Lot 168

TOWN CENTRE MIXED INVESTMENT COMPRISING RETAIL SPACE AND TWO TWO-BEDROOM FLATS

10-11 High Street, Cowes, Isle of Wight, PO31 7RZ
10-11 High Street, Cowes, Isle of Wight, PO31 7RZ
SEPTEMBER AUCTION

Situated in the heart of Cowes, the internationally renowned yachting centre, this freehold mixed investment comprises retail space on the ground floor and a pair of two-bedroom flats on the first and second floors above. The flats enjoy a separate access from the rear of the building.

The ground floor retail space has previously traded as two separate shop units but is, at present, arranged as a single interconnecting unit and was last in use by a mobile telephone retailer. The building is in need of upgrading and refurbishment, beyond which it is considered ideal for addition to an income-producing investment portfolio. Alternatively, the flats could potentially be sold on a long leasehold basis, once refurbished, with the ground floor retail income retained.

Ground Floor

Interconnecting shop units comprising main retail area to the front, office and store to the rear and staff cloakroom with W.C.

Flat 10A

Ground Floor

Shower room with W.C.

First Floor

Kitchen, living room and inner hall with staircase to second floor.

Second Floor

Two bedrooms.

Flat 11A

First Floor

Kitchen, living room and cloakroom with W.C.

Second Floor

Two bedrooms, both with en-suite shower rooms with W.C.s.

Outside

Small courtyard garden to the rear accessed via Cross Street.

Freehold 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/