Property for sale in Madeira Road, Totland Bay

Property - £450,000

Madeira Road, Totland Bay

First listed on: 08th April 2020

Nearest stations: Chichester (4.8 mi)Lymington Town (5.5 mi)Lymington Pier (5.7 mi)New Milton (7.2 mi)Sway (7.7 mi)

Interested in this property? Call See phone number 01983 521144

Property Description

Location Situated in the Village of Totland is this large semi detached property. Totland is a village located to the West of the Island and has a population circa 2900 (2011 census). The village offers a convenience store, a selection of boutique shops and beautiful beaches at Totland Bay.

The neighbouring town of Freshwater is a 5 minute drive and offers further shopping amenities with multi nationals and local vendors alike.

The popular coastal town of Yarmouth is only 3 miles distant and has the Wightlink port offering ferries to the mainland via Lymington together with a large marina with berthing facilities.  

Description Offered for sale is Egan House, a large corner property with tenancies in place.

The property, previously a public house, was granted planning permission in August 2015 for conversion of the premises to residential accommodation for 4 x apartments to the first and second floors, a ground floor apartment plus 2 commercial units.

The 4 x apartments to the first and second floors (2 x 1 beds and 2 x 2 beds) have been converted to a very high standard, 1 x ground floor commercial unit is currently trading as the post office and 1 x commercial unit and the ground floor apartment are yet to be finished.  

Accommodation as follows:  

Ground Floor Commercial unit 1 - currently trading as the Post Office. There will be a new lease issued at an income of £3,600pa. this space offers circa 22 sq meters (236 sq ft).

Commercial Unit 2 - This commercial unit is still to be separated from the property behind but planning permission allows for conversion offering approximately 22 sq m (236 sq ft) overall.

Apartment 5 - Awaiting conversion to a 1 bedroom apartment with open plan living room kitchen with private courtyard garden. Approximate sizes as follows - Living Room/Kitchen 16'6" x 15' (5m x 4.5m), Bedroom 16' x 9'9" (4.8m x 2.9m), Shower Room.  

First Floor Apartment 1 - Living Room/Kitchen 14'9" x 16'1" (4.5m x 4.9m), Bedroom 16'1" x 9'10" (4.9m x 3m), Bathroom.

Apartment 2 - Living Room/Kitchen 16'1" x 16'2" (4.91m x 4.93m), Bedroom 1 16'2" x 9'9") 4.93m x 2.96m), Bedroom 2 11'10" x 6' (3.6m x 1.8m), Bathroom. 

Second Floor Apartment 3 Living Room/Kitchen 16'2" x 16'1" (4.93m x 4.91m), Bedroom 1 16'2" x 9'9" (4.93m x 4.91m), Bedroom 2 11'10" x 6' (3.6m x 1.8m), Bathroom.

Apartment 4 Living Room/Kitchen 16'1" x 15'4" (4.98m x 4.6m), Bedroom 16'4" x 10'3" (4.9m x 3.1m), Bathroom.

There is a lovely bright communal hallway serving all residential areas, the hallway houses a storage cupboard and water meters.  

Services The property has electric, water and drainage.  

Planning Permission Planning permission was granted in August 2015 under application reference P/00529/15 - TCP/02230/F for the conversion to residential and commercial to the ground floors and August 2017 TCP/02230/G, P/00397/17 for further changes to the ground floor. Copies can be viewed at iwight.com.  

Council Tax & Business Rates The rateable value for the occupied ground floor unit is £1,850, rates payable would be circa £940, this figure would be eligible for small business rates relief.

Each occupied apartment is rated for council tax, currently Band A.

Please contact Clive Emson auctioneers for further information regarding the auction and legal pack 01489 564606.  
Location Situated in the Village of Totland is this large semi detached property. Totland is a village located to the West of the Island and has a population circa 2900 (2011 census). The village offers a convenience store, a selection of boutique shops and beautiful beaches at Totland Bay.

