Lot 129: DETACHED TOWN CENTRE BUILDING PARTIALLY CONVERTED TO THREE SELF-CONTAINED FLATS

This three-storey detached 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