Lot 141 - Freehold Town Centre Mixed Commercial And Residential Investment
73 High Street, Isle Of Wight, PO37 6NL
Guide Price: *
£300,000
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:
£300,000Bid history
6 bidsPThis is an automatic bid as the bidder has set a maximum bid for this lot
26/07/2023 15:51:22 - £300,000
I
26/07/2023 15:15:04 - £298,000
PThis is an automatic bid as the bidder has set a maximum bid for this lot
26/07/2023 15:14:35 - £295,000
See all 6 bids ▾
Guide Price* : £300,000 Plus
Currently let at £33,240 per annum
Occupying and landmark location at the traffic lights on the corner of the High Street and Victoria Avenue, this freehold three storey building would make an excellent addition to an income-producing property portfolio.
The ground floor is let to a longstanding commercial tenant who has recently committed to an extension of his previous lease term. The upper floors are arranged as five residential flats, all of which are let under the terms of Assured Shorthold Tenancy Agreements and producing a very worthwhile income.
Ground Floor
Commercial
Main retail space with staff cloakroom and small kitchen and additional store room situated on the other side of the residential communal hallway.
Tenancy
Let under the terms of a recently renewed five-year commercial lease, expiring on 17th May 2028, at a current rental of £6,000 per annum.
Flat 8 (Ground Floor Rear)
Entrance hall, living room/bedroom, kitchen, utility room and shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £425 per calendar month.
First Floor
Flat 5
Living room/bedroom, kitchen and shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £425 per calendar month.
Flat 6
Entrance hall, living room, kitchen, bedroom and shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £500 per calendar month.
Second Floor
Flat 1
Living room/kitchen, bedroom and shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £500 per calendar month.
Flat 2
Entrance hall, living room/kitchen, bedroom and shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £420 per calendar month.
Each Flat Council Tax Band A
Joint Auctioneer
Gully Howard, Suite 12 Salisbury Gardens, Dudley Road, VENTNOR, Isle of Wight, PO38 1EJ, 01983 301434
Summary
- Lot number
- 141
- Auction end
- 26th Jul at 16:12
- Property type
- Residential
- Tenure
- Ask Agent
- Bedrooms
- 1
- Bathrooms
- 1
- Council tax band
- Ask Agent
Summary
- Lot number
- 141
- Auction end
- 26th Jul at 16:12
- Property type
- Residential
- Tenure
- Ask Agent
- Bedrooms
- 1
- 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.
