A freehold block of 19 lock-up garages on the Island is to be auctioned next month, with a guide price of £120,000-£130,000. The garages, at the back of 31 Whitepit Lane, Newport and let at £9,120 per annum, are among 135 lots listed across southern England by Clive Emson Auctioneers. Rob Marchant, Island auctioneer, said:
“We anticipate keen interest as lock-up garages in residential areas are often sought after. “A short drive from Newport town centre, and approached via Mount Joy, off Whitepit Lane, the site measures 0.13 acres, with the garages are laid out in two rows with a large turning area between. “They are of brick construction with corrugated roofs and up-and-over doors and are considered ideal for use by an owner occupier or as an investment opportunity. “There are 19 garages in total, although two are sold on long leasehold interests to the adjoining flats. We are informed by the managing agents that garage 16 is currently vacant and it is believed that the remainder may be let.”
https://www.youtube.com/watch?v=DhMa5izrLuU&embeds_referring_euri=https%3A%2F%2Fwww.cliveemson.co.uk%2F&source_ve_path=Mjg2NjY&feature=emb_logo Meanwhile, in Ryde, Flat 4, 71 Monkton Street has a guide price of £55,000-£60,000 and is on the remainder of a 125-year lease from March 1987. Rob said:
“This one-bedroom self-contained flat is situated on the second floor of a detached building on Monckton Street which runs from close to the seafront to the north and Ryde St Johns Road railway station to the south, a short distance from Ryde town centre. “The flat requires a significant level of upgrading and refurbishment and is considered worthy of the improvements required beyond which it could be ideal for owner occupation or for addition to an income-producing letting portfolio.”
On a 0.17-acre plot, Chale Barn, Chale Street, Chale, Ventnor, has a freehold guide price of £85,000-£95,000. Rob said the substantial agricultural barn, with views over open countryside and the English Channel, may have “potential for conversion and/or site redevelopment, subject to all necessary consents being obtainable”. The auction ends on Wednesday 7th February, with bidding live 48 hours beforehand. Clive Emson Auctioneers, in its 35th year, have been instructed by vendors to sell a total of 135 lots, of which 71 are vacant residential, 16 investment, 30 commercial, 11 development and seven grazing/land.
Those garages should be owned by the council and ‘let’ to local dwellers for a reasonable rate…
The council have enough subsided white elephants, don’t you think, or are you looking for personal gain perchance /.
if are greedy Council owned these garages they would cost so much to rent only people with deep pockets would be able to afford them all this council want is more money for there pension pot sod the rest of us
Council rent garages at a rate of 31£ a month private rent is around 120£