Vectis Hall in Melville Street, Ryde will be going under the digital hammer in an online-only timer auction by regional land and property auctioneers Clive Emson ending on 4th November.
The property, which was built when Great Britain was at war with the United States, is a Georgian-era former school which could soon have a new lease of life.
Dating back to 1812, Vectis Hall is among 122 lots being sold online by regional land and property auctioneers Clive Emson. The building has been used as a community hall in more recent years before falling into disrepair.
Rob Marchant, Clive Emson’s Island auctioneer, said:
“It’s unusual for a property to have a nil reserve price but Vectis Hall warrants it because a programme of significant upgrading and refurbishment would be required by the new owner.
“Reputedly the town’s first free school, Vectis Hall has gone on to be utilised in several different guises, including as a community hall. However, recent years of laying empty has taken its toll, including a roof collapse, with the building in a state of disrepair.
“Someone with the right budget, imagination and commitment could transform Vectis Hall into a grand design home or other uses, subject to planning consent.”
Included in the accommodation is a former caretaker/manager’s flat.
Staying in Ryde, a 1-bedroom 1st-floor flat at Flat 3, 42 George Street, Ryde, is guided at £55-65,000; the 999-year lease dates from 1846. Guided at £100,000-plus is a 200 sq m commercial unit over 2 floors and a 1 bedroom flat at Corinthian Court, Cross Street, Shanklin. The 998-year lease dates from 1987.
Planning permission was granted by Isle of Wight Council in September 2017 for the conversion of part of the ground floor to a residential unit, subject to conditions.
Currently, let at £6,900 per annum is a 2-bedroom 2nd floor flat at 27F Holyrood Street, Newport. Guided at £85-95,000, the property has a 999-year lease from 2009.
At 21 Castle Road, Newport is a 3-bedroom terraced cottage guided freehold at £115-125,000.
Clive Emson’s previous auction in September raised in excess of £21million for clients; the sale recorded an overall success rate of nearly 80%, with more than 100 properties exchanging contracts for clients.
Such a shame to see this building in such neglect for so long in a prime position. Would have been worth a lot more to somebody before it became so damaged. I hope the fascia can at least be saved (hopefully it is listed !) great part of Ryde history.
Unfortunately there is no money in keeping the building.It will be knocked down and flats built with the lose of Ryde history.