A diverse range of residential and commercial properties on the Island are set to go under the hammer in the latest Clive Emson auction.
They are among 161 lots across southern England being auctioned on 22nd September by the regional land and property auctioneers.
Rob Marchant, Clive Emson’s Island auctioneer, said:
“There is another attractive selection of properties for investors and first-time buyers, as well as later-stage home occupiers here, on the Island. We anticipate keen interest.”
Receivers have also instructed the sale of the head leasehold of 3 shops and 6 flats at 18-20 High Street, Ventnor, which are fully let at £12,500 per annum, with a guide price of £115,000-125,000.
In a further receivership sale, a freehold investment has an estimate of £70,000+ and is at 94-94A High Street and 2 Victoria Street, Ventnor. Fully let at £8,400 per annum, the entire holding comprises 2 commercial units and 3 flats.
In another receivership sale, a freehold mixed investment at 12 St James Street, Newport, comprising a shop and four flats, is guided at £300,000+, with the commercial lease generating £12,750 per annum and the flats let on assured shorthold tenancy agreements.
A 0.29-acre plot of land adjacent Cliff Bank, St Catherine Street, Ventnor, has an estimate of £100,000+ and historically has had planning consent for residential development.
A 3-storey former pub, The Stag at 45 Sandown Road, Lake, is guided freehold at £280,000-300,000.
“It is considered that the former public house may be suitable for conversion to other uses, including potentially residential accommodation, subject to planning permission.
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“The upper floor has a recently refurbished four-bedroom house of multiple occupation – HMO – which is producing a very worthwhile income in its own right.”
The HMO currently generates £15,900 per annum, with 1 bedroom empty, Rob said.
Guided freehold at £450,000+ is The New House, The Broadway, Totland Bay.
“The curent owners have brought the existing build, with four bedrooms, to a significant level of completion – new owners have the advantage of deciding on the final fit-out prior to occupation.”
“The house is a short drive from the Needles and Yarmouth, with all of its boating and other amenities, including the car ferry connection to Lymington, whilst Freshwater, with all of its shopping and other amenities, is also close by.”
Chalked for “upgrading and refurbishment”, a semi-detached house at Rowantree, Main Road, Arreton, 3 miles south east of Newport, is guided freehold at £150,000-160,000 and has 2 bedrooms. There is scope for a third bedroom if reconfigured, Rob said.
Freehold, a town centre premises with upper parts for potential development, subject to planning consents, is guided freehold at £180,000-200,000 and is at 104 and 105 St James Square, Newport.
The vacant terraced property sits between Barclays Bank and The Entertainer.
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