Lot 89 - 44a Spencer Road, Ryde, Isle Of Wight - Clive Emson Auctioneers - Auction Ending 24th July 2024

HOMES UNDER THE HAMMER! 17 PROPERTIES IN CLIVE EMSON’S JULY AUCTION

No less than 17 properties on the Island are being auctioned later this month.

They are among 165 lots across southern England which feature in Clive Emson Auctioneers’ 5th auction of the year.

Rob Marchant, a regional director and auctioneer with the firm, covering the Island, said:

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“There is once again a diverse range of lots to suit budgets for home occupiers, including first-time buyers, buy-to-let landlords and investors.”

Dundas House, 32 The Strand in Ryde, comprising a freehold block of 6 flats, has a guide price of £330,000-£350,000. The building, with 5 flats let on assured shorthold tenancy agreements at £28,080 per annum and previously at £35,360 per annum, has a garden to the front and car parking to the rear, accessed via Simeon Street. 1 flat is vacant.

Lot 97 - Dundas House, 32 The Strand, Ryde, Isle Of Wight - Clive Emson Auctioneers - Auction Ending 24th July 2024

With vacant possession, a 3-bedroom ground floor flat at Flat 8, Oxford House, 10 Barfield, Ryde, has its own private entrance, with views over a shared garden. On a 999-year lease from 1910, the guide price is £115,000 – £120,000, with Seafields as joint auctioneers.

Rob said:

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“The flat is well presented but would benefit from some updating, after which it is considered ideal for owner occupation or addition to an income-producing letting portfolio or weekend retreat.”

With 3 bedrooms, a garden flat at 44A Spencer Road, Ryde, has a guide price of £175,000+ and is on the remainder of a 990-year lease from 1972. Joint agents are Seafields.

Rob said:

“Occupying the lower floor of this splendid Victorian building, the flat requires a programme of upgrading and refurbishment and considered very worthy of the improvements required.

“Once completed it is considered the flat will be ideally suited to owner occupation or addition to a traditional income-producing letting portfolio or use as a weekend retreat/holiday home by an owner occupier or on a commercial basis.

“The building occupies a prime spot on the corner of Spencer Road and Augusta Road, the latter being a private road with direct access to the beach and the Solent beyond.”

Described as ‘for improvement’, a 4-bedroom town centre house at 16 Nelson Street, Ryde, has a freehold guide price of £145,000 – £155,000.

One of the Island highlights is the 4-storey Prince Consort waterfront building at St Thomas Street, Ryde, with a freehold guide price of £350,000 – £400,000.

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Overlooking the Solent, the property was completed in 1847, with the foundation stone having been laid by Prince Albert in the spring of the previous year; it was formerly known as the Royal Victoria Yacht Club.

Rob said:

“Unable to enter the Royal Yacht Squadron at Cowes, which was a male-only establishment, Queen Victoria, far from amused, effectively set up the Royal Victoria Yacht Club as a rival.”

“The yacht club was based in the building until 1966, after which it has had a varied history, having initially traded as a restaurant.

“In more recent years, the upper two floors have been converted into apartments with wonderful views. The lower two floors were last in use as a call centre but have lain vacant for some years.

“The freehold of the building is now offered for sale with scope and potential to bring the lower two floors back into meaningful use.

“Previous, though now lapsed, planning permissions were achieved in 2016 for conversion of the ground floors with both residential and commercial options and usage.

“The freehold is to be offered, with the first floor and penthouse level apartments sold on a long leasehold basis, paying a combined ground rental of £200 per annum and contributing to the management and maintenance of the building.”

2 freehold barns, with consent for residential conversion, are located at Cuddles Corner, Roud and have a guide price of £140,000 – £150,000. BCM are joint agents.

With a guide price of £395,000-plus, a detached house at 5 Hurst Point View, Totland Bay, requires completion. Freehold, the property has 4 bedrooms. Joint agents are Spence Willard.

Rob said: “The current owners are reluctant sellers due to a change of circumstances, having brought the existing build to a significant level of completion. The new owners will have the advantage of deciding on the final fit-out prior to occupation, offering the opportunity to decide on all the finishing touches and final colour schemes.”

