Lot 112 Town Centre Bar/eatery With A Two-bedroom And A One Double Bedroom Annexe/flatAuction Date:
21st September 2022
46 High Street, Ventnor, Isle of Wight, PO38 1LT
This substantial freehold building set over three floors is situated in the heart of Ventnor’s town centre and has traded as a well known bar with a food offering for many years. In addition to the bar with commercial kitchen behind there is a two bedroom flat with a roof terrace, on the upper floor which is ideally suited to use by an owner or, of course, for its letting potential. On the lower floor there is a double bedroom annexe/flat which offers owners accommodation.
The property has the advantage of public car parks to both the front and rear of the building with Ventnor town centre which has undergone something of a renaissance in recent years experiencing good levels of tourist footfall. The beach and seafront are a short walk/drive from the High Street.
It is considered that the building is ideally suited to continued use in its current guise operated by a tenant as part of an income producing investment, or by an owner occupier on a home and income basis.
Lower Floor
Owners Annexe/Flat
Living room/dining room, inner hall, bedroom, bathroom/W.C. and kitchen.
Outside
Small patio garden.
Ground Floor
Wine Bar/Restaurant
Main wine bar/restaurant area, ladies and gents cloakrooms with W.C. and kitchen.
Outside
Patio garden.
Second Floor
Upper Flat
Entrance hall, living room/dining room, kitchen, bathroom, W.C., two bedrooms.
Outside
Roof terrace.
Council Tax Band A
Auctioneer's Note
The building is being sold due to the current owner's semi-retirement. For those looking at the business as a going concern a summary of accounts are available on application to the auctioneers.
Freehold with Vacant Possession
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
