Development Site for sale in Shanklin

AUCTION PROPERTY The Roseglen traded for many years as a successful hotel in this popular seaside town on the east coast of the Isle of Wight.

As the demand for hotel rooms has lessened in recent years, the Roseglen has now been reconfigured to include a six-bedroom HMO on the first floor. We are advised that planning consent has not been obtained for this conversion but that an HMO licence has been issued by the Local Authority, following works requested by the Council to include a new fire alarm system and fire doors. Prospective purchasers may wish to pursue planning consent to the existing HMO arrangements. It is considered that further scope exists for additional conversion works on the lower ground and ground floor, subject to all necessary consents being obtainable.

The lower ground floor is, at present, configured as two one-bedroom flats and a bedsit which had previously been let which are presently vacant.

Lower Ground Floor
Configured as two one-bedroom flats and a bedsit and a range of former bedrooms and store rooms not used since the hotel ceased trading.

Ground Floor
At present in use as owner's accommodation including entrance hall, living room, dining room, kitchen, four bedrooms (all with en-suite shower rooms with W.C.s).

First Floor
Landing and six bedrooms which are all let under the terms of Assured Shorthold Tenancy Agreements.

Tenancies

Room 5
Currently vacant but previously let at 140 per week.

Room 8
Let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of 160 per week.

Room 9
Let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of 140 per week.

Room 10
Let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of 140 per week.

Room 12
Let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of 140 per week.

Room 14
Let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of 140 per week.

Outside
Patio terrace to the front and garden to the rear.

Planning
A Lawful Development Certificate was refused by Isle of Wight Council under ref: 23/00228/CLEUD, dated 3rd April 2023, for continued use as hotel and part House in Multiple Occupation.



Auctioneer's Note
An HMO Licence for six letting rooms has been granted by the Local Authority and will be included in the legal pack, available to download from the Clive Emson website.

EPC Rating
C (75). Total Floor Area 629 sq.m.

Council Tax Band A

Commercial EPC: C

Important:
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.

Price Information
*Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at www.cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

*An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to www.cliveemson.co.uk/buyers-fees/