Lot 129

TOWN CENTRE BUILDING PARTIALLY CONVERTED TO THREE SELF-CONTAINED FLATS

10 West Street, Ventnor, Isle of Wight, PO38 1NQ
Sold £95,000

This three-storey building is situated a short walk from Ventnor's popular Victorian town centre and has the benefit of planning consent for conversion into three self-contained one-bedroom flats.

A good deal of the conversion work has already been completed and the property is now offered for sale for the new owners to complete the conversion works, beyond which it is considered that the finished flat units will be ideal for re-sale into the local marketplace or retention for their income-producing potential.

Proposed Accommodation

Each of the flats will comprise: Living room/kitchen, bedroom and bathroom with W.C.

Tenure

The property is held under a 99 year lease (less 10 days) from 6th July 1909. By virtue of Section 145 of the Law of Property Act 1922, as amended by the Law of Property (Amendment) Act 1924, the land is now held subject to the provisions of the said Act for a term of 2000 years (less one day) from 6th July 1909.

Planning

Planning Permission has been granted by Isle of Wight Council under ref: P/01497/16, dated 16th January 2017, for alterations and conversion of dwelling into three flats, single storey extension at basement level, porch, bin store, 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.

Viewing

Although a significant amount of work has been undertaken, particularly to the outside of the property, internally the building still resembles a construction site, with parts of the floors missing, access to the upper parts via ladders, trip hazards etc. Prospective purchasers are advised that they view entirely at their own risk and to take all reasonable and sensible precautions when inspecting the property internally.

Leasehold with Vacant Possession

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/