Lot 135 - Freehold High Street Bar With Four-bedroom Flat Above
Tintos, 24 Pier Street, Isle Of Wight, PO38 1ST
Guide Price: *
£155,000
Fees apply
Buyer's fee:Check legal pack
All fees include VAT at 20%
Holding Deposit: *£5,000
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
Traditional
Sold for:
£155,000Bid history
1 bidP
04/04/2024 11:09:22 - £155,000
Currently let at £16,200 per annum until October 2024
Tintos is a well known town centre bar situated adjacent to the former bus garage and a short walk from the Esplanade and beach. The building also comprises a three/four-bedroom flat on the upper two floors with a beer garden to the rear.
The whole building is, at present, let under the terms of a Law Society lease until early October 2024. It is considered the property could continue as a next investment opportunity. Alternatively, there is undoubted scope and potential to separate the commercial and residential elements for investment and/or owner occupation. A further alternative may be to consider splitting the residential accommodation into two smaller flats, subject to all necessary consents being obtainable.
Commercial
Ground Floor
Main bar area, ladies' and gents' cloakrooms and small former kitchen/prep room.
Residential
First Floor
Landing, living room, kitchen and bedroom.
Second Floor
Landing, three bedrooms and bathroom with W.C.
Outside
Garden to rear.
Council Tax Band B
Auctioneer's Note
There is a cellar accessible from the communal lobby to the front of the building.
Local Planning Authority
Isle of Wight Council. Tel: 01983 823552. Website: iow.gov.uk.
Tenancy
Let under the terms of a Law Society lease for a term of five years ending on 5th October 2024 at a current rental of £16,200 per annum.
Summary
- Lot number
- 135
- Auction end
- 4th Apr at 11:20
- Property type
- Residential
- Tenure
- Ask Agent
- Bedrooms
- 3
- Bathrooms
- 1
- Council tax band
- Ask Agent
Summary
- Lot number
- 135
- Auction end
- 4th Apr at 11:20
- Property type
- Residential
- Tenure
- Ask Agent
- Bedrooms
- 3
- Bathrooms
- 1
- Council tax band
- Ask Agent
This property is being sold by:
Clive Emson - Hampshire, Dorset, Wiltshire & Isle of Wight
01489 564606
Unit 14, Fulcrum 2, Solent Way, Whiteley, Fareham, Hampshire, PO15 7FN
†Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
* Pricing Information
The Guide Price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide Price amount.
Bamboo Auctions and Clive Emson Auctioneers shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box above or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail.
Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by Clive Emson Auctioneers. All legal documents in relation to this property have been provided by the Vendor's solicitor. Neither Bamboo Auctions or any individual in employment with Bamboo Auctions makes any warranty as to the accuracy or completeness of any of the property information.
These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.
