Four properties on the Isle of Wight have gone under the auctioneer’s hammer.
They were among 132 lots listed by regional land and property auctioneers Clive Emson in the firm’s latest auction in southern England.
A two-bedroom leasehold flat at 4, Silvermere Court, Alma Road, Ventnor, went for £120,750, which was £5,750 above estimate.
The corner building at 2 and 4 Pier Road and 4 High Street, Seaview, comprising two rented commercial units and two flats sold on long leases, fetched £104,000 against the guide price of £80,000 — an increase of £24,000.
Currently let at £8,480 per annum, the purchase includes the head leasehold ground rents.
Guided at £125-135,000, the landmark former NatWest bank at 19 High Street, Shanklin, sold prior to auction.
Rob Marchant, Clive Emson’s Isle of Wight auctioneer, said: “A good offer was made to the seller prior to the auction. The three vacant floors offer scope and potential for a wide range of future commercial uses, subject to all necessary consents being obtainable.
“Alternatively, it is considered that the first-floor accommodation offers scope and potential for residential conversion, again subject to all the necessary consents being obtainable.”
The lease is on the remainder of an 873-year lease, from October 1874, at a peppercorn ground rent.
Another property sold beforehand — a two-bedroom maisonette was guided leasehold at £150-160,000 and is at 5A Market Street, Ventnor.
Clive Emson’s third of eight auctions this year ends on May 5, with lot entries closing on April 11 and the catalogue online from April 15.
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