The landmark location at 22 Pier Street, Ventnor is among 131 lots being sold online by Clive Emson, the regional land and property auctioneers.
Guided at £480-520,000, the freehold location comes with planning consent which includes 6 car parking spaces.
Rob Marchant, Clive Emson’s Island auctioneer, said:
“Empty for some years, the bus garage site now has planning consent to be demolished and replaced with an attractive scheme comprising 2 retail units and 10x 2-bedroom flats over 3 storeys.”
Other property and land on the Island are also being auctioned…
A 1-bedroom first-floor flat at Flat 3, 42 George Street, Ryde is guided at £55-60,000; the 999-year lease dates from 1846.
Currently, let at £6,900 per annum, a 2-bedroom second floor flat at 27F Holyrood Street, Newport, is guided at £85-95,000, the property has a 999-year lease from 2009.
Freehold, a 3-storey town centre building in Newport is guided at £90-100,000. The ground floor of the property at 59 High Street was most recently used as an estate agency office, with 1-bed living accommodation above.
With views over the English Channel, a 0.21-acre site called the Ramblers has a freehold guide price of £100,000+ and is located at Bonchurch Shute, Ventnor.
Timers end on Wednesday 16th December for Clive Emson’s December online auction.