For investment - An exceptional opportunity to acquire a pair of period listed terraced houses, combined and configured as a licensed House of Multiple Occupation for 15 residents, offered for sale as a single lot.
Positioned on The Strand within a conservation area, this substantial property represents a ready-made income-producing asset in a consistently popular coastal setting, with the added appeal of strong underlying residential demand.
The Strand is one of the most recognisable and convenient positions in Ryde, moments from the seafront and seafront, and within easy reach of the town centre’s shops, cafés and amenities. Mainland connections are readily accessible via regular ferry and hovercraft services to Portsmouth, making the area particularly attractive to commuters and workers.
Arranged over three floors, the accommodation is currently set up to maximise rental return, comprising a communal kitchen, laundry room and living room, together with a three-bedroom flat configured as three individual letting rooms each with en-suite facilities, plus six further en-suite letting rooms.
The current income is approximately £99,000 per annum, reflecting a gross yield of around 16.5% per annum, making this an attractive proposition for investors seeking immediate cash flow.
Full tenancy details are available within the legal pack. Please note that at the time of release, the auctioneers and their agents have not fully inspected the property internally.
The combination of coastal lifestyle, transport links and local employment supports sustained tenant demand, underpinning the investment credentials of this asset.
Auction
To be sold by online auction (unconditional) on Tuesday 30th June 2026 with a 6 WEEK COMPLETION, bidding will open at 10.00.
Registration
All bidders/potential buyers are required to register ahead of the auction date to be able to bid/buy, please visit our website to setup an online auction account.
Tenure
Freehold sold subject to existing tenancies..
EPC rating
N/A- Listed building
Council tax band
C - Isle of Wight
Legal pack
For each lot there are Special Conditions of Sale and other documentation provided by the vendor's solicitors. If you wish to receive the Legal Pack, you will be able to register for this via the link on our website. You will receive notification by email once the Legal Pack is received from the solicitor. The documents may not tell you everything you need to know about the property and you are required to complete your own due diligence before bidding.
Additional fees
A buyers charge of £1,650 including VAT is payable on each lot that you buy, in addition to the sale price. Please be aware there may be other additional fees, including disbursements contained in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.
Deposit
If you are the highest bidder when the auction ends, contracts are exchanged between you and the seller. Both parties are legally bound to complete the transaction as per the special conditions in the legal pack. Your card will be automatically debited for the bidder security amount of £6,000 and we'll require the remaining balance for a 10% non-refundable deposit. We will contact you after the auction has finished to make these arrangements.
Pre-auction offers
These must be made in writing and will only be considered if the Legal Pack has been inspected and proof of funding has been supplied to the auctioneers. Pre-auction offers are only considered on an auction basis in accordance with the “Terms & Conditions - Unconditional Auction".
Mortgage finance
We advise all bidders who require a mortgage to confirm with their Financial Advisor as to whether or not the lot you are interested in would be suitable security to borrow finance against, prior to bidding. If you need to arrange a mortgage it is important that you obtain an offer from your lender before the day of the auction. Most building societies and banks will instruct a surveyor to prepare a valuation report before making a mortgage offer.
Please note
All plans are strictly for identification purposes only and should not be relied upon. Please refer to the legal pack for the Land Registry plan of each lot. Any plans are reproduced from Ordnance Survey maps with kind permission of the Controller of His Majesty's Stationery Office @ Crown copyright. All rights reserved, Licence no: 100020449.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.
Whether you’re looking to sell or let your property, we can provide you with a free, accurate valuation based on our expert knowledge and the latest trends in your local area.
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