Investment Opportunity for Auction Isle Of Wight PO33 UNSOLD, CONTACT AUCTIONEER FOR RESERVE PRICE/AVAILABILITY STATUS

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Auction date: Wed, 24/07/2024 - 10:00

Guide Price £350,000 - £400,000. Enjoying a stunning location on the seafront this property has had a varied history. In more recent years, the upper two floors have been converted into stunning apartments enjoying wonderful views. The lower two floors were last in use as a call centre but have been vacant for some years. Previous, though now lapsed, planning permissions were achieved conversion of the ground floors with both residential and commercial options and usage. The freehold is to be offered, with the first floor and penthouse level apartments sold on a long leasehold basis, paying a combined ground rental of £200 per annum and contributing to the management and maintenance of the building. The building is now offered for sale with scope and potential to bring the lower two floors back into meaningful use.

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