Let at £2,410 per annum, a freehold building at 134 and 135 High Street, Newport, has a guide price of £260,000 – £280,000 and comes with part vacant possession. Joint agents are Scotcher & Co.

Mike Marchant, senior auction appraiser, said:

“Benefiting from a prominent corner position in the town centre, the accommodation is split across three floors and the upper two floors offer a good deal of scope and potential for upgrading and remodelling to form several residential units, subject to all necessary consents being obtainable.

“The existing ground floor comprises two retail units, both of which are considered an ideal size for letting to local businesses. The office on the first floor is let on an informal basis.”

With consent for a house to be built, a freehold rural barn at Taggs Farm, Quarry Lane, Calbourne, on 1.27 acres, has a guide price of £250,000-plus. BCM are joint auctioneers.

With 6 bedrooms, half of a former hotel has a freehold guide price of £195,000-plus and is at 23 Atherley Road, Shanklin.

A 1-bedroom, ground-floor flat in Shanklin, with a parking space, has a guide price of £75,000 – £80,000 and is on a 999-year lease from 1988 at a ground rental of £20 per annum; Flat 5, 18 North Road, with a courtyard-style garden, is said to need ‘upgrading and refurbishment’.

Lot 105 - Flat 5, 18 North Road, Shanklin, Isle Of Wight - Clive Emson Auctioneers - Auction Ending 24th July 2024

On a clifftop private estate, 2-bedroom Hill Crest at The Highway, Luccombe, with sea and countryside views, has a freehold guide price of £300,000 – £330,000 and is described as ‘for improvement’.

Poplar Cottage in High Street, Newchurch has a freehold guide price of £150,000-plus.

Rob said:

“The property requires a significant amount of repair and refurbishment and is considered worthy of the improvements.

“The living accommodation extends to two reception rooms and a large kitchen breakfast room on the ground floor while on the first floor are three bedrooms.”

Poplar Cottage is on a 0.13-acre plot which includes a workshop and adjoining timber store to the rear. Arthur Wheeler is the joint auctioneer.

At 50 High Street, Brading, Sandown, a 3-bedroom maisonette has a guide price of £85,000 – £95,000 and is on a 999-year lease from 2023 at a peppercorn ground rental.

Freehold, a 3-storey bar with a garden and parking has a guide price of £200,000 – £220,000 and is at 48 High Street, Ventnor. Until recently, the High Street Bar Company traded there.

A 1-bedroom flat in the former King Charles I hotel in Ventnor has a guide price of £75,000 – £80,000; Flat 1, Kings Charles Court, Grove Road, is on a 100-year lease from July 1992 at an initial ground rent of £50 per annum rising to £200 through the term. There is share of the freehold.

Lot 118 - Flat 1, King Charles Court, Grove Road, Ventnor, Isle Of Wight - Clive Emson Auctioneers - Auction Ending 24th July 2024

Rookley Methodist Church in Niton Road, Rookley, Ventnor, has a guide price of £260,000-plus. Freehold, the Victorian-era building was a place of worship since construction in 1859, with planning permission granted in March this year for conversion into a two-bedroom residence.

Rob said:

“The internal floor area is 1,323 sq ft and the site also benefits from the former community hall, which is a detached building to the rear with an internal floor area of 979 sq ft; this offers scope and potential for further development, subject to planning consents.”

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The views/opinions expressed in these comments are solely those of the author and do not represent those of Island Echo. House rules on commenting must be followed at all times.
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Allan
Allan
10 hours ago

What is the reason behind auctioning as opposed to selling o
In the normal way??

Freddie
Freddie
Reply to  Allan
9 hours ago

Quicker, has to complete in 56days,buyer pays fees to Auction House etc,you get to see search documents and and other stuff about property in advance, you can get own survey done before bidding. It’s all good, especially for seller.

Pompey Paul the Builder
Pompey Paul the Builder
Reply to  Allan
8 hours ago

You could get more money for the property by auctioning
the property.

YJC
YJC
Reply to  Allan
8 hours ago

Generally places are put up for auction when they have been on the market but not sold through estate agents.
Usually, not always, places are sold for less through auction than when they were on the market for but it the sale goes through more quickly.

 

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