Lot 108 Town Centre Freehold Building Comprising Two Commercial Units And A Large Maisonette On A Plot With Further PotentialAuction Date:
8th February 2023
Shirley House, Avenue Road, Freshwater, Isle of Wight, PO40 9UR
Currently partially let at £5,000 per annum with a further commercial unit and large maisonette (unoccupied)
Freshwater is a popular residential and tourist location at the western end of the Isle of Wight, a short distance from The Needles and from the Yarmouth car ferry terminal. Shirley House occupies a dominant trading location in the town centre, at the end of Avenue Road.
The building comprises two road-facing commercial units at the front on the ground floor, one of which is let to the island's best known estate agency chain, while a smaller unit, previously in use as a hairdressing salon is at present vacant. The ground floor rear and first floor are occupied by a substantial residential unit which requires upgrading and refurbishment. With accommodation stretching to five-bedrooms, prospective purchasers may wish to consider splitting the existing residential accommodation into two smaller units, subject to all necessary consents being obtainable.
Shirley House has the advantage of vehicular access to the side, leading to a parking area and a plot to the rear, which may also have scope and potential for development, again subject to all necessary consents being obtainable.
Site Measurements
The site extends to 0.06 hectares (0.15 acres).
Local Planning Authority
Isle of Wight Council. Tel: 01983 823552. Website: iow.gov.uk.
Ground Floor
Commercial Unit 1
Main office/retail space, meeting room/office, staff kitchen and cloakroom/W.C.
Tenancy
Let under the terms of a commercial lease for a period of five years, from 10th August 2022, at a current rental of £5,000 per annum.
Commercial Unit 2
Retail/trading space, small store and kitchen with W.C. At present vacant.
Residential
Living room, dining room, kitchen/breakfast room and shower room with W.C.
First Floor
Landing, five bedrooms, bathroom with W.C. and cloakroom with W.C.
Tax Band B
Outside
Driveway/parking to the side and gardens to the rear.
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
