Lot 63 - Mixed Residential And Commercial Investment Opportunity
71, 72 & 72a High Street, Isle Of Wight, PO33 2SU
Guide Price: *
£175,000
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:
£175,000Bid history
6 bidsH
01/11/2023 09:39:16 - £175,000
M
01/11/2023 08:55:33 - £174,000
H
31/10/2023 23:54:42 - £173,000
See all 6 bids ▾
Commercial element currently let at £9,300 per annum
Plus vacant flat with potential income. fully let. £18,600 per annum
Situated in a landmark location on the busy crossroads servicing Ryde High Street and St Johns Hill, this attractive building has undergone a programme of upgrading and refurbishment in recent years.
The accommodation includes two retail units on the ground floor, both of which are let, while on the first floor there is a substantial two-bedroom apartment which is vacant. The property is considered ideal for addition to an income-producing property portfolio.
Commercial
71 High Street - Ground Floor
A corner lock-up shop unit with main retail area, two stock rooms and cloakroom with W.C.
Tenancy
Holding over under the terms of a Commercial Tenancy at a current rental of £6,300 per annum.
72 High Street
Ground Floor
A lock-up shop unit with main retail area, former kitchen to rear and access to a shared yard with external W.C. facility.
Tenancy
Holding over under the terms of a commercial tenancy at a current rental of £3,000 per annum.
Residential
72A High Street - Ground Floor
Entrance lobby, utility area and a further space with potential as a study area.
First Floor
Mezzanine landing with bathroom with W.C, first floor hallway, living room, kitchen and two bedrooms.
Tenancy
Currently vacant.
Tenure
Held under the terms of a 900-year ground lease from 1860 at a nominal ground rent which we are advised has not been collected for many years.
Joint Auctioneer
Scotcher & Co, 26 The Mall, Carisbrooke Road, NEWPORT, Isle of Wight, PO30 1BW, 01983 822288
Summary
- Lot number
- 63
- Auction end
- 1st Nov at 13:08
- Property type
- Residential
- Tenure
- Ask Agent
- Bedrooms
- 3
- Bathrooms
- 1
- Council tax band
- Ask Agent
Summary
- Lot number
- 63
- Auction end
- 1st Nov at 13:08
- 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.
