Lot 113 2,300 Sq. Ft. Freehold Vacant Town Centre Commercial UnitAuction Date:
1st November 2024
55 High Street, Sandown, Isle Of Wight, PO36 8DF
Previously let at £17,000 per annum
Situated in the popular seaside town of Sandown and occupying a prime High Street location, this vacant commercial unit measuring 213 sq.m. (2,300 sq.ft.) was last in use as a bookmakers premises. Ideally suited to a number of future commercial uses, the commercial space is now offered vacant.
On the upper floors there are two residential flats, each having been sold under the terms of a long lease, and which contribute to the management and maintenance of the building via a service charge.
Accommodation
Double-fronted retail space fronting the High Street, largely open plan, with ladies and gents customer toilets and separate staff amenity area and staff cloakrooms with W.C.s.
Tenure
First Floor Flat
Held under the terms of a 125-year lease from 21st December 1990 at a current ground rent of £200 per annum.
Second Floor Flat
Held under the terms of a 125-year lease from 21st December 1990 at a current ground rent of £200 per annum.
Local Planning Authority
Isle of Wight Council. Tel: 01983 823552. Website: iow.gov.uk.
EPC Information
The property has an EPC rating of C (57).
Auctioneer's Note
The reference previously made to a lease of a ground floor flat has now been removed from the Title. The Seller can confirm there is no Ground Floor flat.
The current ground rentals in respect of The Ground and First Floor are £200 per annum and the lease term for each is 125 years from 29th September 1990, and not as stated.
There is an addendum available to be read
in conjunction with the legal documentation.
Joint Agents
Cedar Harp Ltd
0208 457 6576
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
