Residential redevelopment Potential, Subject to Consents
Situated in mixed Residential and Commercial Street
Grade II Listed - Exempt from Vacant Business Rates
Large Car Park at the Rear.
Nearby occupiers include, B&M, McDonalds, TK Maxx, Newport Fire Station, Isle of Wight Council and a range of local businesses and cafe's
Lot 39
Auction 15th May 2025
Vacant Possession
Status Available
Guide* £150,000 - £175,000
Sector Office, Medical Centre/Doctors, Vacant
Auction Venue Live Streamed Auction
Property Information
Location
Miles
5 miles south of Cowes, 15 miles south-west of Portsmouth
Roads
A3, A3054, M27, M275
Rail
Ryde Esplanade, Ryde St Johns Road
Air
Isle of Wight Airport, Southampton Airport
Situation
Pyle Street is situated in the heart of Newport town centre running parallel with High Street, which is some 50 metres to the north. The property is situated on the south side of Pyle Street, some 50 metres east of its junction with Town Lane. Pyle Street has a mixed residential and Commercial occupiers with nearby occupiers include, B&M, McDonalds, TK Maxx, Newport Fire Station, Isle of Wight Council and a range of local businesses and cafe's.
Tenure
Freehold.
Location
Miles
5 miles south of Cowes, 15 miles south-west of Portsmouth
Roads
A3, A3054, M27, M275
Rail
Ryde Esplanade, Ryde St Johns Road
Air
Isle of Wight Airport, Southampton Airport
Situation
Pyle Street is situated in the heart of Newport town centre running parallel with High Street, which is some 50 metres to the north. The property is situated on the south side of Pyle Street, some 50 metres east of its junction with Town Lane. Pyle Street has a mixed residential and Commercial occupiers with nearby occupiers include, B&M, McDonalds, TK Maxx, Newport Fire Station, Isle of Wight Council and a range of local businesses and cafe's.
Tenure
Freehold.
Description
The property comprises a handsome Grade 2 listed office building that may be suitable for conversion to residential, subject to obtaining the necessary consents. The property benefits from a substantial car park at the rear that is accessed via South Street.
VAT
VAT is applicable to this lot.
EPC
D
Description
The property comprises a handsome Grade 2 listed office building that may be suitable for conversion to residential, subject to obtaining the necessary consents. The property benefits from a substantial car park at the rear that is accessed via South Street.
VAT
VAT is applicable to this lot.
EPC
D
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Possession
Ground First Second
Office Office Ancillary
174.50 135.60 65.50
(1,878) (1,460) (705)
VACANT POSSESSION
Total Approximate Floor Area
375.60(1)
(4,043) (1)
(1) The floor areas stated above are those published by the Valuation Office Agency (https://www.tax.service.gov.uk/business-rates-find/valuations/start/80699178)
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
