A former hotel in Shanklin, which went under the hammer for £300,000, is among a number of lots that sold in the latest auction held by Clive Emson Auctioneers.
The Roseglen, located on Palmerston Road, was listed in last Thursday’s online May auction, which featured 145 lots from across southern England.
Currently operating as a house in multiple occupation (HMO), the 10-bedroom freehold property generates rental income of £28,640 per annum, with 2 rooms currently vacant. Planning permission has also been granted for the property to be converted into 8 apartments.
Elsewhere on the Isle of Wight, a landmark commercial building on Ventnor High Street was sold before auction. The former W. Hurst and Son hardware store had operated from the premises since 1963 before closing last Summer. The freehold building had been guided at £175,000+.
More than 2 acres of land at Lavenders Farm on Bagwich Lane, Godshill, sold for £14,000 – £4,000 above the lower end of the guide price.
A former allotment plot adjacent to Upton Road in Ryde fetched £39,000. The 0.09-acre site previously had planning permission for a dwelling, although that permission has now lapsed.
A 1-bedroom second-floor flat at Grange Court, Grange Road, Shanklin, sold after auction having been guided at £50,000-£55,000.
Clive Emson Auctioneers’ next online auction concludes on 17th June, with bidding opening 48 hours beforehand.
Among the Isle of Wight lots set to feature are more than 14 acres of woodland near Newport with planning permission for 13 glamping pods, land in Freshwater, development opportunities in Shanklin and Ventnor, and several flats and residential properties across the Island.
