Lot 23 Pair Of Flats For Investment Or OccupationAuction Date:
22nd March 2023
Flats 1 & 3 Madeira House, Madeira Road, Seaview, Isle of Wight, PO34 5BA
Madeira House is situated in the heart of Seaview, a popular and sought-after residential location to the east of the larger town of Ryde with its ferry and hovercraft connections. The two flats are a stark contrast, with the larger Flat 1 offering beautifully presented accommodation, while Flat 3, which is the smaller of the two units, requiring significant upgrading and refurbishment.
Flat 1 offers flexible living accommodation over two floors linked, via a spiral staircase. The living accommodation includes five bedrooms and a study subject to the requirements of the new owners. Alternatively, it is considered that Flat 1 may have potential to sub-divide the two-storey unit into two smaller flats, subject to all necessary consents being obtainable. Flat 3 requires a programme of upgrading and refurbishment but it is considered very worthy of the works required. The apartments are ideally suited to use by an occupier, perhaps as a weekend retreat, holiday home, or addition to an income producing letting portfolio.
Flat 1
Ground Floor
Kitchen / dining room, living room, inner hall, study, bathroom with W.C., two bedrooms one of which has an en-suite bathroom with W.C.
First Floor
Landing, three bedrooms, bathroom with W.C.
Council Tax Band D
Flat 3
Entrance hall, living room, kitchen, bedroom and bathroom with W.C.
Council Tax Band B
Local Planning Authority
Isle of Wight Council. Tel: 01983 823552. Website: iow.gov.uk.
Tenure
Both Flats are held on 999-year lease less 10 days from 6th June 1865 at a Ground Rent of £1 per annum.
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
