A block of five shops with eight flats in Newport has recently sold at auction for £500,000.

Several properties and plots of land on the Isle of Wight went under the virtual auctioneer’s hammer at the end of September and were among 137 lots being sold online by Clive Emson, the regional land and property auctioneers, across southern England.

Scroll through the pictures above to see Island properties which sold...

An uninterrupted freehold block in the town centre of Newport, comprising of five shops and eight flats, fetched £500,000.

The properties at 91-94 Pyle Street, 1 Carisbrooke Road and 1, 2 and 3 Wadham Place, New Street, are currently let at £48,795 per annum.

Rob Marchant, Clive Emson’s Island auctioneer, said: “There was keen interest, with a successful bid of £500,000.

“The three shops, which are at present occupied, are let on commercial leases, with the fourth and fifth shops at present available for rent at £8,750 per annum which, if achieved, would give an overall rental income for the block of £66,295 per annum.”

A mixed investment at 10-11 High Street, Cowes, comprising retail space on the ground floor and two two-bedroom flats on the first and second floors above, went for £283,000, which was £33,000 above estimate.

A three-bedroom flat at 25A Madeira Road, Ventnor, which was guided at £120-130,000 and had beautiful sea views, sold prior to auction.

Half an acre of land off Wellington Road, opposite Lukely Gardens, Newport, went for £14,000 and a 0.36-acre parcel of land adjacent to Love Lane, Bembridge, fetched £13,500 — more than double the guide price.

Clive Emson’s next digital auction ends on Wednesday, 4 November.