A landmark Ryde pub, a former town centre bar and an office building in Newport are among 5 commercial properties across the Isle of Wight heading to auction next month, with guide prices starting at £50,000.
The properties are among 173 lots across southern England listed in the latest online auction by Clive Emson Auctioneers, which concludes on 5th November, with bidding opening 48 hours beforehand.
Among the highest-priced Isle of Wight lots is a 2-storey office building at 42 Quay Street, Newport, which has a freehold guide price of £170,000-£190,000.
The building, Lot 69, was originally constructed as a chapel but has more recently been used as offices. Extending to more than 3,500 sq ft (325 sq m), it benefits from off-road parking for several vehicles and is being offered with vacant possession.
Rob Marchant, Island auctioneer and director at Clive Emson, has said:
“Located in the heart of the centre of Newport, with the rare benefit of off-road parking for several cars, this two-storey building was originally constructed as a chapel but has more recently been used as offices.
“The property, which extends to over 3,500 sq ft (325 sq m), has vacant possession. It is considered that the property may suit continued use as offices, perhaps as a multi-let business centre.
“Alternatively there is the option to explore the option to convert to provide residential accommodation, subject to all necessary consents being obtainable.”
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Meanwhile, The Railway pub at 68 St Johns Road, Ryde, is returning to auction with a reduced guide price of £170,000-£190,000.
The landmark pub, Lot 42, sits at the junction of St Johns Road and Monkton Street and continues to trade as an established hostelry. It includes a 2-bedroom owner/manager’s flat above, a good-sized pub garden and a smaller private garden attached to the flat.
The latest guide price represents a reduction of up to £25,000 at the lower end compared with its previous listing in September, when it was marketed at £195,000+.
Another Ryde property returning to the auction catalogue is the former bar at 73 and 74 Union Street, which has a guide price of £135,000-£145,000.
The 4-storey building, Lot 78, was last used as a high street bar and includes a substantial cellar, a former commercial kitchen and other facilities on the first floor. The upper floors have previously provided owner/manager accommodation, including bedrooms, a kitchen and bathroom facilities.
In Sandown, a vacant 2-storey commercial unit at 1 College Farm Industrial Estate, College Close, is being offered with a freehold guide price of £115,000-£125,000.
The property, Lot 76, was previously used as a trade counter and provides approximately 2,648 sq ft (246 sq m) of accommodation across 2 floors, together with a gated yard.
Auctioneers consider the building suitable for a variety of future commercial uses, subject to the necessary consents. Scotcher & Co are acting as joint auctioneers.
At the lower end of the price range is The Estate Office on Avenue Road in Freshwater, which has a guide price of £50,000+.
The ground-floor commercial property, Lot 39, has previously been used as an estate agency office and, more recently, as a fruit and vegetable retailer.
Situated in the centre of Freshwater, the freehold property could appeal to an independent retailer or commercial investor.
The flat above has already been sold on a long lease and is not included as vacant residential accommodation.
Rob Marchant has said:
“Previously used as an estate agency office and more recently as a fruit and vegetable retailer, this ground floor commercial unit offers scope and potential for use, perhaps, by a niche owner-occupier retailer or for addition to an income-producing commercial portfolio.”
Bidding for the November auction goes live on Tuesday 3rd November and concludes 48 hours later at https://www.cliveemson.co.uk/.
