Nearly 20 Isle of Wight properties are poised to go under the hammer in June in a milestone auction.
They are among 174 lots listed across southern England in the 250th auction by Clive Emson Auctioneers, which held its first auction in December 1989 after being founded 2 months before by Clive Emson MBE.
Rob Marchant, Island auctioneer, said:
“We have sold many properties and plots of land on the Island over the past few decades and it is always a genuine pleasure acting for clients who entrust us to sell their buildings and land in a fast, efficient and transparent manner. For our milestone June auction there are a bumper number of properties on the Island in our catalogue, a mix of residential and commercial.”
The auction ends on 12th June, with bidding live from 10th June.
Guided at £300,000+ is a freehold block of flats at St George’s Hall in George Street, Sandown, with vacant possession.
The hall, previously a church hall and labour exchange, was converted into 4x 2-bedroom flats and let to a housing association for some 20 years.
A freehold town centre building at 95 High Street, Newport, covers more than 11,000 sq ft over 2 floors and has a guide price of £300,000-£330,000, with Gully Howard as joint auctioneers.
Westfield Cottage, a 2-bedroom freehold residence in a semi-rural location at New Road, Porchfield, Newport, is guided at £150,000-plus and comes with vacant possession.
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 2-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.”
With a potential rental income of £10,200 per annum, a vacant first-floor apartment at 28, Riveria Park Apartments, Shore Road, Bonchurch, Ventnor, has a guide price of £120,000-plus; a 250-year lease will be granted on completion, with no annual ground rent. There are two bedrooms and a south-facing balcony.
Let at £6,550 per annum, a commercial investment at pedestrianised 38/38A High Street, Ryde, is guided at £70,000-plus.
The ground floor is let to a charity and held under a 999-year lease from 1853; the flat above was sold on a 999-year lease, less one day, from the same year, with a current ground rental of £50 per annum.
A former council works depot on 0.76 acres of land at Victoria Crescent, Ryde, with planning permission for five houses, has a freehold guide price of £210,000 – £230,000; joint auctioneers are Scotcher & Co.
With views of the Solent from the upper parts at the back, a town centre house at 16 Nelson Street, Ryde, has three storeys and four bedrooms. On a 999-year lease from 1860, and an annual ground rent of £46 shillings and 6d, the property requires “some upgrading and refurbishment” and is guided at £180,000-plus.
There is a 2-storey rear extension which could be adapted into a small self-contained annexe.
With vacant possession, a three-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.
A freehold town centre investment at Avenue Road and Tennyson Road, Freshwater, is guided at £50,000-plus, with Scotcher & Co as joint auctioneers.
Guided at £85,000-plus is another freehold town centre building, at 11-13 High Street, Sandown.
Rob said:
“Originally constructed as a branch of Barclays bank to serve Sandown, the 2,400 sq ft ground floor in more recent years provided offices for solicitors Jerome & Co. Vacant, the space offers scope and potential for continued use in a commercial guise.
“The rear of the ground floor may be suited to residential conversion, subject to planning consents, as there is pedestrian access, while the front section could remain as commercial.”
Converted into a flat, the first floor has been sold on a long leasehold. Scotcher & Co are joint auctioneers.
A short distance from the theatre, a freehold row of 2/3 lock-up shops occupies a “prominent trading position” at 52, 52A & 52B High Street, Shanklin, and is guided at £60,000-plus.
Nearby, a landmark building at 59 High Street, Shanklin, is guided at £170,000 – £190,000. Freehold, with vacant possession, the property was formerly a restaurant and prior to that a tearoom for many years.
On a 999-year lease from 1988, with a ground rental of £20 per annum, a ground floor garden flat has a guide price of £95,000-plus. The vacant property, with allocated parking and a courtyard-style garden to the rear and side, is Flat 5, 18 North Road, Shanklin. Joint agents are Arthur Wheeler.
Half of an original hotel, a six-bedroom house at 23 Atherley Road, Shanklin, is guided at £225,000-plus and is freehold.
Rob said:
“The vacant property offers substantial and significant living accommodation, which also comes with a high degree of flexibility and indeed potential for future usage.
“Whilst in need of some upgrading and refurbishment, the property is considered worthy of improvements.”
Freehold, with vacant possession, a three-bedroom semi-detached house at 50 High Street, Shanklin, has a guide price of £135,000 – £145,000. There is a courtyard garden to the side.
Currently let at £43,150 per annum, a town centre investment at Ryde, on a 999-year lease from 2000, has a guide price of £300,000 – £330,000. Fronting the pedestrianised High Street, the auction lot comprises three let commercial premises at 20 and 21 High Street and 22 Anglesea Street, with number 20 occupied by WH Smith since 2000, number 21 by Crepe Lovers Ltd and a smaller third unit, at 22 Anglesea Street, by Good As Gold Beauty.
Planning permission has been granted for five flats on the “substantial upper parts”. Scotcher & Co are joint auctioneers.
An end-terrace house, with two bedrooms, at 57 Adelaide Grove, East Cowes, has a guide price of £140,000 – £150,000. With vacant possession, Rob said the freehold residence was previously an income-producing letting investment.
Currently part-let at £2,140 per annum, a freehold commercial property at 134 and 135 High Street, Newport, has a freehold guide price of £270,000 – £290,000.
With three floors and two upper floors, the property is said to “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.
Why are council selling land cheap if has planning permission for 5 Houses?. Council should build them and then sell and make some money,or at least build to rent . No Council will pay more than selling for one building plot!.