Various residential and commercial properties on the Island have gone under the auctioneer’s hammer this month, including several in bidding wars.
They were among 170 lots listed across southern England by Clive Emson Auctioneers, regional land and property auctioneers.
A freehold 3-story office building at 98 High Street, Newport, sold for £127,000, which was £47,000 above guide price, with 52 bids (lot 67).
With a freehold guide price of £10,000+, a parcel of land at the back of Chocolate Island in High Street, Godshill, Ventnor, went for £18,000 off 12 bids (lot 75).
With significant structural damage, a freehold detached house called The Retreat, Undercliff Drive, St Lawrence, Ventnor, sold for £151,000 in a bidding war; 57 bids were made. The 3-bedroom property went for £101,000 above guide price (lot 117).
Let at £7,200 per annum is top-floor flat 9 at Georgina House, 23 Castle Street, Ryde, which has sea views, fetched £65,000+ (lot 26). The property is on a 125-year lease from 1987 with a current ground rental of £50 a year.
A detached freehold bungalow at 3 Footways, Wootton Bridge, Ryde, with 3 bedrooms, went for £230,000 (lot 141).
On the 31st bid, a 3-storey house at 39 Clarence Road, East Cowes, was purchased for £127,000, which was £27,000 above guide. Let at £8,700 per annum; the semi-detached property, with 3 bedrooms, is on the remainder of a 700-year lease from 1860 (lot 108).
Let at £9,000 per annum, a 2-bedroom end-terrace house at 38 Alfred Street, East Cowes, sold freehold for £116,000, which was £16,000 above guide price (lot 38).
Guided at £135,000+, a 2-storey, 3-bedroom flat for improvement and with sea views, sold prior to auction. Flat 5 and Flat 7, Wydford House, 23 Bellevue Road, Ryde, which was once a Victorian gentleman’s residence, are on a 125-year lease from 1987 at a current ground rental of £70 per annum (lot 47).
Described as needing improvement, a 2-bedroom end-terrace house at 17 Station Street, Ryde, was guided freehold at £55,000 – £60,000 (lot 110) and sold beforehand.
With a guide price of £180,000 – £200,000, a freehold mixed commercial and residential investment, let at £18,350 per annum, is at 12 & 12A Avenue Road, Sandown (lot 88). The property sold prior to auction.
A 2-bedroom, semi-detached cottage with sea views, at 111 Leeson Road, Ventnor, which had a guide price of £140,000 – £160,000 (lot 147), sold prior to auction.
Let at £8,100 per annum is a freehold residential investment – 2 Lyndhurst Cottages, Main Road, Porchfield, Newport, had a guide price of £80,000+ (lot 62). The property, occupied by a ‘lifetime’ tenant, sold before the auction.
The next online auction by Clive Emson Auctioneers concludes on 18th September, with bidding live from 48 hours beforehand. Entries close on 26th August, with the catalogue online from 29th August.
Various lots are re-available, including a plot of freehold land with planning permission for 7 detached bungalows. On 0.86 acres, plots 18, 19, 20, 21, 24, 25 and 26 are at Summers Court, Freshwater (lot 33). The guide price was £750,000 – £800,000.
Freehold, with vacant possession, a traditional farmhouse, with barns and outbuildings, on a 2.5-acre plot had a guide price of £595,000+. Downers Farm at Chale Street, Chale Green, Ventnor, requires improvement (lot 53).
A freehold building comprising 2 shops, a flat and with scope for further sub-division is at 19-21 School Green Road, Freshwater, and was guided at £245,000-plus (lot 61).
