miles
Lot 60

VIRTUAL FREEHOLD FORMER BANK WITH POTENTIAL

19 High Street, Shanklin, Isle Of Wight, PO37 6JX
19 High Street, Shanklin, Isle Of Wight, PO37 6JX
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Sold Prior

This attractive landmark building occupies a prime position in the centre of Shanklin, a popular seaside town situated on the southeast corner of the Isle of Wight. The building has undergone a programme of extensive upgrading and refurbishment since it ceased trading as a bank.

The three vacant floors offer scope and potential for a wide range of future commercial uses, subject to all necessary consents being obtainable. Alternatively, it is considered that the first floor accommodation offers scope and potential for residential conversion, again subject to all the necessary consents being obtainable.

Local Planning Authority

Isle of Wight Council. Tel: 01983 823552. Website: iwight.com.

Basement Level

A range of useful store rooms including the former bank strong room.

Ground Floor

Open plan office/reception area, inner lobby with staff kitchen facilities, meeting room and cloakroom with W.C.

First Floor

A range of smaller offices/meeting rooms, kitchen area and cloakroom with W.C.

Second Floor

Occupied by a residential apartment which has been sold on a 125 year lease, from 23rd April 2008, at a ground rental of £100 per annum.

Auctioneer's Note

The second floor flat is accessed via a separate staircase from the High Street, which also has a door into the first floor commercial space. It is considered that this staircase may provide an access point to a flat on the first floor of the building, should planning for a conversion to provide residential accommodation be obtained.

Tenure

Remainder of a 873-year lease, from 5th October 1874, at a peppercorn ground rent.

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/