An historic Isle of Wight building has swiftly been sold again at auction after a previous sale of the property caused a huge financial loss to Ryde taxpayers.
The Grade II listed Vectis Hall on Melville Street in Ryde has been picked up for £43,500 after being marketed through Barnard Marcus.
Sold by Ryde Town Council
It previously went under the hammer for £30,150 at the end of September – after being purchased by Ryde Town Council for £125,000 in 2020.
A building with a long history
Built in 1812, the building was Ryde’s first free school and has also been used as a community hall.
Dance scenes from the 1973 classic British film That’ll Be the Day starring Ringo Starr and David Essex were filmed in the property.
Reaction from Ryde Town Council
Reacting to the first sale of Vectis Hall back in September, Ryde mayor Karen Lucioni said,
“We are delighted that somebody has stepped forward to give Vectis Hall a future.
“It was important that Ryde Town Council (RTC) removed it as a liability from our portfolio and now we trust that the new owners will be able to secure the type of funding that we were unable to source.”
However, the new owners sold it on within weeks.
RTC clerk Lisa Dyer previously said the town council was concerned the historic building was now a ‘liability’, adding it was probably one of the things that ‘keeps me awake at night’.
Barnard Marcus has said the site could hold potential for development, subject to consent.
This article is from the BBC’s LDRS (Local Democracy Reporter Service) scheme, which News OnTheWight is taking part in. Some alterations and additions may have been made by OnTheWight. Ed
