ROYAL EXCHANGE! GRAND RYDE BUILDING AMONG THOSE GOING TO AUCTION IN MARCH

The Prince Consort building in Ryde, formerly known as the Royal Victoria Yacht Club, is heading to auction with a guide price of £400,000+. 12 property lots on the Island are poised to go under the hammer this month and are among 147 lots listed by Clive Emson Auctioneers across England. The highlight of the forthcoming auction is the 4-storey waterfront building at St Thomas Street, overlooking the Solent, was completed in 1847, with the foundation stone having been laid by Prince Albert in the spring of the previous year. Rob Marchant, Island auctioneer,  said:

“Unable to enter the Royal Yacht Squadron at Cowes, which was a male-only establishment, Queen Victoria, far from amused, effectively set up the Royal Victoria Yacht Club as a rival. “The yacht club was based in the building until 1966, after which it has had a varied history, having initially traded as a restaurant. “In more recent years, the upper two floors have been converted into apartments with wonderful views. The lower two floors were last in use as a call centre but have lain vacant for some years. “The freehold of the building is now offered for sale with scope and potential to bring the lower two floors back into meaningful use. “Previous, though now lapsed, planning permissions were achieved in 2016 for conversion of the ground floors with both residential and commercial options and usage. “The freehold is to be offered, with the first floor and penthouse level apartments sold on a long leasehold basis, paying a combined ground rental of £200 per annum and contributing to the management and maintenance of the building.”

Freehold, a detached 2-bedroom bungalow at 12 Footways, Wootton Bridge, requires ‘some upgrading and refurbishment’ and has a guide price of £185,000+. There are gardens to the front and rear and a driveway to the side giving access to a garage. A 1-bedroom self-contained flat at 4, Victoria Lodge, 71 Monkton Street, Ryde, in need of ‘a significant level of upgrading and refurbishment’,  has a guide price of £45,000-£50,000 and is on a 125-year lease from 1987. https://www.youtube.com/watch?v=WOlK0QIBruM Currently let at £27,850 per annum, a freehold town centre mixed investment at 120 High Street, Ryde, is guided at £250,000+. Rob said:

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“The three-storey building is arranged as a retail unit on the ground floor, trading as a hair and beauty salon and occupied under the terms of a commercial lease, and the first and second floors are occupied by four studio flats which are all let under the terms of assured shorthold tenancy agreements. The property is considered ideal for an addition to an income-producing letting portfolio.”

At a Victorian ‘gentleman’s residence’, a 1-bedroom flat at Coniston House, 9 Coniston Drive, Ryde, has a guide price of £70,000+ and is on a 999-year lease. A freehold town centre investment, comprising a shop and 3 flats, has a guide price of £130,000+ and is at 2 Clarence Buildings, Avenue Road, Freshwater. Rob said:

“The building at present is arranged as a small lock-up shop unit to the front which requires upgrading and refurbishment. “To the rear on the ground floor is a small residential flat, while on the first floor there is a larger residential flat which has been sold off under the terms of a long leasehold arrangement. On the second floor there is a vacant two-bedroom flat which is considered ideal for an income producing letting portfolio. “The garden to the rear which opens onto Tennyson Road may offer scope and potential for off-road parking, garaging, or perhaps even a small residential dwelling, subject to all necessary consents being obtainable.”

https://www.youtube.com/watch?v=BsgUk-PA5F8 A double-width former shop unit at 69-71 Regent Street, Shanklin, let to a tech company at £11,000 per annum, has a guide price of £80,000+ and is to be sold under the terms of a new 125-year lease. Freehold, an end-terrace house with two bedrooms at 57 Adelaide Grove, East Cowes, has a freehold guide price of £150,000+. Rob said:

“The house has most recently been in use as an income-producing letting investment. It is considered that the house is very well suited to similar use or alternatively for owner occupation.”

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A 5-bedroom detached house at Rew Street, Gurnard, Cowes, is guided freehold at £300,000-£330,000. Rob said:

“Located in a semi-rural position, Camp View was originally a pair of farm cottages but is now one five-bedroom house. “The property sits within a plot that extends to a third of an acre, with gardens to the side and front. It is considered there is scope to divide the property back to two smaller cottages, if desired. Indeed, the upstairs accommodation is still split into two, or for renovation of the whole to form a substantial family home.”

A semi-detached town centre building arranged as 2 flats and chalked for improvement has a freehold guide price of £200,000+ and is at 23A & 23B Cross Street, Sandown. With a freehold guide price of £180,000+, a 3/4-bedroom house at 2 Kent Road, Ventnor, is arranged over 3 floors, offering flexible options and is considered very worthy of the significant upgrading and refurbishment required. Currently let at £16,200 per annum, a freehold street bar with a 3/4-bedroom flat above and a beer garden at the back is guided at £190,000-£210,000. Tintos is at 24 Pier Street, Ventnor. The auction ends on Wednesday 20th March; bidding opens 48 hours beforehand.