Salterns Village, Salterns Road, Seaview, Isle of Wight, PO34 5AQ
£2,500,000
£5.74 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
435,600 sq ft
40,469 sq m
- SECTOR
Commercial property for sale
- USE CLASSUse class orders: Class E
E
Key features
- Opportunity to acquire an operational holiday letting business plus freehold property comprising 16 two, three and four bed houses, a detached café building and management offices with 3 bed flat above
- Site area approximately 10 acres
- Planning permission for the redevelopment of the management office to a stunning detached house
- Planning permission to relocate reception to outbuilding
- Scalable agency platform with 20 neighbouring holiday homes already under agency management
- Situated opposite the beach and with views over Hersey Nature Reserve
- Freehold guide price £2,500,000
Description
Description
Salterns Village comprises a site area of approximately 10 acres upon which 41 houses, a café and management offices have been developed. Our client has sold 25 of the houses freehold over the last few years. These new owners pay an estate management charge to cover the maintenance and upkeep of the external parts of the houses as well as the wider grounds, car parking, etc.
Location
The village of Seaview is situated on the north east coast of the Isle of Wight, 4 miles from Ryde, 6 miles from Fishbourne, 16 miles from Cowes and 11 miles from Newport. The village is steeped in sailing history and regarded as one of the most desirable areas to live on the island. This is supported by the village’s robust residential property market. The average price for a detached house in Seaview was £459,667 (Rightmove - 2024).
Salterns Village is separated from the beach only by Duver Road with Seaview Yacht Club and a host of pubs, restaurants and cafes within walking distance or a short drive. Hersey Nature Reserve adjoins the property offering visitors to Salterns Village stunning views of the lake and marshes.
There are car ferry services from Southampton to East Cowes and Portsmouth to Fishbourne as well as high-speed passenger services to West Cowes and Ryde including a Hovercraft service from Southsea to Ryde.
Our client has negotiated significant discounts for owners and guests booking car and passenger ferry travel through the Salterns holiday letting business.
Holiday Homes
The 16 retained freehold houses comprise a range of 2, 3 and 4 bed houses as follows:-
Redshank 10 - 377 Sq Ft - 2 bedroom
Redshank 11 - 377 Sq Ft - 2 bedroom
Redshank 12 - 377 Sq Ft - 2 bedroom
Daisy Cottage - 377 Sq Ft - 2 bedroom
Shelduck Cottage - 377 Sq Ft - 2 bedroom
Swallow Cottage - 377 Sq Ft - 2 bedroom
Kittiwake Cottage - 377 Sq Ft - 2 bedroom
Wagtail Cottage - 377 Sq Ft - 2 bedroom
Mallard Cottage - 377 Sq Ft - 2 bedroom
Pebble Cottage - 584 Sq Ft - 3 bedroom
Shell Cottage - 584 Sq Ft - 3 bedroom
Oyster-Catcher 1 - 1064 Sq Ft - 4 bedroom
Oyster-Catcher 5 - 1064 Sq Ft - 4 bedroom
Chiff-Chaff Cottage - 1064 Sq Ft - 4 bedroom
Cooks Cottage - 1064 Sq Ft - 4 bedroom
Hawthorn Cottage - 1064 Sq Ft - 4 bedroom
Each of the 2 bedroom houses are single storey and have 1 bathroom and an open plan kitchen and living room. The 3 bedroom houses have a first floor bedroom, 2 bathrooms and open plan living room and kitchen whilst the 4 bedroom houses are 2 storey with 3 bathrooms and an open plan living room and kitchen. All of the houses have at least one decking terrace, shared use of the car parking and access to the surrounding landscaped grounds.
Salterns House
Salterns House is a two storey detached building providing the main reception and management offices at ground floor level and a large, 3 bedroom self-contained flat above. Planning permission has been granted to demolish Salterns House and replace it with a detached, four bedroom residential dwelling with no conditions or limitations on its use during the year. An opportunity exists to create a separate entrance from Pond Lane exclusively for the use of this dwelling.
Cafe Blue
Cafe Blue is a two storey detached building providing a fully licensed cafe adjacent to the main reception. It includes a fully-fitted kitchen, internal seating area on the ground floor and first floor WC facilities. There is a decking terrace to the front of the café overlooking the Nature Reserve.
