A BUILDING housing the village Post Office in Totland Bay has sold at auction.

The mixed residential and commercial building went under the virtual auctioneer’s hammer in Clive Emson’s spring auction.

Egan House at Madeira Road was purchased freehold for £450,000 in the sale, which was held solely online due to the national lockdown.

Comprising five flats and the Post Office, the property is currently let at £33,080 per annum.

Rob Marchant, Clive Emson’s auctioneer on the Island, said: “We had keen interest in Egan House, with the virtual hammer coming down on a final deadline bid of £450,000.

“There is an adjoining commercial unit which requires completion, with scope for residential use, subject to planning permission.”

The sale of an access track and two parcels of land at Birchmore Lane, Blackwater, Newport, was postponed. The guide price was £12,000 to £14,000.

Clive Emson’s next online auction is Wednesday, June 17.

Entries for the sale close on Monday, May 18.