Lot 108 Freehold Mixed Investment Comprising Four Flats And Two Commercial OfficesAuction Date:
21st September 2022
24 & 26 Carisbrooke Road, Newport, Isle Of Wight, PO30 1BW
Currently fully let at £42,460 per annum
This attractive and imposing freehold detached building is situated on the corner of Carisbrooke Road and Drill Hall Road, with the benefit of vehicular access from the rear via Alexandra Lane. Occupying a plot of 0.07 hectares (0.18 acres) which includes car parking and gardens, the building is at present arranged as a mixed commercial and residential income-producing investment.
On the ground floor there are two commercial offices, one of which is let to the leading Isle of Wight commercial agency Scotcher & Co. In addition, there are four residential flats, all of which are let under the terms of an Assured Shorthold Tenancy Agreement. The building is producing a very worthwhile income stream and is considered ideal for addition to an income-producing investment portfolio.
Commercial Ground Floor
24 Carisbrooke Road
Tenancy
Let under the terms of a Licence Agreement for a term of 12 months, from 12th July 2021, at a current rental of £6,500 per annum.
26 Carisbrooke Road
Tenancy
Let under the terms of a Business Lease for a term of five years, from 23rd December 2020, at a current rental of £5,600 per annum.
Flat 24A
Ground Floor
Entrance hall and stairs.
First Floor
Hallway, living room and kitchen.
Second Floor
Three bedrooms and bathroom with W.C.
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement, from 28th February 2020, at a current rental of £695 per calendar month.
Council Tax Band B
Flat 24B Ground Floor
Entrance hall, living room, kitchen.
First Floor
Two bedrooms and bathroom with W.C.
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement, from 27th August 2021, at a current rental of £750 per calendar month.
Council Tax Band B
Flat 26A First Floor
Living room, kitchen, bedroom, bathroom with W.C.
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement, from 1st August 2002, at a current rental of £390 per calendar month.
Council Tax Band A
Flat 26B First Floor
Entrance lobby, landing, living room, kitchen, cloakroom with W.C., and shower room (no W.C.)
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement, from 9th April 2022, at a current rental of £695 per calendar month.
Council Tax Band A
There is an addendum available to be read
in conjunction with the legal documentation.
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 Buyers Fees
