Lot 52

FREEHOLD TOWN CENTRE RE-DEVELOPMENT OPPORTUNITY

64 & 65 Pyle Street, Newport, Isle Of Wight, PO30 1UL
64 & 65 Pyle Street, Newport, Isle Of Wight, PO30 1UL
Sold £240,000

Situated in central Newport which is the Isle of WightÂ’s county town, this substantial freehold property enjoys a dual frontage onto both Pyle Street and Scarrots Lane to the rear. The building was previously occupied by a well-known Island meat wholesaler and as such is configured to include large walk-in fridges and freezers on the ground floor with additional vehicle garaging and storage. On the first floor there are office and store rooms to both front and rear elevations.

It is believed that there was once a central courtyard between the Pyle Street and Scarrots Lane buildings although this was covered over for the convenience of the previous occupiers. While there is potential for continued commercial usage it is considered that the site offers great scope and potential for re-development either by way of conversion or potentially demolition and re-development of the whole site to include a residential element, subject to all necessary consents being obtainable.

It is worthy of note that many of the buildings with frontages onto Scarrots Lane have previously undergone conversion or re-development.

Local Planning Authority

Isle of Wight Council. Tel: 01983 821000. Website: iow.gov.uk.

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/