8 lots across the Island are among 111 listed in the next Clive Emson auction on 28th July, including what is said to be the oldest building on the Isle of Wight.
With a guide price of £550,000+, Rectory Mansion is going to auction. The historic property comprises of 14 commercial units including a restaurant, as well as a 3-bedroom flat at 46-48 High Street, Brading.
Rob Marchant, Clive Emson’s Island auctioneer, said:
“This attractive landmark building is currently let at £67,346.40 per annum, including the obligatory service charge, and we anticipate keen interest from investment buyers. Rectory Maison is held almost entirely on a single freehold title.”
Brading’s main car park, held on a leasehold basis and with 87 car parking spaces and 3 coach bays, is also going to auction. The 0.66-acre site, currently leased by the owners of Rectory Mansion, is currently producing income of £32,493 per annum. It is guided at £50,000+.
Also in the auction…
Previously let at £36,000 per annum, 104 and 105 St James Square, Newport, is guided freehold at £200,000+. It comprises a ground floor retail outlet, located between Barclays Bank and The Entertainer, with the upper floor split into 2 units with conversion potential.
A freehold investment at 159 High Street, Ryde, is currently let at £13,150 per annum and has a guide price of £130,000-£140,000. There is a retail shop on the ground floor, on a commercial lease of £13,000 per annum. 2 flats above were sold on 125-year leases, with a ground rent of £75 per flat payable per annum.
6 lock-up garages at the junction of Quarry Road and Alfred Street, Ryde are guided freehold at £50,000+; 4 of the garages are currently let at £2,562 per annum, with 2 vacant.
A ‘speculative’ site of 0.01 acres, with a derelict storage facility, has a freehold estimate of £15,000+ and is located at 69B Pelham Road, Cowes.
Wayfarer, a 1-bedroom cottage on East Hill Road, Ryde, is guided freehold at £130,000-£150,000. Rob said:
“This is an attractive and well-presented cottage which is considered ideal for addition to an income-producing letting portfolio, perhaps for owner occupation or as a weekend retreat or holiday home, particular with the proximity to the Hovercraft terminal on Ryde seafront.”
A 2-bedroom cottage, with stunning sea views across the English Channel from both bedrooms and the rear garden, is situated at 26 Ocean View Road, Ventnor, and has a 999-year lease from 1902. Guide price: £115,000-£125,000.
