Lot 76 Freehold Building Arranged As Five Residential Dwellings On A Plot Of Over 0.5 Acre With PotentialAuction Date:
21st September 2022
The Brannons, Station Road, Wootton Bridge, Isle Of Wight, PO33 4RQ
Three dwellings currently let at £21,480 per annum - plus two vacant flats
The Brannons comprises an imposing red brick building which would once have been a splendid family dwelling. With a single storey addition to the side the building was converted many years ago to provide five residential dwelling units which have all been let and provide a very worthwhile income.
Three of the dwellings are occupied under the terms of Assured Shorthold Tenancy Agreements while Flats 1 and 2, occupying the ground floor of the original building, are at present vacant and in need of a programme of upgrading and refurbishment.
Once the required works are completed these units are considered ideal for re-letting with the whole property continuing to provide a worthwhile income stream for a letting portfolio.
Alternatively, The Brannons is sited on a plot of 0.24 hectares (0.60 acres) which it is considered may have some scope for re-development, subject to vacant possession and all necessary consents being obtainable.
Local Planning Authority
Isle of Wight Council. Tel: 01983 823552. Website: iow.gov.uk.
Ground Floor
Flat 1
Living room, cloak room with W.C, shower room, kitchen and bedroom.
Tenancy
Currently vacant.
Council Tax Band A
Flat 2
Entrance hall, kitchen, living room, bedroom and shower room with W.C.
Tenancy
Currently vacant.
Council Tax Band B
First Floor - Flat 3
Living room, kitchen, two bedrooms, bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy, from 13th October 2009, at a current rental of £500 per calendar month.
Council Tax Band B
Flat 4
Entrance hall, living room, kitchen, two bedrooms, bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy, from 13th April 2007, at a current rental of £595 per calendar month.
Council Tax Band B
Bungalow - Unit 5
Kitchen/dining room, living room, two bedrooms, shower room and cloakroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy, from 19th January 2018, at a current rental of £695 per calendar month.
Council Tax Band B
Outside
Gardens to front, side and rear and parking area to the front suitable for numerous cars.
Auctioneer’s Note
At the time of publication the Auctioneers been unable to internally inspect Flats 3 & 4. These details have been supplied by the joint auctioneers and interested applicants should rely on their own investigations to verify the information provided.
There is an addendum available to be read
in conjunction with the legal documentation.
Joint Agents
Chinneck Shaw
023 9282 6731
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
