33 BEDROOM SEAFRONT HOTEL FOR SALE
Price:
Freehold - £949,950
Location:
Isle of Wight , Culver Parade, Sandown
A detached former Victorian villa subtantially extended over the years and benefiting from an extensive programme of refurbishment undertaken by the current owners. Glazed double doors from the front terrace open onto the entrance hall with reception desk and offices. A well-appointed dining room catering up to 70 covers and separate guest lounge/ bar are located at the front of the building. The bar benefits rom a Premises Licence and is open to non-residents. Open until 1am Monday to Friday, 2am Saturday and 12 midnight on Sunday. An Entertainment Licence allows live music to be played on a nightly basis throughout the season.
Guest bedrooms are well appointed and furnished, with colour televisions, coffee and tea making facilities and en-suite facilities, 16 of which are on the ground floor and provide access for those with mobility difficulties. The hotel offers 7 guest rooms wth balconies and sea views.
LICENCE
An Entertainment Licence allows live music to be played on a nightly basis throughout the season. Leisure facilities within the hotel include a sauna and separate spa. Guests can pay for various treatments within a dedicated beauty therapy room.
OUTSIDE
An enclosed terraced area to the front of the hotel overlooking the sea boasts a heated swimming pool as a focal point for guests. An adjoining kiosk, which opens out onto the pavement serves food and drinks along with tourist related gifts to the general public has a seating area and can also provide hotel guests with snacks during the day. Finally, the hotel has parking facilities for up to 18 vehicles with coaches accommodated in a nearby Council owned car park.
THE BUSINESS
Successfully operated by the current owners for the past 9 years enjoying an excellent reputation and a high level of repeat business, trading almost year round (only closing during the month of January for maintenance and decoration), providing quality accommodation for coach tour companies and private guest bookings.
Accounts for the year ended 31 March 2011, show a turnover of £400,603, exclusive of VAT, suggesting a healthy adjusted net profit of around £68,163 for the year exclusive of VAT. Detailed financial information will be made available to bona fide applicants after inspection of the business premises.
TRADING AND AWARDS
This hotel has been awarded wih a 2 Star hotel rating under the "Visit Britain" rating system. The hotel has also been awarded with 5 Star 'EHO' Food Hygiene, BII Accredited, Gold Award - 'Best Bar None' issued by the Isle of Wight Council and Award for Community Impact.
SECURITY
As part of the refurbishment programme, the hotel now benefits from a digital CCTV to the main reception and external areas. Furthermore, a "Kaba" card entry system allows controlled access throughout the accommodation. The hotel also benefits from a new multi-zone fire alarm system with sounders and detectors in every room.
INVENTORY
A detailed inventory is available to bona fide applicants after inspection of the business premises.
PRICE
Offers are invited "in the region of" ^r£949,950^d for the business premises, fixtures, fittings and goodwill of the business plus stock at valuation on completion.
Sandown is situated on the south eastern coast of the Isle of Wight, approximately 8 miles south east of the Island’s administrative centre and county town of Newport. Sandown, which is linked to the neighbouring town of Shanklin via the parish of Lake, is a favoured tourist resort on the Isle of Wight, drawing a high number of visitors year round. The town offers extensive sandy beaches and a wide variety of tourist attractions, sports facilities and coastal walks, catering for all ages and interests.
The Hotel has frontage onto Culver Parade, which is within close reach and a level walk to the main retail area and local attractions. Consequently, the hotel’s location is popular with guests both during the main holiday periods and out of season when the town remains relatively vibrant with its mix of bars, restaurants and attractions continuing to draw year round trade. The hotel’s seafront location provides views across Sandown Bay towards Culver Down and beyond towards the En
All Year Round (closed January)
A separately accessed two bedroom owner's apartment is located to the rear of the main hotel and benefits from a lounge, kitchen and bathroom, plus a small private garden. Furthermore, a single garage and store provide additional storage.
North Yorkshire
£ 750,000
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