Auction sale of former Brading Waxworks - here's how much it made

The Isle of Wight's former Brading Waxworks building, Rectory Mansion, has sold at auction for £185,000.

46-48 Brading High Street was included in a sale run by Clive Emson Auctioneers.

There is planning permission for its partial conversion into housing, while existing businesses pay rent and further retail units can be let.

Auctioneer, Rob Marchant, said: "Rectory Mansion is currently let at £27,126 per annum, with three units empty.

"The property is producing a healthy commercial income, with an impressive gross yield of 14.6 per cent, based on the purchase price and current rental income."

The new owner could choose to convert the building's upper two floors into housing.

Joint auctioneers at the sale were Scotcher & Co.