miles
Lot 33

HEAD LEASEHOLD GROUND RENTS WITH COMMERCIAL INCOME

2 & 4 Pier Road & 4 High Street, Seaview, Isle Of Wight, PO34 5BL
2 & 4 Pier Road & 4 High Street, Seaview, Isle Of Wight, PO34 5BL
Sold £104,000

Currently let at £8,480 per annum

This imposing corner property occupies a central position in Seaview which is an attractive village a short drive from Ryde. Both of the commercial units are currently let under commercial leases and producing a healthy income, whilst both of the flats have been sold under the terms of long leases.

Tenancies

4 High Street

Let under the terms of a five year lease from 2nd June 2021 at an annual rent of £2,400.

1 Pier Road

Let under the terms of a seven year lease from 7th November 2019 at an annual rent of £6,000.

Tenure

Flat 1

Sold under the terms of a 999 year lease from 25th December 1886 at a ground rent of £20 per annum.

Flat 2

Sold under the terms of a 999 year lease from 25th December 1886 at a ground rent of £20 per annum.

Tenure

Held under the terms of a 999 year lease from 13th December 1886 at an annual ground rent of £35 per annum.

Auctioneer’s Note

Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.

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/