Lot 42 - Beachlands, Esplanade, Ventnor, Isle Of Wight - Online Auction May 5th 2022 - Clive Emson Auctioneers

VIDEO: CASTLE COTTAGE TO SEAFRONT TOWN HOUSES – ISLAND PROPERTIES GO TO AUCTION

A terraced cottage close to Carisbrooke Castle is to go under the hammer with a guide price of £90,000+ in the latest Clive Emson auction.

The 1-bedroom freehold residence at 80 Carisbrooke High Street is among 110 land and property lots listed across southern England by Clive Emson Auctioneers.

Rob Marchant, the firm’s Island auctioneer, said:

Article continues below this advertisement

“The cottage is in need of some improvement and would be ideally suited for owner occupation or as an addition to an income-producing letting portfolio.”

On a 999-year from 2020 is a 1-bedroom apartment at 16 Osborne Court, The Parade in Cowes. Guide price: £110,000-120,000.

Rob said:

“Located on the second floor of Osborne Court, the residence has stunning views of The Solent. The flat, with a balcony, is in good order throughout and is considered ideal for owner occupation or as a let.”

Article continues below this advertisement

Lot 10 - 16, Osborne Court, The Parade, Cowes, Isle Of Wight - Online Auction 5th May 2022 - Clive Emson Auctioneers

Currently let at £25,400 per annum, a freehold mixed property investment at 102 High Street, Newport is guided at £250,000+.

Rob said:

“The ground floor commercial space is occupied by a well-known and Island-wide family-run bakery chain with six outlets.

Article continues below this advertisement

“Above, the flats are occupied under Assured Shorthold Tenancy agreements – the building is considered ideal for an income-producing portfolio.”

“At £250,000, based on the current rental income from the shop and flats, the gross rental yield is 10.16%, which is a good return compared to the 1% or so return on interest you’d get with cash savings. High inflation also means cash is losing money in real terms.”

A seafront development site, with planning consent for 4 town houses, is guided freehold at £650,000 to £700,000. Beachlands, Esplanade, Ventnor, which was once a grand family home and is now in a “poor state of repair”, has views across the beach and the English Channel beyond.

Clive Emson’s auction timers end on Thursday 5th May, with the online bidding live 2 days beforehand.

Don’t miss another story! Get the Island’s latest news delivered straight to your inbox. Sign up to our daily newsletter here.

The views/opinions expressed in these comments are solely those of the author and do not represent those of Island Echo. House rules on commenting must be followed at all times.
 

Join our daily newsletter

News, Traffic & Travel Tweets