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Cowes, Isle Of Wight

Guide Price
£2,250,000

Business rates & charges may apply

Spence Willard Commercial, Cowes
SECTOR
Hotel for sale

Property description

Tenure: Freehold

LOCATION
North House occupies a discreet and picturesque location within the Conservation Area of the Old Town Cowes, just a couple of minutes walk from the High Street, sailing facilities and high-speed ferry service to Southampton. This coastal town has a vibrant high street, a good range of restaurants and bars whilst also hosting many sailing regattas and events, and is within 2 hours 5 minutes of London Waterloo. Nearby Northwood Park has a number of tennis courts and offers a seasonal bar and entertainment.

THE ISLE OF WIGHT
Just over 60 miles from London, the Isle of Wight can be easily accessed via the A3 and M3, with travel across the Solent in as little as 10 minutes. There are a choice of six ferry routes and good train connections to London and beyond. With over half of the Island designated an Area of Outstanding Natural Beauty and the recent UNESCO Biosphere status there is much to inspire and be enjoyed. 57 miles of glorious coastline range from sandy beaches to rugged cliffs providing something for everyone. There are many outdoor pursuits such as paddle boarding, sailing, golfing, horse riding, surfing, mountain biking and paragliding in addition to a wide range of attractions such as Osborne house and Carisbrooke Castle, as well as a vast choice of festivals and events attracting a diverse range of visitors year round.

TRAVEL TO NORTH HOUSE
Just over 60 miles from London and easily accessed by car or passenger ferry:
SOUTHAMPTON TO EAST COWES
A car and passenger service. Journey time approx. 55 minutes
SOUTHAMPTON TO COWES
A high-speed passenger ferry service. Journey time approx. 30 minutes
LYMINGTON TO YARMOUTH
A car and passenger service. Journey time approx. 40 minutes

DESCRIPTION
The hotel was subject to extensive refurbishment and renovation which also incorporated the ground floor of adjacent 32 Sun Hill. As part of the works entirely new electrical, plumbing, heating, fire and security systems were installed. The fabric of the building was also overhauled with the roof of the main hotel replaced and new windows installed to the rear elevation of the main hotel building. A largely glazed extension to the rear forms the current restaurant with potential for a roof garden to be created above. To the rear of the hotel is a superb walled garden providing an attractive large dining terrace with lawned garden and new swimming pool beyond.

The purchaser will benefit from both the extensive refurbishment with high quality fittings and the excellent design and furnishing which have created a great business with strong goodwill and excellent further potential. With 14 en-suite bedrooms ranging from around 20m2 up to 40m2 with either king or super king sized beds and some with woodburning stoves. All rooms have a kettle, fridge, coffee machine and TV and there is a central extraction system serving most of the bathrooms. A well-fitted commercial kitchen adjoins the restaurant capable of 50 covers with an additional private dining room and outdoor dining terrace, whilst guests can enjoy the comfort of an excellent bar and separate library.

The hotel holds a wedding licence which expires in July 2024 with capacity for 30 in the library, 40 in the private dining room and 60 in the restaurant.

ACCOMMODATION
Well-fitted commercial kitchen | Adjoining restaurant capable of 50 covers | Additional private dining room | Outdoor dining terrace with lawned garden and swimming pool | Elegant bar | Separate library | 14 en-suite bedrooms

ENTRANCE HALL
With flagstone floor leading to the reception area.

BAR
With marble counters and superbly fitted with the associated appliances and sink, with an adjacent comfortable seating area and period open fireplace.

PRIVATE DINING ROOM
Panelled throughout with period open fireplace.

FULLY EQUIPPED COMMERCIAL KITCHEN
(apply for full details).

SNUG
With some built-in seating providing a cosy dining area which then opens into the:

RESTAURANT
With windows across the southern and western elevations and French doors opening to the terrace, this superbly light dining area overlooks the gardens and includes some built-in seating and is capable of up to 50 covers.

LIBRARY
A seating area with woodburning stove and the original double entrance doors into this former theatre.

TOILETS
Well-appointed ladies and gents toilets with three cubicles in each.

OFFICE
IT and Security system.

WINE STORE

LINEN ROOM

BEER CELLAR
Air conditioning unit.

STORES AND STAFF WC

COURTYARD STORE
A largely covered space with extensive built-in storage and a bin store.

BEDROOMS
In the main hotel the first floor is approached via an elegant period staircase leading to a landing with a seating area from which five bedroom suites are accessed, all of which are unique with period characteristics and with their own bath or shower rooms.
In the rear wing, accessed from the courtyard garden there are a further nine bedrooms with en-suite bathrooms, six of which benefit from great views over the harbour entrance and Solent towards the Hampshire Coast.

PLANT ROOM
Housing 3 x 300 litre direct hot water cylinders and three Worcester gas fired boilers and pool filtration and treatment system.

OUTSIDE
The DINING TERRACE is set within an attractive walled garden paved in brick and capable of providing a further 40 covers, with outside lighting. Beyond is a lawned garden and a HEATED SWIMMING POOL with an adjacent sun deck. There is rear pedestrian access to Terminus Road providing a shortcut to the Red Jet ferry and marinas.

The recently built flat roof extension forming the dining room was reinforced with a view to being able to provide a roof garden (subject to the necessary consents).

SERVICES
Mains water, electricity, drainage and gas. Gas fired central heating (with underfloor heating in the dining area). There is a pumped hot water system providing virtually immediate hot water throughout. Fibre Wi-Fi connection throughout the building.

TERMS
Freehold, with the exception of the front of 32 Sun Hill that has a long leasehold with no expiration date.

OUTGOINGS
Rateable value £28,000. Resulting in rates of £509 payable after applying the multiplier

VAT
If the sale of the property be deemed to be a chargeable supply for VAT purposes such tax will be payable by the purchaser in addition to the sale price.

PARKING NOTES
North House is situated in the heart of Cowes Old Town, and therefore has no private parking facilities. However, a long stay pay and display car park is situated a few minutes´ walk from the hotel, located on Park Road. Alternatively, on-road parking can be found on nearby Church Road and Ward Avenue.

PLANNING
32 Sun Hill is Listed, Grade II.

OTHER
Whilst North House only opened in 2017, as the leading boutique hotel in Cowes it quickly gained an excellent reputation and succeeded in winning numerous awards and accolades:
- Part of Conde Nast Johansens
- Conde Nast Award for Excellence
2021 and 2022
- Part of Great British & Irish Hotels
- Part of Mr & Mrs Smith
- César award winner Top 10
Hotels in the UK by the Good
Hotel Guide 2020
- Part of The Good Hotel Guide
- Michelin Guide 2018
- Good Food Guide 2019

Trading figures when the hotel was open over the last two summers has seen excellent occupancy rates and a growth in room rate. From 1st August to 30th September 2020 there was average occupancy of 96.02% and room rates of £197.03 and from 1st June to 30th September 2021 an average occupancy of 96.59% and average room rates of £236.88. For further details please apply to the selling agents

VIEWING
All viewings will be strictly by prior arrangement with the sole selling agents, Spence Willard

Brochures

Cowes, Isle Of Wight

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Ryde Pier Head Station6.3 miles

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 100523009202. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Spence Willard Commercial, Cowes. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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