A rural thatched cottage on the Island has sold for £240,000 at the latest Clive Emson property auction.
Stone Cottage in Kingston Road, Kingston, sold for £10,000 above the guide price and was among 139 lots listed across southern England by the auctioneers.
Mike Marchant, a senior auction appraiser with Clive Emson Auctioneers, said:
“There was keen interest in the freehold cottage, with 16 bids made and a final bid of £240,000, which was £10,000 above the guide price.
“As described in our auction catalogue, Stone Cottage requires a programme of significant upgrading and refurbishment and is considered very worthy of the works required.
“Adjoining the cottage is the remains of a stone barn which has potential for restoration or, perhaps, for alternative uses, subject to all necessary consents being obtainable.”
4 other Island lots are re-available, including Morton Cottage, Morton Old Road, Brading, which sits on 1.41 acres and is close to Brading Roman Village. It was guided at £630,000.
Clive Emson Auctioneers holds 8 auctions each year. The next one, the first of 2023, ends on 8th February, with bidding live 48 hours beforehand. Lot entries close on 16th January and the catalogue is available from 20th January.
The value must be in the land, thatching costs an arm and a leg and massive hike on home insurance.