The Business
Salterns Holidays operates the day-to-day holiday letting business for both ‘owned’ houses and also the weeks ‘released’ by the owners of 20 neighbouring houses. This includes the central reservation, customer interface, investor relations, maintenance and housekeeping of all of the houses. In addition, the Salterns Holiday team manage the freehold estate.
The key highlights of the business are set out in the marketing brochure.
The Opportunity
In addition to the incremental growth prospects of continuing the existing business, Salterns Village offers a number of future opportunities. This might include leveraging the existing management platform to increase the number of holiday rentals offered to the market either in direct ownership or on behalf of investors. Subject to planning permission, the number of months of use could be extended beyond the current limit of 8 months. The open spaces around the Village could provide an opportunity for camping, yurts and festivals.
Finally, a buyer could sell the retained houses and/or the holiday rental business seeking a capital profit on the purchase price. The most recent sale of a 2 bedroom house was in September 2024 for £190,000 (£504 psf). Earlier sales have achieved up to £199,950 (£342 psf) for a 3 bedroom house and £395,000 (£371 psf) for a 4 bedroom house.
Planning
The current planning permission allows the property to be used for holiday purposes for 8 months a year, from the 1st March until 31st October. Planning permission was granted on 5 May 2023 for the demolition of Salterns House and the erection of a detached, four bedroom residential dwelling with no conditions or limitations on its use during the year.
Services
The property is connected to mains services of water, drainage and electricity and Wi-Fi. Annual fee from owners onsite for estate management services
EPC
A copy of the individual Energy Performance Certificates shall be available upon request.
Business Rates
Current rateable value (1 April 2023 to present) - £38,750.
Tenure
Freehold with vacant possession.
VAT
We anticipate VAT will not be applicable as a TOGC.
Terms
The guide price is £2,500,000 for the benefit of the freehold interest in the property, business goodwill and all trade related fixtures and fittings. The sale will be a Transfer of a Going Concern with staff to be transferred under TUPE regulations. Stock is to be purchased in addition at valuation on completion of the sale.
Finance
Finance may be available. Further details can be provided upon request.
Viewings
The property is trading and under no circumstances should the business or staff be contacted directly. All formal viewing arrangements and enquiries should be directed to the sole selling agents, Savills.
Salterns Village comprises a site area of approximately 10 acres upon which 41 houses, a café and management offices have been developed. Our client has sold 25 of the houses freehold over the last few years. These new owners pay an estate management charge to cover the maintenance and upkeep of the external parts of the houses as well as the wider grounds, car parking, etc.
Location
The village of Seaview is situated on the north east coast of the Isle of Wight, 4 miles from Ryde, 6 miles from Fishbourne, 16 miles from Cowes and 11 miles from Newport. The village is steeped in sailing history and regarded as one of the most desirable areas to live on the island. This is supported by the village’s robust residential property market. The average price for a detached house in Seaview was £459,667 (Rightmove - 2024).
Salterns Village is separated from the beach only by Duver Road with Seaview Yacht Club and a host of pubs, restaurants and cafes within walking distance or a short drive. Hersey Nature Reserve adjoins the property offering visitors to Salterns Village stunning views of the lake and marshes.
There are car ferry services from Southampton to East Cowes and Portsmouth to Fishbourne as well as high-speed passenger services to West Cowes and Ryde including a Hovercraft service from Southsea to Ryde.
Our client has negotiated significant discounts for owners and guests booking car and passenger ferry travel through the Salterns holiday letting business.
