Long Established, Profitable Hotel, Requiring Upgrade

Location

Hotel located less than 0.2 miles away from Sandown railway station, putting it in easy connection with Ryde and its fast passenger links with the mainland. The hotel is in a quiet residential area of Sandown but still placed within easy walking range of Sandown beach, pier, High Street, and the variety of restaurants and shops in the seaside resort town. Sandown forms part of the Sandown-Shanklin-Lake conurbation which wrap around Sandown Bay with the sandy beaches and leisure offer of the area, ensuring high numbers of visitors and tourists, boosting the local population of around 19,500. Sandown’s seafront is a magnet to tourists and locals alike, flocking to the area to enjoy the many facilities and amenities on offer. Besides its famous sandy beaches Sandown is home to The Isle of Wight Zoo, Dinosaur Isle, Sandham Gardens Activity Park plus Sandown Pier with its many rides and attractions. The town has seen significant investment in recent years, with some substantial upmarket residential redevelopment being completed at each end of the town.

Description

Attractive ivy-clad period property with many original features including a stunning main staircase. There is a generous car parking area to the front, and gardens to the South and West. The hotel accommodation currently runs to 13 rooms. The owner’s accommodation currently runs to 3 bedrooms, plus their own private lounge and well-presented shower room. Historically, one of the bedrooms in the owner’s accommodation was part of the hotel offer. As such, this could be brought back into use if required. The accommodation is supported by a residents’ dining room and traditional bar, offering much character. There is also a residents’ lounge, again, with many period features. The hotel has been operated by the current owners for nearly 30 years, who are selling due to retirement. The hotel has traded very well, and profitably, for them over this time, offering very reasonably priced accommodation. As such, the hotel could do with being re-decorated and brought up to date. Alternatively, due to the character of the building, it may be possible to reduce the number of bedrooms and create a small boutique hotel. There is also the possibility, subject to any relevant planning consents, to section off the newer part of the building to the East, and create Airbnb or apartment-style letting rooms in that part, while the main part of the building could then be returned to residential use. Please see floor plan for further detail

The Business

Having traded for nearly 30 years and being family-run, the business is very profitable, offering a net profit in excess of 60% of turnover. Accounts are available to bona fide applicants after viewing the property.

Terms

Offers are invited in the region of £545,000 for the freehold interest of the property.

Uniform Business Rate

Rateable Value: £8,800

2023/2024: £0.512p without small business relief. Interested parties should make their own enquiries of the Isle of Wight Council to confirm any rate liability or rate concession that may be applicable by telephoning Business Rates on 01983 821000

Viewing

Strictly by appointment with sole agents Gully Howard Commercial Property, Suite 11 Salisbury Gardens, Dudley Road, Ventnor PO38 1EJ. Call Gavin Chambers or Morgan Williams on 01983 301434. E: gchambers@gullyhoward.com or mwilliams@gullyhoward.com

UNDER NO CIRCUMSTANCES SHOULD ANY DIRECT APPROACH BE MADE TO THE PROPERTY AS THEY WILL BE UNABLE TO ASSIST