There was Christmas cheer all round last week when a number of properties and parcels of land on the Isle of Wight went under the auctioneer’s hammer.
Nearly an acre of land with lapsed planning and ‘development potential’ sold for £305,000 at Clive Emson’s auction last Friday (14th December). The site is at Spithead Business Centre in Lake, adjacent to the recently completed Aldi supermarket.
Rob Marchant, Clive Emson’s Isle of Wight auctioneer, said:
“There was keen interest and the site went under the hammer for £305,000, just above the guide price.
“As previously mentioned, the site had planning permission for residential redevelopment, as part of a scheme for industrial/business and residential development on a larger site, but we were advised that the residential element had since lapsed”.
Currently fully let at £12,600 per annum, 28 Pier Street, Ventnor, sold freehold for £134,000, which was £14,000 more than the lower end of the guide price. The property comprises a cafe on the ground floor and a 2-bedroom maisonette.
A lock-up shop at 21 High Street, Shanklin, guided leasehold at £30,000-plus, sold prior to auction and a leasehold lock-up shop at 1 Albert Road in Sandown fetched £42,000 off a guide price of £35-40,000.
Currently let at £2,080 per annum, a detached bungalow at 5 Beech Road, Newport, went for £75,000. A freehold residential investment, 2-bedroom property is presently occupied, since the 1960s, under the terms of a lifetime tenancy, with a current rental of £40 per week.
More than 42 acres of woodland at Grammar’s Common Woodland, Strawberry Lane, Brighstone, sold for £110,000.
The firm’s next regional auction, the first of 8 in 2019, takes place at 11:00 on Friday 8th February at the Solent Hotel & Spa, Whiteley, near Portsmouth.
