A plot of land and a mixed residential and commercial building on the Island are poised to go under the virtual hammer in Clive Emson’s spring auction.
An access track and 2 parcels of land near Newport and an investment property in the West Wight are among 64 lots being sold online on Wednesday 6th May.
Rob Marchant, the Island auctioneer for Clive Emson, said:
“With apologies to Williams Shakespeare for misquoting him, this is our ‘darling e-bids of May’ auction, with two local lots.
“Executors have instructed us to sell an access track and two parcels of land at Birchmore Lane, Blackwater, Newport, and the guide price is £12-14,000.
“Representing a mixed investment and development opportunity, and on the instructions of receivers, Egan House at Madeira Road, Totland Bay, is on the market with a freehold guide price is £450,000-plus.
“Egan House was previously a pub, with hotel accommodation. It is currently let at £33,080 per annum, with a potential income of £48,000 per annum if fully let.
“The property received planning consent for conversion, with five flats now there. In addition one of the commercial units is let and trading as the village Post Office; an adjoining commercial unit requires completion, with scope for residential use, subject to planning permission.”
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James Emson, Managing Director, said:
“This is Clive Emson’s largest online auction since we were established 31 years ago and the business has always pushed hard on technology and innovation. This approach is serving the market well.
“The national lockdown has meant that land and property investors, and agents, are doing even more research online – there is wealth of data and information which can be readily accessed so that bidders can make relatively informed decisions without a physical inspection”.
For more information visit https://www.cliveemson.co.uk/.
