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:
“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.”
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.
“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.
