Lot 150: FOUR STOREY TOWN CENTRE BUILDING WITH PLANNING FOR FOUR FLATS AND CONTINUED COMMERCIAL USE

Mixed Commercial/Residential - Isle of Wight
Mixed Commercial/Residential - Isle of Wight
Ground floor.
Mixed Commercial/Residential - Isle of Wight
Second floor.
Mixed Commercial/Residential - Isle of Wight
Second floor.
Mixed Commercial/Residential - Isle of Wight
First floor.
Sold After

This substantial four storey building enjoys the benefit of rear access from the Orchardleigh car park and to the front overlooks Shanklin High Street, and has until recently been trading as a restaurant at ground floor level.

The building has in recent times undergone improvements to include new windows, upgraded electrics, and upgrading and repairs to the roof.

Planning Consent has now been obtained for conversion of the significant basement into an apartment, with access from the rear, with a further one bedroom flat to be created to the rear of the ground floor to augment the two large two bedroom flats on the first and second floors.

It is considered that once the conversion works have been completed, the property will be ideal for use as an income-generating investment. Alternatively, it is considered that the four residential apartments could be sold into the local residential marketplace.

Planning

Planning Permission has been granted by Isle of Wight Council under ref: P/01412/17, dated 10th May 2018, for conversion of basement and commercial kitchen on ground floor to create two additional flats; alterations to shop front to provide new entrance; removal of chimney extract; installation of new windows and roof lights within south and west elevations (revised application), subject to conditions.

A copy of the Planning Consent and proposed plans will be available to download from the Clive Emson website, inspection at the Auctioneer’s Office or via the Isle of Wight Council website.

Proposed Accommodation

Basement Flat

Entrance hall, living room, kitchen, cloakroom with W.C. and bedroom with en-suite bathroom with W.C.

Ground Floor

Retained restaurant/commercial space with store room and cloakroom with W.C. Rear flat comprising entrance hall, living room, kitchen, bedroom and shower room with W.C.

First Floor

Entrance hall, living room, kitchen and two bedrooms, one with en-suite shower room with W.C., and separate bathroom/W.C.

Second Floor

Entrance hall, living room, kitchen and two bedrooms, one with en-suite shower room with W.C., and separate bathroom/W.C.

Outside

Rear pedestrian access from Orchardleigh car park and small courtyard garden.

Freehold with Vacant Possession

Residential EPC: D
Commercial EPC: E