Vectis Hall In Ryde Resold For £43,500 Weeks After Auction

A historic building in Ryde has been sold for a second time in a matter of weeks, after the previous sale saw it fetch less than a quarter of the price paid by the town council.

Grade II listed Vectis Hall, on Melville Street, has changed hands for £43,500 through auctioneers Barnard Marcus.

The latest sale follows an auction at the end of September, when the property sold for £30,150.

Ryde Town Council bought the building for £125,000 in 2020 before selling it amid concerns about the cost of maintaining the historic site.

Built in 1812, Vectis Hall was Ryde’s first free school and has also served as a community hall.

It is also known as a filming location for the 1973 British film That’ll Be the Day, starring Ringo Starr and David Essex, with dance scenes shot inside the building.

Following the September auction, Ryde mayor Karen Lucioni said the council was pleased someone had come forward to give Vectis Hall a future.

She said removing the building from the council’s property portfolio was important, adding that the authority hoped the new owners would be able to secure funding it had been unable to find.

However, the property has now been resold within weeks of that initial sale.

Town council clerk Lisa Dyer previously described the building as a potential liability, saying it was one of the issues that caused her concern.

Barnard Marcus has suggested the site could have development potential, subject to the necessary planning consent.