7 diverse properties and 4 acres of land on the Island are to be auctioned at the beginning of November.
They are among 134 lots listed across southern England by Clive Emson Auctioneers.
With a guide price of £800,000-£850,000, The Curraghmore Hotel in Shanklin has planning permission for partial demotion, with the construction of eight two-bedroom apartments and the retention of a smaller boutique hotel.
Rob Marchant, Island auctioneer, said:
“Situated in an elevated location, with sea views over Sandown Bay, the Curraghmore has traded as a successful seaside hotel for many years.
“A significant extension to the side of the existing building was added, we believe, in the 1970s. Taking account of modern trends and holiday requirements, the Curraghmore is now offered with planning consent to demolish the side extension to retain a smaller boutique hotel in what was the original building on the site.
“The space to side of the hotel has planning consent for the construction of a block of eight, two-bedroom apartments with sea views and are considered ideal for re-sale into the local property market or, perhaps, retention for their income-producing potential either from traditional letting or holiday use.
“The existing hotel offers extensive accommodation to include 20 en-suite bedrooms. The new apartments will feature an open-plan living room/kitchen, two bedrooms, one with en-suite facilities and balconies.”
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Extending to 0.47 acres, the existing site has rear vehicular access to a substantial car park via Beatrice Avenue; a parking area will be retained for both the hotel and new apartment building.
Rob said the hotel has a majority freehold, with the strip coloured brown on the map, held under the terms of a 960-year lease from 1915 at a ground rent of £5 per annum.
Hose Rhodes Dickson are joint auctioneers.
A freehold 4-bedroom house for completion, at 5 Hurst Point View, Totland Bay, has a guide price of £450,000+.
Joe Rocks, auction appraiser, said:
“This freehold house, which requires completion, is situated just off the roundabout junction of Avenue Road, The Broadway and Colwell Road towards the western end of the Isle of Wight at Totland Bay.
“The house is a short drive from The Needles and Yarmouth, with all of its boating and other amenities, including the car ferry connection to Lymington, while Freshwater with all of its shopping and other amenities is also situated close by.
“The current owners are reluctant sellers due to a change of circumstances, having brought the existing build to a significant level of completion.
“The new owners will have the advantage of deciding on the final fit out prior to occupation, offering the opportunity to decide on all the finishing touches and final colour schemes.”
With off-road parking and a front garden area, there is an impressive entrance hall with stairs to the 1st floor.
The ground floor offers a living room with sliding patio doors to the garden, a shower room and kitchen/dining room with views out the front and rear of the property.
Upstairs the layout offers 4 bedrooms, 1 with an en-suite, and an additional family bathroom on the large landing. The understairs cupboard houses a ‘Cat 5’ internet hub feed to all rooms, as desired.
Joe added:
“Once completed the home will be ideal for owner occupation, or a weekend retreat or holiday home, particularly in view of the proximity of the mainland ferry connection.”
Joint auctioneers are Spence Willard.
A plot on fifth of an acre, with planning permission for a detached chalet bungalow, has a guide price of £180,000 – £200,000 and is on the north side of 211 Baring Road, Cowes.
Rob said:
“A formal Mortgage Valuation report, prepared in August 2023, indicates a site value of £235,000 and an estimated value of £700,000 for the newly completed bungalow.”
Joint auctioneers are BCM.
A double-width former shop unit at 69-71 Regent Street, Shanklin, currently let at £11,000 per annum to a tech company, is guided at £90,000-plus and is to be sold under the terms of a new 125-year lease which will commence upon completion of the sale. Two former retail units in the property were knocked through into a single open-plan office environment, with a workshop/office, staff kitchen and cloakroom with toilet.
A mixed residential and commercial property at 71, 72 and 72A High Street, Ryde, has a guide price of £175,000-plus; two retail units on the ground floor are let at £9,300 per annum whilst a large 2-bedroom apartment on the 1st floor is vacant.
Rob said:
“Situated in a landmark location on the busy crossroads servicing Ryde High Street and St Johns Hill, this attractive building has undergone a programme of upgrading and refurbishment in recent years. Regarding tenure, it is held under the terms of a 900-year ground lease from 1860 at a nominal ground rent which we are advised has not been collected for many years.”
Joint auctioneers are Scotcher & Co.
A 2-bedroom, lower ground floor flat, with parking and a private garden, has a guide price of £120,000 – £130,000 and is at Flat 1, 46 Queens Road, Ryde.
Rob said each flat in the three-storey, semi-detached building owns a one-third share in the freehold title. The flat is held under the terms of a 125-year lease from 1985 at an initial ground rent of £20 per annum, rising incrementally to £60 per annum through the term.
Currently let to a charity at £5,050 per annum, a retail unit in the heart of Ryde town centre’s pedestrianised area, at 38/38A High Street, has a guide price of £85,000 – £95,000 and is held under the terms of a 999-year lease from 1853.
Joint auctioneers are Scotcher & Co.
With a freehold guide price of £470,000 – £500,000, trustees have instructed the sale of 4 acres, with barns for conversion and construction of a substantial new dwelling, at Whitelane Farm, Bowcombe Road, Newport.
Rob said:
“Situated on a plot extending to 4.32 acres, this freehold site is located in the hamlet of Bowcombe, a short distance from Carisbrooke Castle on the outskirts of Newport.
“The site has the advantage of an attractive planning consent which will allow for two splendid residential dwellings, one of which will be a conversion project of the existing stone barn.
“The second dwelling will be a brand-new farmhouse-style home with four-bedroom accommodation. Both of the new properties will enjoy the benefit of this splendid location with the purchaser able to decide on the future split of the substantial remaining land holding.
“There is additional potential on the site for a third dwelling which may perhaps be allowable under permitted development opportunities in the shape of a substantial Dutch barn measuring approximately 227 sqm (2451 sq ft) with agricultural use history.
“Some may prefer to complete only one of the proposed new dwellings and utilise the whole site for a splendid single dwelling. Both options are of course subject to any required consents being obtainable.”
Joint auctioneers are BCM.
The auction by Clive Emson Auctioneers ends on 1st November, with live bidding starting 48 hours before.
