Lot 95

FREEHOLD RESIDENTIAL INVESTMENT COMPRISING SEVEN FLATS WITH CONSENT TO ADD THREE FURTHER APARTMENTS

Calshot House, 1 Belvedere Street, Ryde, Isle of Wight, PO33 2JN
Calshot House, 1 Belvedere Street, Ryde, Isle of Wight, PO33 2JN
Sold £445,000

Existing seven flats previously fully let at £39,780 per annum

Calshot House occupies a prime position on the corners of Belvedere Street and Melville Street, a short walk from the centre of Ryde with all of its amenities. Many of the flats have recently been refurbished and are considered ideal for addition to an income-producing investment portfolio.

The existing accommodation is set over five floors and is arranged as three two-bedroom flats, one one-bedroom flat and three studio apartments, and there are attractive views over the Solent from the upper floors.

Planning Consent has been obtained for the addition of three further flats to the rear of the building if required, which will enable the income stream to be greatly enhanced.

Lower Ground Floor

Flat 8

Accessed from outside (off communal drying area). Living room, kitchen, utility room, two bedrooms and shower room with W.C.

Tenancy

Currently vacant.

Ground Floor

Flat 1

Studio room with kitchen and bathroom with W.C.

Tenancy

Currently vacant.

Flat 7

Living room, kitchen/dining room, bedroom and shower room with W.C.

Tenancy

Let on an Assured Shorthold Tenancy, from 8th July 2019, at a current rental of £435 per calendar month.

First Floor

Flat 2

Studio room with kitchen and bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy, from 5th June 2019, at a current rental of £410 per calendar month.

Flat 3

Studio room with kitchen and bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy, from 1st August 2019 ,at a current rental of £410 per calendar month.

Second Floor

Flat 4

Living room, kitchen, two bedrooms and bathroom with W.C.

Tenancy

Currently vacant.

Third Floor

Flat 6

Living room, kitchen, two bedrooms and bathroom with W.C.

Tenancy

Currently vacant.

Outside

There is significant car parking to the front of the building with additional amenity space and potential for additional parking to the side. Garage/store.

Planning

Planning Permission has been granted by Isle of Wight Council under ref: P/01383/17, dated 9th January 2018, for demolition of existing extension; proposed three storey block forming three flats, subject to conditions.

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

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/