Lot 171 - Freehold Block Comprising Four Two-bedroom Flats For Investment
St. Georges Hall, George Street, Isle Of Wight, PO36 8JB
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:
£298,000Bid history
6 bidsGThis is an automatic bid as the bidder has set a maximum bid for this lot
12/06/2024 09:32:41 - £298,000
B
12/06/2024 09:32:41 - £297,000
GThis is an automatic bid as the bidder has set a maximum bid for this lot
12/06/2024 09:32:29 - £296,000
See all 6 bids ▾
St George's Hall is believed to have started life as a church hall before taking on a new life as a labour exchange before being converted into four self-contained two bedroom flats. The flats have been let to a Housing Association for approximately 20 years. The Housing Association has an obligation to restore the décor, fixtures and fittings in each flat and these works are ongoing.
At the time of publication, three of the four flats are vacant while the fourth flat is due to be vacated prior to the auction and the Housing Association have undertaken to complete the remedial works prior to the proposed auction completion.
It is considered the flats would be an ideal addition to an income producing letting portfolio.
Accommodation
Each flat comprises an entrance hall, living room/kitchen, two bedrooms and shower room with W.C.
Auctioneer's Note
Flats A, C and D are vacant. Flat B is occupied via Vectis Housing Association and the tenant is due to vacate on 10th June 2024.
Each Flat
Council Tax Band A
Freehold with Vacant Possession
Summary
- Lot number
- 171
- Auction end
- 12th Jun at 15:12
- Property type
- Residential
- Tenure
- Ask Agent
- Bedrooms
- 5+
- Bathrooms
- 3+
- Council tax band
- Ask Agent
Summary
- Lot number
- 171
- Auction end
- 12th Jun at 15:12
- Property type
- Residential
- Tenure
- Ask Agent
- Bedrooms
- 5+
- Bathrooms
- 3+
- 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.
