BIDDING WAR FOR LAND IN RYDE IN LATEST PROPERTY AUCTION

Property and land on the Isle of Wight have been sold in Clive Emson’s latest auction of 119 lots across southern England.

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:

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“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.

Rob said:

“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.

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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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