A structurally damaged bungalow with sea views set within nearly 2.5 acres at Luccombe is among a wide range of Isle of Wight properties due to go under the hammer in the latest Clive Emson Auctioneers sale.
Silver Retreat, in Ash Grove, Shanklin, is listed with a guide price of £150,000+ and features 4 bedrooms.
The online auction, the fourth of 8 sales this year by Clive Emson Auctioneers, concludes on 17th June, with bidding opening 48 hours beforehand.
Rob Marchant, Island auctioneer, has said:
“Silver Retreat is situated at Luccombe, a popular and sought-after residential district of the larger town of Shanklin which is a short drive away.
“The substantial bungalow has suffered from some structural movement and damage and as a result requires some significant structural repair.
“Alternatively prospective purchasers may wish to consider site redevelopment subject to all required consents being obtainable.
“In the meantime, Silver Retreat continues to provide a splendid home for the current owner occupier and has scope and potential to continue in this guise or perhaps for use as a weekend retreat or holiday home if required by the purchaser.”
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Another notable Isle of Wight listing is Vectis Hall in Melville Street, Ryde, which is being sold with a nil reserve – meaning it is guaranteed to sell to the highest bidder regardless of how low the final offer may be.
The freehold former school and community hall dates back to 1812 and was used as a filming location for dance scenes in the 1973 British film That’ll Be The Day starring Ringo Starr and David Essex.
Among the higher-value lots in the auction is West Point in Vernon Square, Ryde, a freehold block of 7 apartments guided at £695,000+. The property currently generates £63,120 per annum in rental income.
A split-level 1-bedroom apartment at Dolphin House in Castle Street, Ryde, is guided at £70,000-£75,000. The flat is being sold with a share of the freehold and is held on a 125-year lease from March 1991.
Elsewhere in Ryde, a 2-acre site on the south side of Rosemary Lane is listed with a guide price of £195,000+. Conditional planning consent was previously granted in May 2017 for 9 houses and 5 flats, although the Section 106 agreement was never completed and the consent subsequently lapsed.
Other Ryde lots include a 1-bedroom apartment at Sussex House in St Johns Hill guided at £90,000-plus and a 2-bedroom investment flat at Eden Lodge in East Hill Road guided at £80,000-£90,000, currently let at £9,120 per annum.
In Ventnor, Mews Cottage with land to the rear of 93 High Street is guided at £80,000-plus and described as being in a “very poor state of repair”. The property is considered suitable for significant refurbishment and improvement.
A 1-bedroom investment flat at Silver Mist in Victoria Street, Ventnor, currently let at £6,000 per annum, carries a guide price of £65,000-plus.
Meanwhile, Cuddles Corner at Roud, Ventnor, comprising freehold land and 2 barns with consent for residential conversion, is guided at £120,000+.
The former SNU Spiritualist Church in Victoria Street, Ventnor, is also among the lots and carries a guide price of £140,000-£160,000.
In Freshwater, land to the rear of Vectis House in Avenue Road has a guide price of £30,000+. Planning consent was previously granted in 2007 as part of a wider scheme for 4 town houses, although the plans were never progressed.
Freshwater Heritage Centre in Avenue Road is also listed, with a guide price of £130,000-£150,000. The detached mixed residential and commercial building comprises vacant ground floor commercial space and a separate 2-bedroom flat above.
A former Barclays bank building at 11-13 High Street, Sandown, is guided at £85,000-£90,000.
Elsewhere in Sandown, a 2-bedroom house in Fort Street requiring improvement is guided at £145,000-£155,000.
Other lots include a 2-bedroom investment property in Caesars Road, Newport, currently let at £11,460 per annum and guided at £115,000-£125,000, alongside a further investment property in Carisbrooke High Street generating £8,100 per annum with a guide price of £85,000-£95,000.
Lots at auction on the island this month
Seems to be the only way to sell thesedays.
Sign me up. I’d love to live in or near Seaview!