Lot 143 First Floor Flat For InvestmentAuction Date:
11th December 2025
Flat 4, 59 Newport Road, Lake, Isle Of Wight, PO36 9LP
Currently let at £10,200 per annum
Situated in the popular settlement of Lake, between the larger towns of Sandown and Shanklin, this leasehold two-bedroom first floor flat is let and producing a healthy income and is considered ideal for addition to a lettings portfolio.
Accommodation
Entrance hall, living room, kitchen, two bedrooms and bathroom with W.C.
Outside
Communal gardens and parking.
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of £850 per calendar month.
Tenure
Remainder of a 999-year lease from 28th March 2023. Further details will be included in the legal documentation, available to download from the Clive Emson website. A share of the freehold is also included in the sale.
EPC Rating C
Council Tax Band A
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
