A bidding war saw a structurally compromised house on the Isle of Wight go under the auctioneer’s hammer for £157,000 yesterday (Friday).
The 3-bedroom chalet-style property at 24 Gills Cliff Road, Ventnor was among 138 lots being sold by regional land and property auctioneers, Clive Emson.
Island auctioneer Rob Marchant said:
“There was keen interest from bidders, with the gavel coming down on a final bid of £157,000, which was £37,000 above the lower end of the guide price.
“Located on the upper slopes above the town, there are splendid views over the English Channel, which appealed to bidders as well. They were not put off by the house having suffered from some structural movement.”
A former lodge cottage in Ryde fetched £186,000 freehold. Westwood Lodge off Queens Road has 3 bedrooms.
Currently let at just under £3,705.84 per annum, 6 freehold garages at the junction of Quarry Road and Alfred Street, Ryde, standing on a 0.07-acre site, went for £50,000.
Clive Emson’s next regional auction takes place at 11:00 on Friday 14th June at the same venue – the Solent Hotel & Spa, Rookery Avenue, Whiteley, near Portsmouth.
More island property being sold on the mainland away from island bidders.
When are we going to get an island auction.