In a receivership sale, a 3-storey building at 12 St James Street in Newport sold for £320,000, which was £20,000 above guide. The end-terrace freehold property comprises four self-contained flats and a ground floor commercial unit.
Rob Marchant, the Island auctioneer for regional land and property auctioneers Clive Emson, said:
“Given the opportunity for rental income, we anticipated keen interest from buy-to-let investors, with the final bid coming in a £320,000.”
Rectangular-shaped land at the back of 13 Union Street, Newport, measuring 0.07 acres, went for £51,000 in a bidding war.
“This plot of freehold land, currently used for vehicle parking, revved the attention of bidders, with a final bid which was £39,000 more than the lower end of the guide price. There were 44 bids in total, such was the interest.”
The sale of a commercial unit at 159 High Street, Ryde, currently let at £13,075 per annum, has been postponed.
Meanwhile, long-vacant 52, 54 and 56 Fitzroy Street and 66 and 68 Station Avenue, Sandown, guided leasehold at £220-240,000, is re-available.
Clive Emson’s next auction is on Wednesday 28th July, with the catalogue available from Friday 9th July. Lot entries close on Monday 5th July.
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