Isle of Wight commercial property November auction update

The mixed residential and commercial property, at 71-72A High Street, Ryde, was among 137 lots to go under the hammer, at the Clive Emson Auctioneers sale, which includes sites from across southern England.

Rob Marchant, Island auctioneer, said: "The premises has two retail units, let at £9,300 per annum and a large, vacant two-bedroom first floor apartment.”

“Situated on the busy crossroads, at Ryde High Street and St Johns Hill, this attractive building has undergone upgrading and refurbishment in recent years. Regarding tenure, it is 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."

Curraghmore Hotel, Shanklin. (Image: Clive Emson Auctioneers)

Shanklin's Regent Street property. (Image: Clive Emson Auctioneers.)

The hammer fell jointly with Scotcher and Co.

Meanwhile a number of other commercial sites did not change hands.

Shanklin's Curraghmore Hotel was guided at £800,000 - £850,000, while a freehold four-bedroom house, ready for completion by a new owner, at Hurst Point View, Totland Bay, was listed as £450,000-plus.

Also still on the on the books is a double-width former shop unit in Regent Street, Shanklin, which is currently let, at £11,000 per annum, to a tech company. It did not make its £90,000-plus guide price.

A chalet bungalow in Cowes, a two-bedroom, lower ground floor flat, in Queens Road, Ryde, a £5,050-per-annum, retail unit in the pedestrianised area of Ryde and four acres, with barns for conversion and construction of a new dwelling, at Whitelane Farm, Bowcombe Road, Newport also remain on Clive Emson Auctioneers' books.

The property in Totland. (Image: Clive Emson Auctioneers)

Rob said: “It may well be that buyers for come forward over the next few weeks.”

The next auction takes place on December 13, with live bidding starting 48 hours before.

Entries for lots close on November 20.