A Delegated Decision Report has been published for the sale of Church View, Ventnor.
The report reveals that the property is being disposed off for the sum of £310,000 – the highest offer received following a full marketing exercise.
The property is the former home of a daycare centre for people with mental health issues. Readers may remember the VB report and podcast from May 2010 when we popped down for the open day. Unfortunately this service was closed in September 2011.
Another part of the building is leased to Isle of Wight Healthcare NHS Trust which brings some issues, as detailed below.
Isle of Wight Healthcare NHS Trust is currently “holding-over” on a 15-year lease at a peppercorn rent. “Holding-over” is a term commonly used to describe a situation where a lease has expired but the tenant remains in occupation on the same terms, as in the period of the lease, and is protected by the Landlord & Tenant Act 1954.
A s25 notice, terminating the ‘current lease’, has been served under the Landlord & Tenant Act 1954 quoting terms for a new lease at a rent of £16,500 per annum. Negotiations around the new lease may be protracted and in view of the fact that the vacant parts of the property are incurring ongoing expenditure, whilst also being
potentially susceptible to vandalism, it was decided to commence the sale of the building
whilst lease renewal negotiations were on-going.
Planning consent for conversion
The property, which has planning consent for conversion of the upper floors to two apartments, had strong interest from potential buyers. The offer of £310,000 from an applicant with the funds readily available has been recommended for acceptance.
A decision will be made by the Cabinet member, Cllr George Brown, after 1 August 2012.
