A fire-damaged building in Sandown that has stood empty for years has been sold through auction.
The long-vacant, mixed-used premises at 52, 54 and 56 Fitzroy Street – and 66 and 68 Station Avenue – were acquired by an unnamed property investor.
It was offered with a guide price of £220,000-240,000 by regional land and property auctioneers Clive Emson.
Rob Marchant, Clive Emson’s Island auctioneer, said:
“There was bidding in the auction but the reserve price hadn’t quite been met.
“Following the auction one of the bidders, a property investor, made an offer to the owner which was accepted.
“We are not privy to any plans the new owner has for the building but local residents, along with the local authority, will no doubt welcome any investment in doing the place up, subject to planning consents of course.”
The property was last arranged as 4 shops and a commercial office on the ground floor, with additional storage and/or residential accommodation beyond.
There is the remainder of a 990-year (less 10 days) lease, from 11th November 1904, at a ground rental of £32.05 shillings per annum.
Fantastic news. Just as long as it’s not renovated and opened up as a HMO (house of multiple occupancy) for druggies and alcoholics. We don’t want anymore of these places in Sandown. They attract way too much anti social behaviour and trouble for the Police and Ambulance services