A mixed residential and commercial property on the Island has sold at auction for £175,000.
The building at 71, 72 and 72A High Street, Ryde, was among 137 lots listed across southern England by Clive Emson Auctioneers. Rob Marchant, Island auctioneer, said:
“The premises has 2 retail units let at £9,300 per annum and a large, vacant two-bedroom apartment on the first floor.” “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.”
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A range of other properties and land sites on the Island were listed in the auction which ended on the 1st November. They included the The Curraghmore Hotel in Shanklin, which has a majority freehold and had a guide price of £800,000 – £850,000. Also featured was freehold 4-bedroom house for completion, at 5 Hurst Point View, Totland Bay, which had a guide price of £450,000-plus, and a double-width former shop unit at 69-71 Regent Street, Shanklin, currently let at £11,000 per annum to a tech company, which was guided at £90,000-plus.
A plot on 5th of an acre, with planning permission for a detached chalet bungalow, had a guide price of £180,000 – £200,000 and is on the north side of 211 Baring Road, Cowes. A 2-bedroom, lower ground floor flat, with parking and a private garden, which had a guide price of £120,000 – £130,000, is at Flat 1, 46 Queens Road, Ryde. 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, had a guide price of £85,000 – £95,000 and is held under the terms of a 999-year lease from 1853. With a freehold guide price of £470,000 – £500,000, trustees instructed the sale of 4 acres, with barns for conversion and construction of a new dwelling, at Whitelane Farm, Bowcombe Road, Newport. 
Rob said:
“It may well be that buyers for come forward over the next few weeks.”
The next auction by Clive Emson Auctioneers, the last of Wight this year across southern England, takes place on 13th December, with live bidding starting 48 hours before. Entries for lots close on 20th November.
