A vacant seafront pub in Shanklin has gone under the auctioneer’s hammer for £391,000 in a bidding war.
The freehold Chine Inn (lot 98) was among 195 lots listed across southern England in the 18th September auction by Clive Emson Auctioneers – the firm’s largest auction by lot numbers in 13 years.
There was keen interest in the pub, located beside Shanklin Chine, which attracted 30 bids and went for £41,000 more than the lower end of the guide price.
Freehold land adjacent 2 Laneside, Field Lane, St Helens, previously an enclosed parcel of former garden, went for £56,000 off 24 bids, which was £26,000 more than the guide price (lot 12).
On a 999-year lease, vacant 2-bedroom Flat 3 at Salsette Court, 30 The Strand, Ryde, was bought for £115,000 (lot 168).
With 21 bids, a prominent town centre vacant commercial unit in Sandown fetched £60,000, which was £15,000 above guide. Unit 2, 44 Beachfield Road, last in use as a café, is on a 999-year lease (lot 22).
Arranged as office suites over 2 floors and with scope for conversion to residential, subject to planning consent, a 6,500sqft freehold town centre building sold for £170,000 and is at 4-5 St James Street, Newport (lot 70).
Comprising 2 shops, a flat and with scope for further sub-division, the freehold building at 19-21 School Green Road, Freshwater, went for £146,000 (lot 120).
The Village Bakery commercial premises at Avenue Road, Freshwater, sold freehold with vacant possession for £109,000, which was £49,000 above guide following 47 bids (lot 106).
Freehold with vacant possession, a 2-bedroom terraced house at 30 Clifford Street, Newport, fetched £93,000 (lot 133).
Flat 1 at 1-3 Pier Street, Ventnor, a 2-bedroom flat with vacant possession, sold for £95,000 (lot 152).
The auction of a freehold town centre house, commercial investment and car park at 23, 24 and 25 Newport Street, Ryde, which was guided at £320,000 – £350,000, was postponed (lot 80). As was the auction of a traditional farmhouse, which has planning consent for the residential conversion of a barn and was guided at £675,000-plus and stands on nearly 18 acres. Whitefield Farm, Ashey Road, Ryde, is freehold, with vacant possession (lot 173).
The firm’s seventh online auction of 8 this year ends on 30th October, with bidding live 48 hours beforehand. Lot entries close on 6th October, with the catalogue from 9th October.
Back in the day The Chine Inn was a great place to dine
no where better than overlooking Shanklin Chine.
The late Bill Downer would have been shocked it sold
fo so little, such a shame.
Bill owned a couple of excellent pubs.
Bill only had a wet trade no food. (which to me was the attraction of the pub) and you’re forgetting the recent landslides insurances etc. The new owner will still have to spend probably 40/50k to get it treat the damp and get it up to scratch. So to me it’s still a bit hefty. This isn’t a dig at Bill who i’ve known for 50 years. I worked for him on the beach back in the late 70’s early 80’s.
Back in the 80s and 90s The Chine Inn and
The Longshoreman both owned by Bill
used to serve up great food, especially The Chine Inn
Sunday roasts were my favourite.
You must remember Biol running the boats at
Shanklin beach.
The good old days.