A former 22-bedroom care home and a landmark Ryde pub are among a range of Isle of Wight commercial properties heading to auction this month.
A total of 228 lots across southern England are listed in the latest online auction by Clive Emson Auctioneers, with bidding live from Tuesday 22nd September and concluding 48 hours later.
The Croft at Hooke Hill, Freshwater, is among the highest-priced Isle of Wight lots, with a guide price of £500,000-£540,000. The property, Lot 172, previously operated as a residential care home registered for 22 live-in residents, although the owners preferred to operate with 20 occupied bedrooms to provide additional space and comfort.
It has been closed as a care home for several years following retirement, with the current owner continuing to live in the owner’s accommodation within the building.
Auctioneers consider the property suitable for a number of potential future uses or possible redevelopment, subject to the necessary consents.
Meanwhile, The Railway pub at 68 St Johns Road, Ryde, is being offered with a freehold guide price of £195,000+.
The well-established pub, at the junction of St Johns Road and Monkton Street, continues to trade and includes a 2-bedroom owner/manager’s flat above. Outside is a good-sized pub garden as well as a smaller private garden attached to the flat. The property is Lot 111.
A vacant 4-storey commercial building at 73 and 74 Union Street, Ryde, is also included with a freehold guide price of £150,000+.
The building, Lot 147, was last used as a high street bar and has a substantial cellar beneath. A kitchen and other amenities are situated on the first floor, while the second floor has previously been used as an owner/manager’s flat.
Another prominent Ryde building going under the hammer is the Commodore Cinema and Bingo Hall at 2 Star Street. The property, Lot 32, is currently let at £35,521.26 per annum and has a guide price of £95,000+.
Rob Marchant, Island auctioneer, has said:
“The commercial income for this landmark building is generated from telecommunications masts, with the cinema and bingo hall let under leases at a peppercorn ground rent.
“The site is held under the terms of three ground leases, although there is no record of ground rent having been demanded for many years.”
The future of the bingo hall and cinema is not in doubt, with both businesses continuing to trade.
In Yarmouth, The Corner Shop at Eremue Court, Bridge Road, has a guide price of £95,000+. The property, Lot 41, is currently let at £7,000 per annum and occupied by a fudge manufacturer and retailer. It is held under the terms of a long leasehold and includes a share in the freehold of the building.
Also returning to auction is Vectis Hall on Melville Street, Ryde. The Grade II listed former free school and community hall, built in 1812, is being offered with a nil reserve as Lot 121 after its proposed sale in June was postponed.
Finally, a ground-floor commercial unit and lower-floor workshop at 13A Cross Street, Ryde, is guided at £65,000-£70,000. The premises, Lot 77, have traded for many years as a wedding dress supplier, with a substantial workshop on the lower floor which was previously used as residential accommodation.
The commercial unit is held on a 950-year lease dating from March 1854.
Bidding in the September auction goes live on Tuesday 22nd September and concludes 48 hours later.
