Situated in a popular residential area, a short distance from the centre of Ryde with all its shopping and other amenities, including Hover and FastCat connections to the mainland. This freehold building is arranged as five flats, each with their own meters for gas, electric and water, with both ground floor units having the benefit of gardens to the front and rear.
The remaining three floors of the building are split into three further flat units, with the flats on the upper two floors in particular enjoying an attractive view over the town and towards the Solent beyond.
The building is considered ideal for addition to an income-producing letting portfolio.
In addition to the gardens the property has the further benefit of a large garage/workshop which provides useful storage but it is considered that this building may have scope and potential for conversion or perhaps demolition and the construction of a replacement residential dwelling, subject to all necessary consents being obtainable.
Flat 1 Lower Ground Floor - Front Living room, inner hall, kitchen, bedroom, dressing room and shower room with W.C.
Outside Garden to the front.
Tenancy Let under the terms of an Assured Shorthold Tenancy Agreement for an initial term of 6 months from 31st October 2015 at a current rental of 380 per calendar month.
Flat 2 Lower Ground Floor - Rear Living room, inner hall, kitchen, bedroom and shower room with W.C.
Outside Garden to the rear.
Tenancy Let under the terms of an Assured Shorthold Tenancy Agreement for an initial term of 6 months from 31st December 2006 at a current rental of 415 per calendar month.
Flat 3 Upper Ground Floor Entrance hall, living room/kitchen, bedroom and shower room with W.C.
Tenancy Let under the terms of an Assured Shorthold Tenancy Agreement for an initial term of 6 months from 14th May 2005 at a current rental of 410 per calendar month.
Flat 4 First Floor Entrance hall, living room, kitchen, bedroom and bathroom with W.C.
Tenancy Let under the terms of an Assured Shorthold Tenancy Agreement for an initial term of 6 months from 28th April 2013 at a current rental of 430 per calendar month.
Flat 5 Top Floor Entrance hall, living room, kitchen, cloakroom with W.C., bedroom with en-suite shower room with no W.C.
Tenancy Let under the terms of an Assured Shorthold Tenancy Agreement for an initial term of 6 months from 2nd June 2019 at a current rental of 430 per calendar month.
Local Planning Authority Isle of Wight Council. Website: iow.gov.uk. Tel: 01983 823552.
Each Flat EPC Rating C
Each Flat Council Tax Band A
Residential EPC: C
Important: All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.
Price Information *Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at www.cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
*An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to www.cliveemson.co.uk/buyers-fees/
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