The neighbouring town of Freshwater is a 5 minute drive and offers further shopping amenities with multi nationals and local vendors alike.

The popular coastal town of Yarmouth is only 3 miles distant and has the Wightlink port offering ferries to the mainland via Lymington together with a large marina with berthing facilities.  

Description Offered for sale is Egan House, a large corner property with tenancies in place.

The property, previously a public house, was granted planning permission in August 2015 for conversion of the premises to residential accommodation for 4 x apartments to the first and second floors, a ground floor apartment plus 2 commercial units.

The 4 x apartments to the first and second floors (2 x 1 beds and 2 x 2 beds) have been converted to a very high standard, 1 x ground floor commercial unit is currently trading as the post office and 1 x commercial unit and the ground floor apartment are yet to be finished.  

Accommodation as follows:  

Ground Floor Commercial unit 1 - currently trading as the Post Office. There will be a new lease issued at an income of £3,600pa. this space offers circa 22 sq meters (236 sq ft).

Commercial Unit 2 - This commercial unit is still to be separated from the property behind but planning permission allows for conversion offering approximately 22 sq m (236 sq ft) overall.

Apartment 5 - Awaiting conversion to a 1 bedroom apartment with open plan living room kitchen with private courtyard garden. Approximate sizes as follows - Living Room/Kitchen 16'6" x 15' (5m x 4.5m), Bedroom 16' x 9'9" (4.8m x 2.9m), Shower Room.  

First Floor Apartment 1 - Living Room/Kitchen 14'9" x 16'1" (4.5m x 4.9m), Bedroom 16'1" x 9'10" (4.9m x 3m), Bathroom.

Apartment 2 - Living Room/Kitchen 16'1" x 16'2" (4.91m x 4.93m), Bedroom 1 16'2" x 9'9") 4.93m x 2.96m), Bedroom 2 11'10" x 6' (3.6m x 1.8m), Bathroom. 

Second Floor Apartment 3 Living Room/Kitchen 16'2" x 16'1" (4.93m x 4.91m), Bedroom 1 16'2" x 9'9" (4.93m x 4.91m), Bedroom 2 11'10" x 6' (3.6m x 1.8m), Bathroom.

Apartment 4 Living Room/Kitchen 16'1" x 15'4" (4.98m x 4.6m), Bedroom 16'4" x 10'3" (4.9m x 3.1m), Bathroom.

There is a lovely bright communal hallway serving all residential areas, the hallway houses a storage cupboard and water meters.  

Services The property has electric, water and drainage.  

Planning Permission Planning permission was granted in August 2015 under application reference P/00529/15 - TCP/02230/F for the conversion to residential and commercial to the ground floors and August 2017 TCP/02230/G, P/00397/17 for further changes to the ground floor. Copies can be viewed at iwight.com.  

Council Tax & Business Rates The rateable value for the occupied ground floor unit is £1,850, rates payable would be circa £940, this figure would be eligible for small business rates relief.

Each occupied apartment is rated for council tax, currently Band A.

Please contact Clive Emson auctioneers for further information regarding the auction and legal pack 01489 564606.  
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Date History Details
09/04/2020 Property listed at £450,000

Disclaimer

Disclaimer Property reference 12497_101276035416. Details are provided and maintained by Hose Rhodes Dickson. Nethouseprices.com makes no warranty as to the accuracy or completeness of aforementioned details.

This property is marketed by

The Estate Office, 138 High Street

Newport

Isle of Wight

PO30 1TY

Telephone: See phone number 01983 521144

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Disclaimer

Disclaimer Property reference 12497_101276035416. Details are provided and maintained by Hose Rhodes Dickson. Nethouseprices.com makes no warranty as to the accuracy or completeness of aforementioned details.

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This property is marketed by

The Estate Office, 138 High Street

Newport

Isle of Wight

PO30 1TY

Telephone: See phone number 01983 521144

Arrange Viewing Arrange Viewing with Agent Check Affordability Check Affordability

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