Pyle Street, NEWPORT

SUMMARY
AUCTION SALE 24 June 2025 - Long leasehold first and second floors arranged as three self-contained flats
Town centre location
Investment - Rent reserved: £27,600 per annum
By order of the LPA Receivers.


DESCRIPTION
Long leasehold first and second floors arranged as three self-contained flats
Town centre location
Investment - Rent reserved: £27,600 per annum
By order of the LPA Receivers.

Location:
The three flats are situated within the Town Centre on Pyle Street between its junctions with St James Street and New Street. Public transport links include a network of local bus services serving the surrounding vicinity with Ryde Hovertravel and Wightlink services connecting to the mainland and Cowes ferry links. An extensive range of shopping amenities, cafes, bars and restaurants can be found locally within Newport. Recreational pursuits can be found locally at the open spaces of Seaclose Park, Medina Riverside Park, River Medina and along the coast front.

Accommodation:
The auctioneers were unable to inspect the property at the time of going to print although believe it comprises the following accommodation: Prospective purchasers must rely on their own enquires in this respect.

Flat: 1
Floor: First
Accomodation: One bedroom with en-suite shower room/WC, open plan reception room/kitchen, entrance hall)
EPC Rating: E (22 Sq.M)
Council Tax: A
Tenancy: The property is let on an assured shorthold tenancy agreement (AST) for a term of 12 months from 03/08/2024
Rent: £600 pcm

Flat: 2
Floor: First
Accomodation: Two bedrooms, shower room/WC, open plan reception room/kitchen, entrance hall
EPC Rating: E (41 Sq.M)
Council Tax: A
Tenancy: The property is let on an assured shorthold tenancy agreement (AST) for a term of 6 months from 13/02/2024
Rent: £800 pcm

Flat: 3
Floor: First and Second
Accomodation: First floor: One bedroom, shower room/EC, open plan reception room/kitchen, entrance hall
Second floor: Two bedrooms, shower room/WC
EPC Rating: E (75 Sq.M)
Council Tax: A
Tenancy: The property is let on an assured shorthold tenancy agreement (AST) for a term of 12 months from 16/02/2024
Rent: £900 pcm

Description:
Three self-contained flats arranged over first and second floors within the Town Centre.

Rent reserved: £27,600 per annum

Lease:
Held on a long lease for a term of 150 years from and including 25th June 2018 (Thus having approximately 143 years remaining)






Important Notice:
For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.
The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.
Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.
When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.
1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.



1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.