The growing reach of West Midlands-based Bond Wolfe Auctions has been underlined by a property from the Isle of Wight which is featured in its upcoming remote bidding auction on Wednesday 16th September.
It offers investors an opportunity to secure a 3-bedroom, detached house in Ventnor, producing an income from a tenant, with a guide price of just £91,000.
The house at 9 Newport Road, Ventnor, is listed as a residential investment property and currently produces a gross income of £14,400 per annum.
The detached property is just a short walk from Ventnor town centre with spectacular sea views. The house comprises a hall, reception room, dining kitchen, utility room and bathroom with WC on the ground floor. There are three bedrooms on the first floor while outside the house has a front decking and garden area.
The majority of the windows are UPVC double glazed units and the property has an electric wet central heating system.
Following the success of its most recent event in July – when the auction achieved a 95% success rate that saw 161 out of 170 lots sold, raising over £16.3 million – the sale this month will be the largest-ever live streamed auction to be held in the UK and starts at the earlier time of 09:00 to accommodate the 214 lots, with potential buyers bidding by proxy, telephone or internet only.
Ian Tudor, managing director at Bond Wolfe Auctions, said:
“We understand that the property is let, subject to an Assured Shorthold Tenancy, at a rental figure of £1,200 per calendar month – £14,400 per annum.
“This makes the guide price particularly attractive for potential investors and we expect considerable interest.”
More details are available at www.bondwolfeauctions.com.