8 properties and plots of land on the Isle of Wight are set to go under the virtual auctioneer’s hammer this month.
They are among 137 lots being sold online by Clive Emson, the regional land and property auctioneers, across southern England.
There is a ‘rare opportunity’ to acquire an uninterrupted freehold block in the town centre of Newport, comprising 5 shops and 8 flats, with all but 2 of the shops, at present, let. The properties at 91-94 Pyle Street, 1 Carisbrooke Road and 1, 2 and 3 Wadham Place, New Street, are guided at £500,000-plus and are currently let at £48,795 per annum.
The flats are arranged as 3x 1-bedroom units and a bedsit, all let on Assured Shorthold Tenancy agreements. The remaining 4 flats have each been sold on a long leasehold basis.
Rob Marchant, Clive Emson’s Island auctioneer, said:
“The three shops, which are at present occupied, are let on commercial leases, with the fourth and fifth shops at present available for rent at £8,750 per annum which, if achieved, would give an overall rental income for the block of £66,295 per annum.”
Guided freehold at £125-135,000, a mid-terrace cottage at 21 Castle Road, Newport, with 3 bedrooms, offers a blank canvas for the new owners to complete a programme of upgrading and refurbishment that have been commenced but require completion.
At 54 Barton Road, Newport, a semi-detached house with 2 bedrooms is guided freehold at £80-90,000.
Currently let at £15,096 per annum, a 3-storey freehold building at 137 High Street, Newport, adjoining the historic Guildhall, is guided at £150,000-plus.
With sea views, a 3 bedroom flat at 25A Madeira Road, Ventnor, is guided at £120-130,000 and is on a 999-year lease from 1976 at a current ground rental of £5 per annum.
Half an acre of land off Wellington Road, opposite Lukely Gardens, Newport, is guided freehold at £14-16,000.
Guided freehold at £250,000-plus is a mixed investment at 10-11 High Street, Cowes, comprising retail space on the ground floor and 2x 2-bedroom flats on the first.
2 parcels of land between Frampton Way and Love Lane and Woodnut Close and Love Lane, Bembridge, are guided at £4-5,000.
Clive Emson’s digital auction closes on Wednesday 23rd September.
