CHATEAU COTTAGE TO WATERFRONT TOWNHOUSES – ISLAND PROPERTIES GO TO AUCTION – Island Echo

A semi-detached cottage near Carisbrooke Castle is set to go under the hammer with an indicative price of £90,000+ at Clive Emson’s latest auction.

The one bedroom freehold residence at 80 Carisbrooke High Street is one of 110 plots and plots listed in the South of England by Clive Emson Auctioneers.

Enterprise Island Auctioneer Rob Marchant said:

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“The chalet is in need of improvement and would be ideal for owner occupation or as an addition to an income generating rental portfolio.”

On a 999 year from 2020 is a 1 bedroom apartment at 16 Osborne Court, The Parade in Cowes. Guide price: £110,000-120,000.

Rob said:

“Situated on the second floor of Osborne Court, the residence offers stunning views of the Solent. The apartment, with a balcony, is in good condition and is considered ideal for owner occupation or rental.

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Currently rented at £25,400 a year, a freehold mixed-use property investment at 102 High Street, Newport is guided at £250,000+.

Rob said:

“The commercial space on the ground floor is occupied by a well-known Island-wide family bakery chain with six outlets.

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‘The apartments above are occupied under assured short-term rental arrangements – the building is considered ideal for an income-generating portfolio.’

“At £250,000, based on the current rental income from the store and apartments, the gross rental yield is 10.16%, which is a good return compared to the return on interest of around 1% you would get with cash savings. High inflation also means that cash loses money in real terms.

A seafront development site, with planning permission for 4 townhouses, is being guided in freehold between £650,000 and £700,000. Beachlands, Esplanade, Ventnor, which was once a large family home and is now in ‘shabby condition’, has views of the beach and the English Channel beyond.

Clive Emson’s auction timers end Thursday, May 5, with live online bidding 2 days early.

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