Albert Cottage Hotel, York Avenue, East Cowes, PO32 6BD

Description
Albert Cottage Hotel is a substantial Grade II listed freehold hotel extending to approximately 11,358 sq ft, set within approximately 2.8 acres of mature grounds in East Cowes. Formerly part of the Osborne Estate, the property provides 10 en-suite bedrooms, reception and lounge areas, a 90-cover restaurant, 24-cover bar and 120-cover garden terrace, together with a further restaurant and bar providing 30 covers.

The property retains a number of significant period features, including a historic covered passageway commissioned by Prince Albert, alongside extensive gardens, terraces and parking for approximately 50 cars. A detached two-bedroom Indian Summer House extends to approximately 732 sq ft and is currently used as a holiday let. The property operates as an established hotel, restaurant and events venue, with the grounds providing scope for weddings, functions and outdoor events.

Location
East Cowes is a town in the north of the Isle of Wight, on the east bank of the River Medina.
Albert Cottage Hotel is located approximately 1.0 mile south-east of the centre of East Cowes.
A number of local amenities are available in close proximity including shops, restaurants and cafes.
Recreational facilities include East Cowes Marina, Victoria Recreation Ground, Osbourne Golf Club and East Cowes Sea front which are all easily accessible.

Transport
East Cowes benefits from regular ferry connections to the mainland, with the Red Funnel vehicle ferry terminal approximately 1 mile away, providing services to Southampton. The town is also connected to West Cowes by the floating bridge, approximately 1.5 miles away, providing access to the Red Jet passenger ferry service to Southampton.

The property is served by local bus services, with Route 4 providing connections between East Cowes, Newport and Ryde, while other routes connect with destinations across the Island. Ryde Esplanade and Ryde St John's Road railway stations are approximately 6 miles away, providing access to the Island Line network and onward connections via the ferry and hovercraft services to the mainland.

By road, Newport is approximately 5 miles away, while Cowes is approximately 2 miles away. Southampton is accessible via the Red Funnel ferry service from East Cowes.

Viewings
Please contact Savills for more details.

Tenure
Freehold. Subject to lease.

Accommodation
Total 1,055 Sq M (11,358 Sq Ft)

Ground Floor – Reception Hall, Victoria Restaurant and Bar, Guest Lounge, Service Kitchen, Utility, WC, Cellar and Stores, 3 En-Suite Guest Bedrooms. Southern Wing Comprising Bar and Lounge, Main Restaurant, Commercial Kitchen, Ancillary WC and Storage Facilities.

First Floor – 7 En-Suite Guest Bedrooms, Comprising 1 Double Master/Bridal Suite, 1 Family Suite Comprising Double and Twin Bedrooms, 1 Family Suite Comprising Double and Single Bedrooms, 1 Twin Bedroom and 5 Double Bedrooms.

Cellar – Approx. 549 Sq Ft (51 Sq M), Incorporating Cellar and Storage Facilities.

Indian Summer House – Detached Two-Bedroom Property extending to approximately 732 Sq Ft (68 Sq M), Comprising Two Bedrooms, Kitchenette, Dining Area, Lounge And Bathroom, with parking for 2 cars.

External – Approximately 2.8 Acres Of Mature Grounds.

Parking for approximately 30 cars to the front of the hotel and a further 20 cars to the rear, accessed from York Avenue.

Tenancy
The property is let to Beau Monde Limited on a lease for a term of 7 years from 2 May 2024, expiring 1 May 2031.
The lease provides for an initial rent of £60,000 per annum exclusive of VAT, subject to an upwards-only open market rent review on 2 May 2029.
The rent payable following the review will be the higher of £60,000 per annum and the open market rent.
The tenant benefits from a rent-free period from 2 May 2024 to 1 May 2029 inclusive, in consideration of covenanting to carry out and fund refurbishment and upgrading works to the property at a cost of not less than £300,000. The works are to be completed by 2 May 2029.
If the tenant's evidenced expenditure on the works is less than £300,000, the tenant is required to pay the shortfall to the landlord as additional rent.
The property is permitted to be used as a hotel, restaurant and events venue.
Prospective purchasers are strongly advised to refer to the lease.

Planning
Planning Authority: Isle of Wight Council.

Notes
The following historical note appears on the hotel's website.

Built in the 1840s probably by Thomas Cubitt – the then leading master builder in London – Albert Cottage was bought in 1852 by Prince Albert to be part of a Botanic Garden development of the Osborne House Estate, and was used together with the adjacent Osborne Cottage by Royal guests.

In 1899 a covered corridor was constructed to link the two properties and allow easy movement between them without guests having to brave any inclement weather. This corridor now links the main Hotel and Consort Restaurant & Bar area. When Queen Victoria died in 1901, her successor Edward VII kept both cottages for the use of Victoria’s youngest daughter, Princess Beatrice.

In 1913 the Princess moved to Carisbrooke Castle and Albert Cottage was sold to Sir Richard Burbidge, philanthropist Managing Director of Harrods. It was again sold in 1924 to The Hon. Elizabeth Storr, widow of Major L.P. Storr DSO, a war hero killed in action in France in 1918. After later neglect it was turned into a hotel in 1999 and has recently been further developed and restyled by current Director Annie Horne.

Legal Documents
Please go to:


EPC
If no EPC rating appears please refer to the legal pack.

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