Bed & Breakfasts for sale in Isle of Wight

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S Martin (Feb 2013)
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Freehold Price: £720,000
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Business Description
A most attractive and imposing building, Abingdon Lodge has capacity for 2 Guest Suites and 16 guest letting rooms arranged as per the room schedule overleaf. All letting rooms are en-suite, have mini fridges, tea & coffee making facilities and wall mounted flat screen televisions with Freeview & DVD.
The Abingdon Suite benefits from its own street entrance, sleeps 6, kitchenette and shower & WC facilities. An interconnecting door joins with The Lodge Suite with similar accommodation.
The Abingdon Lodge trades on a room only basis but offers a continental breakfast upon request. This therefore provides a business that can be easily management run with minimal staffing required.
There is also currently a liquor licence for the property providing further opportunities to future owners if required
Separately accessed off West Street and comprising:-
Double bedroom, lounge, domestic kitchen and bathroom. The comfortable owner's suite has the added advantage of a separate gas fired boiler, metered utilities and, indeed, separate rating valuation, offering the potential to either sell or let independently if required.
Traded by the current owner on a "year round basis", Abingdon Lodge offers qualilty ensuite accommodation and charges from £35 for single rooms in the low season to £70 per room, per night, for double/ twin rooms in the high season. Operating as a Lodge (room only basis) for several years, guests do have the option of a contintental style breakfast at an additional £5 per person, per day if required. This makes the day to day running far less labour intensive than a traditional bed and breakfast establishment and the business could easily be management run with minimal staffing. Refurbished by the current owner the property provides modern and well maintained accommodation, mainly appealing to guests prefering the flexibility of offsite dining. As a result we are advised that occupancy levels are relatively high which contributes to the profits achieved. Accounting information will be made available to bona fide applicants after inspection. In 2010/ 2011 all rooms were upgraded with flat screen Freeview/DVD televisions. Free wifi is also available throughout the accommodation. The business has an attractive and functional website that allows the user to find out more about the hotel and the services on offer. This very easily run business has been established for over 25 years with this being only the second owner. The current owner solely manages Abingdon Lodge, which represents a superb opportunity for a buyer wanting to make an investment or experience a life style with home and income.
Alternatively there is an option to lease the business and premises on a fully repairing and insuring basis. Rent £24,000 p.a. plus an ingoing premium of £55,000. Full details are available upon request
Tenure: Freehold

Location Details:

Abingdon Lodge sits prominently on the corner of West Street and Green Street, one of the main junctions approaching Ryde. Just on the outskirts of Ryde town centre, Abingdon Lodge is popular throughout the year attracting clientele visiting the Island on business, contractors, students attending the local independent school and, of course, holiday-makers during the ever extending holiday season. Abingdon Lodge is within easy walking distance of Ryde's town centre, which boasts a wide range of shops, pubs and eateries. Ryde is the Island's second largest town with a population of 25,000, considerably boosted all year round due to the fast passenger links by Hovercraft and Catermaran to Portsmouth and Southsea and also the car ferry from Portsmouth to Fishbourne. It is just 8 minutes away from the terminal.

Listed by: Gully Howard
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