A block of 3 flats and a former brewery site on the Island has gone under the auctioneer’s hammer for £298,000, alongside a number of other Isle of Wight properties.
The freehold premises at Fairlawns and the former Ventnor Brewery at 119 High Street, Ventnor was among 153 lots listed across southern England by Clive Emson Auctioneers in the firm’s July auction.
Rob Marchant, Island auctioneer for the regional land and property auction firm, said:
“There was keen interest from a bidder, with the gavel falling on £298,000. The former brewery building extends over four floors and has scope/potential for a number of future uses, including perhaps site redevelopment, subject to all necessary consents being obtainable, but we are not privy to any plans the new owner may or may not have.”
Fairlawns was the original home of the Burt family who ran the long-established Ventnor Brewery, prior to its closure about 10 years ago.
With a rental income of £33,240 per annum, a freehold mixed commercial and residential investment at 73 High Street, Shanklin, sold for £300,000.
Rob said:
“Occupying a landmark location at the traffic lights on the corner of the High Street and Victoria Avenue, the three-storey building has an attractive gross yield of just over 11% at £300,000. The ground floor is let to a longstanding commercial tenant who has recently committed to an extension of his previous lease term.
Article continues below this advertisement “The upper floors are arranged as five residential flats, all of which are let under the terms of assured shorthold tenancy agreements and producing a very worthwhile income.“
Just over half an acre of land at Westwood Close, Cowes fetched £68,000, which was £28,000 above the guide price; the freehold site is the residue of a long-built and completed residential housing development.
A 3-bedroom cottage with countryside views – Brookfield at Sandy Lane, Newport – sold for £205,000.
The next auction by Clive Emson Auctioneers, the firm’s 6th of the year, takes place in September.
Bidding ends on 20th September, with live bidding starting 48 hours beforehand. Lot entries close 29th August, with the catalogue available from 2nd September.
All sold off so people can get there 2nd or 3rd homes here. Typical, but not unexpected. There might be a NOT arson at old brewery just like the Gaiety in Ventnor wasn’t arson. You get my drift….. No place like dome.
Wow a lot of thumbs downs, but to wimpy to leave a comment on why you disagree, shame on you.
Comments that recycle on here as good ol’ iow folk law; eg council paid to house problem people on iow, brown paper envelopes regularly passed re planning permissions, every commercial property fire on iow is an insurance scam, our MP is rubbish.. but only one is provably true..! 🙂
They recycle because it happens. If you want to just roll over like a puppy that’s up to you. Snowflake generation is here.
Snowflake generation as against bitter generation; it’s the younger generation that should be bitter saddled with brexit by their elders, if not wisers .. and I’m going on 70 and yet I very rarely hear informed wisdom from my own generation just kneejerk prejudice, and throwing their toys out the pram (and name calling blahdy blah), lol