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Hotel for sale

The Wellington Hotel

Withdrawn from Market £975,000

Property Description

Full description

Tenure: Freehold

LOCATION
Situated in the lovely coastal town of Ventnor overlooking the English Channel.
Ventnor is a Victorian seaside town and has benefitted from massive regeneration over the last 5 years and boasts some of the Islands best eateries and wine bars. It is also renowned for its annual Fringe festival which generally runs for 1 week in August, making the most of the unusual microclimate this side of the Island.
Ventnor benefits from a small harbour which offers fresh fish and crab daily and there are various producers offering fresh home grown produce locally and across the Island.

DESCRIPTION
Accommodation is currently arranged over 4 floors and comprises 28 letting rooms, 26 of which have direct sea views over the Esplanade and out to the English Channel, 13 of these rooms offer balconies.

There is a guest dining room offering 150 covers with open feature fireplace, a fully stocked bar and a large decked terrace again with lovely direct sea views which many guests enjoy al fresco dining.

To the front of the property there is parking for approximately 8 cars.

The property is still set up to trade as a hotel and could be re-opened very quickly if needed.

The site also benefits from planning permission for conversion to 13 self contained holiday apartments.

ACCOMMODATION
The Business
The hotel was open year round and catered for all types of customers including families and couples. There was a manager in place but the hotel could be owner run.
The restaurant currently does not trade but there is scope to re-open and offer a great dining experience for guests and the general public alike.
The turnover for Year ending March 2015 was circa £310,000 net.

Tariff
Double for single occupancy from £80
Double or twin for two people from £100
Triple, twin or double plus extra from £120

AMENITIES
Tenure
Freehold

Inventory & Stock
A full inventory can be provided, stock at valuation on completion.

SERVICES
All mains services are connected.

TERMS
Our client is asking for offers in the region of £975,000.

OUTGOINGS
Business Rates show Rateable Value £33,500, Rates Payable approx. £16,050 per annum.

PARKING NOTES
8 Parking spaces to the front of the property, on Belgrave Road.

PLANNING
Planning permission was granted in August 2017 for the conversion of the property to 13 bedroom self contained holiday apartments. Planning can be see at iwight.com/planning by searching P/00834/17.

VIEWING
All viewings to be arranged via HRD Commercial. Please contact 01983 527727 to arrange.


More information from this agent

Energy Performance Certificates (EPCs)

Map & Street View

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