Seven Isle of Wight properties sold at auction in June

The freehold investment at West Point, 1 Vernon Square, Ryde, was among 150 lots listed across southern England by Clive Emson Auctioneers in the firm’s June online auction, which concluded on Wednesday.

The seven apartments generate a collective annual rent of £63,120.

Rob Marchant, the Island auctioneer, said: "The final bid came in at £695,000, giving a gross rental yield of just over nine per cent based on sale price and rental income."

Converted in the early 1990s, the property comprises four two-bedroom apartments and three one-bedroom apartments, with car parking spaces available at the front and side of the building.

Lot 142, Silver Retreat, Ash Grove, Luccombe, Shanklin, Isle of Wight. (Image: Clive Emson)

Elsewhere at the auction, a four-bedroom detached bungalow, Silver Retreat, Ash Grove, Luccombe, Shanklin, attracted a bidding war despite being listed as having structural damage.

The freehold property, which boasts sea views and almost 2.5 acres of land, received 63 bids, the final offer coming in at £235,000 — £85,000 above the guide price.

Lot 82, Cuddles Corner, Roud, Ventnor, Isle of Wight. (Image: Clive Emson)

A one-bedroom flat on the upper ground floor of Lynwood House, 52 West Hill Road, Ryde, sold for £81,000.

The property, with an 850-year lease from 2008, received 19 bids and sold for £21,000 above the guide price.

Lot 102, 20 Caesars Road, Newport, Isle of Wight. (Image: Clive Emson)

Cuddles Corner in Roud, Ventnor, which consists of freehold land and two barns with consent for residential conversion, was bought for £110,000.

A freehold two-bedroom house at 20 Caesars Road, Newport, let at £11,460 per annum, sold for £127,000, and a freehold house at 33 Carisbrooke High Street, currently let at £8,100 per annum, fetched £90,000.

Lot 146, 33 Carisbrooke High Street, Newport, Isle of Wight. (Image: Clive Emson)

Similarly, a two-bedroom freehold house at 44 Fort Street, Sandown, sold for £150,000.

Clive Emson Auctioneers’ next online auction, the fifth of eight this year, will conclude on July 23, with bidding open 48 hours prior.

Lot entries close on June 29, with the catalogue available online from July 2.

Lot 130, 44 Fort Street, Sandown, Isle of Wight. (Image: Clive Emson)