A FREEHOLD block of 13 flats on the Isle of Wight is to be auctioned with a guide price of £750,000-plus.

Let at £67,080 per annum, Verdon House in Kent Avenue, East Cowes, is among 121 lots listed by Clive Emson Auctioneers across southern England in the firm’s June auction.

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Rob Marchant, the firm’s Isle of Wight auctioneer, said: “Verdon House was formerly part of a convent and is situated a short distance from the centre of East Cowes with its commercial centre and car ferry links to Southampton.

“Having undergone conversion works from its original use, Verdon House has, for many years, provided residential accommodation in the form of 13 apartments, 12 of which are let under the terms of Assured Shorthold Tenancies and are producing a very worthwhile rental income.”

Isle of Wight County Press: Flats 1-6 Kingswood, Coronation Road, Cowes, is in the June Clive Emson online sale, which ends on June 16.Flats 1-6 Kingswood, Coronation Road, Cowes, is in the June Clive Emson online sale, which ends on June 16.

Outside of the property there is a residents’ car park and communal gardens.

Video tour: https://www.cliveemson.co.uk/properties/234/11/

A freehold self-contained block of six two-bedroom apartments, let at £29,760 per annum, is guided at £470-500,000 and is located at Flats 1-6 Kingswood, Coronation Road, Cowes.

Rob said: “Five of the six flats are let under the terms of Assured Shorthold Tenancy Agreements and producing a very worthwhile income, while the sixth flat is at present vacant having recently undergone a programme of upgrading and refurbishment.

“There are communal gardens to the rear and the block is considered ideal for addition to an income-producing letting portfolio.”

Chinneck Shaw are joint auctioneers for both properties.

Video tour: https://www.cliveemson.co.uk/properties/234/22/

Let at £5,700 per annum, a ground-floor, purpose-built flat with one bedroom at 3, Strawberry Heights, Union Road, Ryde, is guided at £60-65,000.

There is a 125-year lease from 2008 and joint auctioneers are Fox & Home.

Currently let at £25,000 per annum, a freehold mixed property investment at 102 High Street, Newport, is guided at £230-250,000-plus.

Rob said: “The ground floor commercial space is occupied by a well-known and Island-wide family-run bakery chain Grace’s, with six outlets.

“Above, the two flats are occupied under Assured Shorthold Tenancy agreements — the building is considered ideal for an income-producing portfolio.”

Joint auctioneers are Scotcher & Co.

A one-bedroom, split-level flat at 2, 122 St. James Street, Newport, is guided at £80,000-plus and is on a 999-year lease. The property is let at £80,000-plus and is said to be “in good order, with a full refurbishment having been carried out in 2018.”

Clive Emson’s auction timers end on Thursday, June 16, with the online bidding live two days beforehand.

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