Lot 120

VIRTUAL FREEHOLD TOWN CENTRE BUILDING PARTIALLY CONVERTED INTO FIVE SELF-CONTAINED FLATS

Somerville, 14 St Georges Road, Shanklin, Isle of Wight, PO37 6BA
Somerville, 14 St Georges Road, Shanklin, Isle of Wight, PO37 6BA
Sold £270,000

Having traded for many years as a guest house, planning consent was obtained in 2016 for the property to be converted into five attractive apartments. Work has commenced on the conversion which now requires completion.

Once completed it is considered that the flats will be ideal for re-sale or retention as an incoming-producing letting investment.

The new flats will be a mix of one and two bedroom units, with car parking to the front and gardens to the rear.

Proposed Accommodation

Ground Floor

Flat 1

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

Flat 2

Entrance hall, living room/kitchen, two bedrooms and bathroom with W.C.

Ground Floor & First Floor

Flat 3

Entrance hall, living room/kitchen, two bedrooms and bathroom with W.C.

First Floor

Flat 4

Entrance hall, living room/kitchen, two bedrooms and bathroom with W.C.

Flat 5

Entrance hall, living room/kitchen, two bedrooms and bathroom with W.C.

Tenure

Remainder of a 999 year lease from 6th April 1869 at a current ground rental of £12,7 shillings and 6d per annum.

Outside

Parking to the front and gardens to the rear.

Planning

Planning Permission has been granted by Isle of Wight Council under ref: P/01342/16, dated 19th December 2016, for change of use from Guest House to five self-contained flats, subject to conditions.

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

Auctioneer’s Note

The planning details listed are as per the originally granted planning consent. We are advised by the seller that some changes have been made during the initial conversion works to provide three two-bedroom flats and two one-bedroom units. We are further advised that these amendments have been verbally approved by the Local Planning Authority but require formalisation.

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 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 cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

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 cliveemson.co.uk/buyers-fees/