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31, 31A & 31B Pier Street, Ventnor, Isle of Wight, PO38 1SX

£45,000

Key features:

  • Available Post Auction
  • Auction Date : 02 NOVEMBER 2017
  • Lot Number : 142
  • Head Leasehold Interest - Town Centre Vacant Office/shop And Two Leasehold Flats
  • Mixed Commercial/Residential
  • Freehold
  • *Guide Price : £45,000 - £50,000 + Fees

Description

Situated in the centre of Ventnor's popular Victorian town centre, the ground floor of this three-storey building has previously served a number of retail/office requirements but is offered vacant for re-letting by the new owner. The upper parts comprise two flats which have been sold on a long leasehold basis.

The leases, both 125 years from 29th September 1995, provide for the head-leaseholder to collect a ground rental of £50 per flat, per annum. The head-leaseholder is also responsible for the insurance, maintenance and management of the building, recovering the costs from the leaseholders by way of a service charge.

Tenure
Held on a long leasehold basis for a term of 999 years from 29th July 1882 at a current ground rental of £22 per annum.

Auctioneer's Note
Section 5(b) Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.

Commercial EPC: E


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 the 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 www.cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

*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 www.cliveemson.co.uk/buyers-fees/


Price: £45,000
Bedrooms: 0


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Clive Emson Auctioneers
14 Victory Park Solent Way WhiteleyFareham PO15 7FN

Tel 01489 564606
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