Once a ‘large family home’, a partially demolished seaside property on the Isle of Wight is to be auctioned.
Beachlands at Esplanade, Ventnor, is guided freehold at over £750,000 by regional land and property auctioneers Clive Emson.
Rob Marchant, auctioneer for Clive Emson on the Isle of Wight, said: “This is a rare opportunity to purchase a beachfront development site with the planning for four townhouses.
“Beachlands, the aptly named, is located at the eastern end of Ventnor’s pretty and popular seafront and has splendid views of the beach and the English Channel beyond.
“Once a large family home, Beachlands is in poor condition and has indeed been partially demolished (at the rear) and the site now has planning permission for four attractive townhouses in its place.
“The new accommodation will be very much in line with other new developments that have taken place along the Esplanade in recent times as it gradually becomes more attractive and reinvigorated.”
A total of 132 lots in the south of England and Wales are listed with land and estate auctioneers Clive Emson.
Bidding for the auction opens Monday, March 21 and ends Wednesday, March 23.
There are also four other Isle of Wight lots.
One is the main leasehold ground rent, with commercial income, at 2 and 4 Pier Road and 4 High Street, Seaview. Currently let at £8,480 per annum, guide price is £90,000+.
The “imposing” corner building houses two commercial premises, both rented, and two apartments have been sold in emphyteusis.
Guided freehold at £240-260,000 is a redevelopment opportunity in Newport. The building at 64 and 65 Pyle Street, Newport, was previously occupied by an Isle of Wight meat wholesaler and as such is configured to include large ground floor fridges and freezers with a additional garage and storage for vehicles.
On the first floor there are offices and storage rooms at the front and rear elevations.
Rob said: ‘Although there is potential for continued commercial use, the site is considered to have great scope and potential for redevelopment, either by conversion or potentially by demolition and redevelopment of the whole site. to include a residential element, subject to any necessary consents that may be obtained.
“It should be noted that many of the buildings facing Scarrots Lane have already been converted or redeveloped.”
Guided at £125-135,000, a historic former NatWest bank at 19 High Street, Shanklin, has since been modernized and refurbished.
Rob said: ‘Three vacant floors offer scope and potential for a wide range of future commercial uses, subject to all necessary consents being obtained.
“Alternatively, the first floor accommodation is considered to have scope and potential for residential conversion, again subject to all necessary consents being obtained.”
The lease is for the remainder of an 873-year lease, commencing October 5, 1874, at pepper ground rent.
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Finally, the lease is a two-bedroom maisonette is guided at £150-160,000, which is located at 5A Market Street, Ventnor, with off-street parking.
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