Holiday Homes
The 16 retained freehold houses comprise a range of 2, 3 and 4 bed houses as follows:-
Redshank 10 - 377 Sq Ft - 2 bedroom
Redshank 11 - 377 Sq Ft - 2 bedroom
Redshank 12 - 377 Sq Ft - 2 bedroom
Daisy Cottage - 377 Sq Ft - 2 bedroom
Shelduck Cottage - 377 Sq Ft - 2 bedroom
Swallow Cottage - 377 Sq Ft - 2 bedroom
Kittiwake Cottage - 377 Sq Ft - 2 bedroom
Wagtail Cottage - 377 Sq Ft - 2 bedroom
Mallard Cottage - 377 Sq Ft - 2 bedroom
Pebble Cottage - 584 Sq Ft - 3 bedroom
Shell Cottage - 584 Sq Ft - 3 bedroom
Oyster-Catcher 1 - 1064 Sq Ft - 4 bedroom
Oyster-Catcher 5 - 1064 Sq Ft - 4 bedroom
Chiff-Chaff Cottage - 1064 Sq Ft - 4 bedroom
Cooks Cottage - 1064 Sq Ft - 4 bedroom
Hawthorn Cottage - 1064 Sq Ft - 4 bedroom
Each of the 2 bedroom houses are single storey and have 1 bathroom and an open plan kitchen and living room. The 3 bedroom houses have a first floor bedroom, 2 bathrooms and open plan living room and kitchen whilst the 4 bedroom houses are 2 storey with 3 bathrooms and an open plan living room and kitchen. All of the houses have at least one decking terrace, shared use of the car parking and access to the surrounding landscaped grounds.
Salterns House
Salterns House is a two storey detached building providing the main reception and management offices at ground floor level and a large, 3 bedroom self-contained flat above. Planning permission has been granted to demolish Salterns House and replace it with a detached, four bedroom residential dwelling with no conditions or limitations on its use during the year. An opportunity exists to create a separate entrance from Pond Lane exclusively for the use of this dwelling.
Cafe Blue
Cafe Blue is a two storey detached building providing a fully licensed cafe adjacent to the main reception. It includes a fully-fitted kitchen, internal seating area on the ground floor and first floor WC facilities. There is a decking terrace to the front of the café overlooking the Nature Reserve.
The Business
Salterns Holidays operates the day-to-day holiday letting business for both ‘owned’ houses and also the weeks ‘released’ by the owners of 20 neighbouring houses. This includes the central reservation, customer interface, investor relations, maintenance and housekeeping of all of the houses. In addition, the Salterns Holiday team manage the freehold estate.
The key highlights of the business are set out in the marketing brochure.
The Opportunity
In addition to the incremental growth prospects of continuing the existing business, Salterns Village offers a number of future opportunities. This might include leveraging the existing management platform to increase the number of holiday rentals offered to the market either in direct ownership or on behalf of investors. Subject to planning permission, the number of months of use could be extended beyond the current limit of 8 months. The open spaces around the Village could provide an opportunity for camping, yurts and festivals.
Finally, a buyer could sell the retained houses and/or the holiday rental business seeking a capital profit on the purchase price. The most recent sale of a 2 bedroom house was in September 2024 for £190,000 (£504 psf). Earlier sales have achieved up to £199,950 (£342 psf) for a 3 bedroom house and £395,000 (£371 psf) for a 4 bedroom house.
Planning
The current planning permission allows the property to be used for holiday purposes for 8 months a year, from the 1st March until 31st October. Planning permission was granted on 5 May 2023 for the demolition of Salterns House and the erection of a detached, four bedroom residential dwelling with no conditions or limitations on its use during the year.
Services
The property is connected to mains services of water, drainage and electricity and Wi-Fi. Annual fee from owners onsite for estate management services
EPC
A copy of the individual Energy Performance Certificates shall be available upon request.
Business Rates
Current rateable value (1 April 2023 to present) - £38,750.
Tenure
Freehold with vacant possession.
VAT
We anticipate VAT will not be applicable as a TOGC.
Terms
The guide price is £2,500,000 for the benefit of the freehold interest in the property, business goodwill and all trade related fixtures and fittings. The sale will be a Transfer of a Going Concern with staff to be transferred under TUPE regulations. Stock is to be purchased in addition at valuation on completion of the sale.
Finance
Finance may be available. Further details can be provided upon request.
Viewings
The property is trading and under no circumstances should the business or staff be contacted directly. All formal viewing arrangements and enquiries should be directed to the sole selling agents, Savills.
Brochures
Salterns Village, Salterns Road, Seaview, Isle of Wight, PO34 5AQ
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Smallbrook Junction Station1.9 miles
- Ryde St. Johns Road Station1.8 miles
- Ryde Esplanade Station2.1 miles
About Savills, Southampton - Licensed Leisure
Savills, Mountbatten House,1 Grosvenor Square Southampton SO15 2BZNotes
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Disclaimer - Property reference 345658-1. 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 Savills, Southampton - Licensed Leisure. 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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