4 properties on the Isle of Wight have gone under the auctioneer’s hammer at the latest Clive Emson auction.
They were among 132 lots listed by the regional land and property auctioneers in the firm’s latest auction in southern England.
A 2-bedroom leasehold flat at 4 Silvermere Court, Alma Road in Ventnor, went for £120,750 – which was £5,750 above estimate.
The corner building at 2 and 4 Pier Road and 4 High Street, Seaview, comprising 2 rented commercial units and 2 flats sold on long leases, fetched £104,000 against the guide price of £80,000 – an increase of £24,000. Currently let at £8,480 per annum, the purchase includes the head leasehold ground rents.
Guided at £125,000-135,000, the landmark former NatWest bank at 19 High Street, Shanklin sold prior to auction.
Rob Marchant, Clive Emson’s Island auctioneer, said:
“A good offer was made to the seller prior to the auction. The three vacant floors offer scope and potential for a wide range of future commercial uses, subject to all necessary consents being obtainable.
“Alternatively, it is considered that the first-floor accommodation offers scope and potential for residential conversion, again subject to all the necessary consents being obtainable.”
The lease is on the remainder of an 873-year lease, from 5th October 1874, at a peppercorn ground rent.
Another property sold beforehand – a 2-bedroom maisonette was guided leasehold at £150,000-160,000 and is at 5A Market Street, Ventnor.
Clive Emson’s third of 8 auctions this year ends on 5th May, with lot entries closing on 11th April and the catalogue online from 15th April.
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