Lot 29 Two Freehold Cottages And A Former Convenience Store With PotentialAuction Date:
14th December 2022
50 & 51 Monkton Street, Ryde, Isle Of Wight, PO33 2BB
Situated close to Ryde's St Johns Road railway station, this freehold building will have started life as two lock-up shop units with living accommodation behind. Over the years the layout has been altered with the shop units having been combined into a single larger retail unit which, most recently, was trading as a local convenience store. The living accommodation to the rear was re-configured to suit the then owner’s requirements.
The former convenience store to the front of the site is a single storey building and is considered to have scope and potential for future commercial use or, potentially, conversion into residential accommodation, subject to all necessary consents being obtainable.
The cottages to the rear are in a poor state of repair but are considered ideal for restoration to, once again, provide residential accommodation for owner occupation or for addition to an income-producing letting portfolio.
Auctioneer’s Note
The living accommodation has been amended from its original layout which provided two, two-bedroom cottages. At present the staircase from the ground floor of 50 Monkton Street to the first floor has been blocked off providing additional bedroom accommodation for 51 Monkton Street. Subject to blocking off the connecting door at first floor level and re-opening the staircase the cottages could revert to their original layout.
The flooring at ground floor level in both properties is in very poor condition, particularly in the rear section of number 50. Viewers are requested to take appropriate care and view at their own risk.
Commercial
The former shop (unit 50 & 51 Monkton Street) stretches across the full width of the site and is arranged as its recently â€used’ layout as a convenience store with connecting door to the residential accommodation.
Residential - 50 Monkton Street
Ground Floor
Kitchen, living room and bathroom with W.C.
51 Monkton Street
Ground Floor
Kitchen, living room and inner hall.
First Floor
Four bedrooms and bathroom with W.C.
Outside
Gardens to the rear.
Local Planning Authority
Isle of Wight Council. Tel: 01983 823552. Website: iow.gov.uk.
Council Tax Band
Awaiting banding.
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
