A bumper selection of 21 lots on the Isle of Wight will feature in the latest regional land and property auction by Clive Emson Auctioneers.
Hot on the heels of various Island properties going under the hammer in the May auction, which had 168 lots listed and raised more than £22million for sellers, Clive Emson has been instructed to sell 21 lots on the Isle of Wight in the forthcoming auction.
Bidding starts on Tuesday 10th June, ending Thursday 12th June.
Among the highlights on the Island is a freehold clifftop hotel with 20 en-suite guest rooms and sea views. The Harrow Lodge Hotel at 31 Palmerston Road, Shanklin, has a guide price of £450,000 – £500,000.
Let at £35,000 per annum, a freehold town centre building at 70-74 Regent Street, Shanklin, is guided at £350,000+. The lot also includes the freehold interest in a residential flat, which has been sold off under the terms of a long leasehold agreement.
A 2-bedroom flat on the ground floor at 7 Palmerston Road, Shanklin, has a guide price of £90,000 – £95,000 and is on the remainder of a 836-year lease from 2020.
Freehold, a block of 6x 2-bedroom flats at Flats 1-6 Kingswood, Coronation Road, Cowes, has a guide price of £450,000 – £475,000 and is let at £42,840 per annum. All 6 flats are let under terms of Assured Shorthold Tenancy agreements; there are communal gardens to the rear of the building and “the block is considered ideal for addition to an income-producing letting portfolio”.
With a guide price of £10,000+, 0.70 acres of freehold land north-west of Baring Road, Egypt Esplanade, Cowes, has pedestrian access via a gate from Egypt Esplanade on the seafront.
Rob said:
“Situated behind the Hawkins Apartments, the land has a pedestrian right of access along the footpath to the east of the apartments and marked blue on the lot’s identification plan.”
A freehold plot with planning consent for the construction of a detached chalet-style home is at 1 Lower Hornhill, Rew Street, Gurnard, Cowes, and is guided at £90,000-plus.
With a leasehold guide price of £25,000+, a village centre commercial property is let at £4,200 per annum; the premises is at 49A High Street, Brading, Sandown, and the commercial space is currently in use as an office, having previously been occupied as a barbers’ shop.
With previous structural movement, a detached freehold Victorian villa on a double-width plot is guided at £175,000+ and is called Whitegates at Bonchurch Shute, Bonchurch, Ventnor.
A 2-bedroom cottage with sea views at 119 Leeson Road, Ventnor, has a freehold guide price of £150,000+.
On a 999-year lease from 1989, guided at £25,000+ and at a peppercorn ground rental, is a 1-bedroom holiday chalet at 1 Westcliffe, Boxers Lane, Niton, Ventnor. On the same lease terms, a 2-bedroom holiday chalet, also chalked for improvement, is at 13 Westcliffe and is guided at £60,000+.
A semi-derelict cottage at 53-55 St. Catherine Street, Ventnor, with planning permission to be demolished and replaced with 2 semi-detached cottages, has a guide price of £95,000.
Guided freehold at £290,000 – £310,000 is George Street Chambers with offices and a flat at 22 George Street, Ryde and let at £26,100 per annum, with a potential full let of £51,480 per annum.
Rob said:
“This substantial and attractive Georgian building occupies an excellent location in Ryde town centre, a short distance from the hovercraft and fast-cat connections to the mainland.
“The building is at present arranged as a recently refurbished three-bedroom residential flat on the lower ground floor, with the remainder of the building in use as offices, producing a worthwhile investment income.
“Currently partially occupied, the building is considered ideal for use as an income producing investment with the scope to increase the rent through letting the remaining units.
“The building has previously had the benefit of planning consent for full conversion to residential accommodation either as a single dwelling or apartments, or there may be potential for a house in multiple occupation, subject to all necessary consents being obtainable.”
On a 999-year lease from 2017, a first-floor flat at Flat A, 63 High Street, Ryde, has a guide price of £65,000 – £75,000.
A freehold town centre block of four flats at 23 Star Street, Ryde, has a guide price of £280,000 – £300,000.
Chalked for improvement, a 2-storey, 3-bedroom flat with sea views has a guide price of £150,000+; Flat 5 and Flat 7, Wydford House, 23 Bellevue Road, Ryde, is on the remainder of a 125-year lease from March 1987.
A freehold former shop with owner’s 2-bedroom accommodation above and behind is guided freehold at £95,000, a reduction of £30,000 from the previous auction. The property, at 49 Monkton Street, Ryde, is close to Ryde St Johns Road railway station.
Flat 9, Georgina House, 23 Castle Street, Ryde, has a guide price of £70,000+ and is let at £7,200 per annum; with sea views and parking, the 1-bedroom property at a former Victorian gentleman’s residence is on a 125-year lease from 1987.
Guided at £330,000 – £350,000, and let at £24,780 per annum, a freehold block of five flats and a large workshop/store is at 16 Surbiton Grove, Ryde; the flats are let on Assured Shorthold Tenancy agreements.
Guided freehold at £250,000-plus are 1 & 2 Lyndhurst Cottages, Main Road, Porchfield, Newport.
Around 0.08 acres of freehold land at the rear of 33-47 Watergate Road, Newport, has a guide price of £195,000+. A number of residential properties back on to the site.
Harrow Lodge is a snip, but too near to the edge of the
cliff for me.