Lot 69 - Freehold Town Centre Mixed Commercial And Residential Investment With Parking
38 & 38a High Street, Isle Of Wight, PO38 1RZ
Guide Price: *
£185,000
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:
£191,000Bid history
7 bidsH
14/12/2023 16:20:58 - £191,000
PThis is an automatic bid as the bidder has set a maximum bid for this lot
14/12/2023 16:20:41 - £190,000
H
14/12/2023 16:20:41 - £189,000
See all 7 bids ▾
Currently let at £25,299.96 per annum
This imposing double-fronted four storey Victorian building is situated in Ventnor's popular High Street and is arranged as a ground floor shop with the lower ground floor, first and second floors arranged as residential letting units. The commercial space comprises an antiques and art gallery with a small separate area providing additional window space and storage.
The residential accommodation requires a programme of upgrading and refurbishment (although at the time of publication, each unit is let under the terms of an Assured Shorthold Tenancy Agreement). To the rear there is a small garden accessed from the lower flat. Additionally, there is full width parking, suitable for three vehicles.
Commercial
Ground Floor
Double-fronted shop unit with twin doorways at present trading as a L-shaped antiques and art gallery with a small staff area and cloakroom with W.C. Separate smaller lock-up shop unit providing additional window space and storage.
Tenancy
Let under the terms of a commercial rental agreement at a current rental of £563.33 per calendar month.
Residential
Lower Ground Floor
Entrance hall, kitchen/dining room, living room, bathroom/W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement, from 7th September 2017, at a current rental of £475 per calendar month.
Council Tax Band A
First Floor
Entrance hall, living room/kitchen, two bedrooms and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement, from 1st November 2016, at a current rental of £550 per calendar month.
Council Tax Band A
Second Floor
Entrance hall, living room/kitchen, two bedrooms and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement, from 1st December 2011, at a current rental of £520 per calendar month.
Council Tax Band A
Outside
Garden to the rear with parking beyond.
Viewing
External only.
Joint Auctioneer
Hose Rhodes Dickson, 1 High Street, VENTNOR, Isle of Wight, PO38 1RY, 01983 855525
Summary
- Lot number
- 69
- Auction end
- 14th Dec at 16:25
- Property type
- Residential
- Tenure
- Ask Agent
- Bedrooms
- 5+
- Bathrooms
- 3+
- Council tax band
- Ask Agent
Summary
- Lot number
- 69
- Auction end
- 14th Dec at 16:25
- 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.
