Lot 144 Freehold Town Centre Investment Comprising A Shop And Three FlatsAuction Date:
20th March 2024
2 Clarence Buildings, Avenue Road, Freshwater, Isle Of Wight, PO40 9UU
This three storey freehold town centre building situated in the heart of Freshwater has the advantage of a potential vehicular access via Tennyson Road.
The building at present is arranged as a small lock-up shop unit to the front which requires upgrading and refurbishment. To the rear on the ground floor is a small residential flat, while on the first floor there is a larger residential flat which has been sold off under the terms of a long leasehold arrangement. On the second floor there is a vacant two-bedroom flat which is considered ideal for an income producing letting portfolio.
The garden to the rear which opens onto Tennyson Road may offer scope and potential for off-road parking, garaging, or perhaps even a small residential dwelling, subject to all necessary consents being obtainable.
Auctioneer’s Note
The address of the lot, (as shown above), matches that held on the Land Registry Office Entries. We are, however, aware that the property is also referred to locally and on occasion by the Isle of Wight Council as Walmer House.
Ground Floor Front
Commercial
Small lock-up shop.
Ground Floor Rear
Residential
Kitchen, bedroom/living room, conservatory, shower room and cloakroom with W.C.
Council Tax Band A
First Floor Flat - Tenure
The freehold title includes the first floor flat registered on Land Registry as 1 Walmer House which is sold under the terms of a long lease for a term of 199 years from 1st January 2012.
Second Floor Flat
Landing, kitchen/dining room, living room, two bedrooms and shower room with W.C.
Council Tax Band B
Outside
Garden to the rear fronting Tennyson Road.
Local Planning Authority
Isle of Wight Council. Tel: 01983 823552. Website: iow.gov.uk.
There is an addendum available to be read
in conjunction with the legal documentation.
Joint Agents
Coates Property & Financial Solutions
01983 666876
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
