Wootton property goes for over £121,000 above guide price in Emson online auction

The Brannons, Wootton Bridge, Isle of Wight, which was sold for £121,000 more than its guide price at the September Clive Emson auction.
The Brannons, Wootton Bridge, Isle of Wight, which was sold for £121,000 more than its guide price at the September Clive Emson auction.

A property arranged as five residential dwellings at Wootton Bridge on the Isle of Wight has been sold in auction for £401,105 in a bidding war this week.

Located on 0.6 acres of land, The Brannons at Station Road (main image, top) attracted 75 bids and went for £121,105 more than the freehold guide price of £280,000.

The building was among 163 lots across southern England listed by Clive Emson Auctioneers in its online September auction, which ended on Wednesday.

Rob Marchant, Clive Emson’s Isle of Wight auctioneer, said: “There was keen interest, given the size of the property and potential, with three of the dwellings generating £21,480 per annum and two vacant. We are not privy to any plans the new owner may or may not have for The Brannons.”

24 and 26 Carisbrooke Road, Newport, was also sold for much more than its guide price at the Clive Emson Auctioneers September sale.

Currently let at £42,460 per annum, a mixed freehold investment of four flats and two commercial offices at 24 and 26 Carisbrooke Road, Newport, went for £504,000 in another bidding war.

Rob said: “The 61 bids reflected keen interest from property investors, with the building going for £104,000 above the guide price. This equates to a respectable gross yield of 8.4% before annual costs.”

Re-available properties are:

  • A freehold investment at 144A High Street, Newport, which had a guide price of £480-520,000 and comprises four two-bedroom apartments and one one-bedroom apartment, with a small courtyard garden to the rear.

  • Two cottages and a former convenience store at 50 and 51 Monkton Street, Ryde, which were guided freehold at £170,000 to £190,000.

  • A town centre bar, with two flats, which had a guide price of £280-300,000. Freehold, the building is at 46 High Street, Ventnor.

Also in the auction was a three-storey freehold house “for improvement”, with an attached two-storey workshop, at 12 Arctic Road, Cowes. The guide price was £220-240,000.

A two-storey, three-bedroom flat at 5 and 7 Wydford House, 23 Bellevue Road, Ryde, had a leasehold guide price of £225,000-plus.

With planning permission for conversion, a freehold town centre shop and upper parts at 51 High Street, Newport, had a guide price of £300-330,000.

The next auction by Clive Emson Auctioneers - the seventh of eight this year - ends on November 2. Lot entries close on October 10, with the catalogue available from October 14.

See: cliveemson.co.uk for more details.

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