Situated in the south-east corner of the Island in the attractive town of Ventnor, the head leasehold interest of this three storey building comprises two shops and five flats.
The two shops and three of the five flats have been sold under long leases, with the two lower ground floor flats remaining under the ownership of the head leaseholder.
Lower Ground Floor
Living room, kitchen/dining room, bedroom and bathroom with W.C.
Believed to be let under the terms of an Assured Shorthold Tenancy at a rental of £525 per month.
Living room, bedroom, kitchen and conservatory.
Believed to be let under the terms of an Assured Shorthold Tenancy at a rental of £475 per month.
Amenity space and parking for one car.
18 & 20 High Street
Both sold under the terms of a 500-year lease, from 27th January 2012, at a current ground rental of £50 per annum.
Sold under the terms of a 120-year lease, from 4th September 1998, at a ground rent of £100 per annum.
Flats 3 & 4
Sold under the terms of a 125-year lease, from 25th March 1995, at a ground rent of £200 per annum.
Held under the terms of a 999-year lease, from 2nd January 1873, at a ground rent of £100 per annum.
Auctioneer's Note 1
We are advised that Flat 2 does not have Planning Consent for residential use. Prospective buyers are advised to rely on their own enquiries.
Auctioneer's Note 2
At the time of publication it has not been possible to inspect substantial parts of the building and interested parties are therefore advised to rely on their own enquiries.
Auctioneers Note 3
Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been served on the residential leaseholders who have not reserved their rights under the legislation.