Attractive Detached 9 Bed Guest House For Sale

Price:

Freehold - £399,950

Seller Ref:

200298

Location:

Isle of Wight , Royal Crescent, Sandown

Business Type:

Hotels

See Other:

Bed & breakfasts for sale in Isle of Wight
Guest houses for sale in Isle of Wight
Hotels and motels for sale in Isle of Wight
Hotels for sale in Isle of Wight

Description:

THE BUSINESS:

Lyndhurst House is located in Royal Crescent and set amongst several other hotels and guest houses and in close proximity to local amenities and Sandown's seafront. Sandown is a highly popular seaside resort drawing a large number of tourists all year round. The town forms part of the Sandown-Shanklin-Lake conurbation and benefits from a rail link to Ryde Pier Head, encouraging further short stay visitors in addition to those travelling by car.

In addition to the long sandy beaches and variety of tourist attractions, Sandown is host to a number of restaurants and public houses providing a good choice of food and entertainment for the visitors to the area.

DESCRIPTION
Lyndhurst House is a detached former Victorian villa which has been extended and provides 8 en-suite guest bedrooms and 1 single guest room which has exclusivity of the first floor bathroom. An enclosed entrance hall with attractive tiled flooring leads to a spacious main reception hall with laminate flooring. A ground floor bedroom currently being used as a private bedroom, was formerly utilised as the guest lounge and could be reinstated as the lounge, separating the lounge and the dining room. Rooms 8, 9 and 10 which are currently undergoing refurbishment, have the versatility to be used as owner's accommodation or be converted to form a second self-contained apartment.
A good size, well fitted and maintained commercial kitchen, with private dining area complete the ground floor commercial accommodation.

OUTSIDE
To the front of the property is an area of concrete hardstanding providing parking for up to 6 vehicles. To the side of the property is a bin store and small courtyard area. To the rear is a further enclosed area.

THE BUSINESS
A well established business achieving a '4 Star Visit England' rating, which provides traditional bed & breakfast . There was a break in continuous trading in 2009/ 2010 due to a family bereavement and as a result Lyndhurst House re-commenced trading in July 2011. During this time extensive redecoration and modernisation works were carried out to the guest areas and the majority of guest letting rooms.

PLANNING PERMISSION
Planning Permission P/00734/06 - TCP/17835/C was obtained and granted for the demolition of the rear conservatory and part extension and the conversion of the hotel into 9 flats. This Decision Notice was dated 15 May 2006 and has now expired, but could be again obtained allowing for redevelopment of the premises.

Planning Permission P/00235/11 - TCP/17835/E was also obtained and granted for alterations and change of use of single storey rear extension to form two self-contained flats.

TERMS
Available for sale with offers invited 'in the region of' £399,950 for the benefit of the premises, goodwill, fixtures, fittings, plus stock at valuation.

UNIFORM BUSINESS RATE
Rateable Value - £5,000
(2011/2012) – 43.3p without small business relief. Small business relief may be available on the property but interested parties should make their own enquiries of the Isle of Wight Council with regard to eligibility and rates that apply. It should also be noted that the rate liability may be affected by the Government's transitional arrangements. Interested parties should make their own enquiries to confirm any rate liability.

Location Details:

Trading Hours:

March/ April to September/ October

Accommodation:

With access from the main hotel, a 1 bed owner's apartment is being formed to the rear of the hotel. The new apartment will provide a new fitted kitchen/ diner and lounge, 1 bedroom and a bathroom. A further bedroom could be formed by utilising Room 11.