Lot 171 Freehold Block Comprising Four Two-bedroom Flats For InvestmentAuction Date:
12th June 2024
St. Georges Hall, George Street, Sandown, Isle Of Wight, PO36 8JB
St George's Hall is believed to have started life as a church hall before taking on a new life as a labour exchange before being converted into four self-contained two bedroom flats. The flats have been let to a Housing Association for approximately 20 years. The Housing Association has an obligation to restore the décor, fixtures and fittings in each flat and these works are ongoing.
At the time of publication, three of the four flats are vacant while the fourth flat is due to be vacated prior to the auction and the Housing Association have undertaken to complete the remedial works prior to the proposed auction completion.
It is considered the flats would be an ideal addition to an income producing letting portfolio.
Accommodation
Each flat comprises an entrance hall, living room/kitchen, two bedrooms and shower room with W.C.
Auctioneer's Note
Flats A, C and D are vacant. Flat B is occupied via Vectis Housing Association and the tenant is due to vacate on 10th June 2024.
Each Flat
Council Tax Band A
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
