solent, sold for £167,000 in a bidding war – the final bid was £42,000 more than the guide price.
The Lodge, a leasehold ground floor studio flat in the same building, which is adjacent to Cowes Marina, also sold for more than the estimate; £98,000 was paid, which was £13,000 above the lower end of the guide price.
Clive Emson’s next auction, the last of 8 this year across southern England, takes place on 15th December; entries for lots close on 22nd November and the catalogue is online from 26th November.
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