Popular trading hotel in a fantastic central location in Ryde.
Ryde is the largest town on the Island by population (circa 32,000 2011 census) and boasts miles of glorious sandy beaches.
There is the transport hub close by with train and bus links to the rest of the Island plus Fastcat and Hovercraft to Portsmouth.
Yelf's Hotel has 24 en suite letting rooms and suites in this Grade II listed building.
The ground floor includes a restaurant, lounge bar, conservatory, function room, dining room, library and patio outdoor seating area.
Access is from Union Street. There are 50 covers within the lounge bar and a further 20 in the conservatory to the rear. The large dining/function room is capable of accommodating more than 100 people and is also used as a breakfast area for the hotel guests.
There is a library to the front of the building which can accommodate small meetings, the Dutch Room which offers approx. 30 covers
The commercial kitchen is situated just off the dining room, while the basement houses storage and the boiler room.
The letting accommodation is arranged over the floors above the public rooms. The rooms offer a mix of sea views and town views.
The hotel is a popular wedding destination and tailors packages to suit. Also the space available provides ample amenities for all types of functions.
Please see our client's own web site for further information concerning the hotel https://www.yelfshotel.com/
Terms Price Guide of £845,000 for the premises to include fixtures, fittings and goodwill + stock at valuation.
The vendor has advised that the average income per annum for these 24 bedrooms is circa £253,000, also to be taken into account is food sales of £344,000 and bar sales of £300,000.
There is also the opportunity to purchase further properties in this portfolio, please see below:
53 Union Street, Ryde
Grade II listed property with ground floor and basement commercial let as the Black Sheep Bar at £34,000 pa on a 15 year tenancy from 2008.
The first and second floors offer 7 bedrooms & 2 offices over, currently utilised as part of Yelf’s Hotel but will be able to be purchased as one block. Freehold £550,000
25 Union Street, Ryde
Grade II listed property with ground floor commercial unit currently let to Ladbrokes at £31,000 pa on a 15 year lease from October 2008. With 9 rear ground floor and first floor letting units and paved car park to the rear.
Car Park adj 18 Union Road, Ryde
Adjacent to No. 18 Union Rd. With planning for six apartments.
Or alternatively the portfolio, including Yelf’s Hotel and the properties listed above could be purchased as one lot, the asking price for this is £2,100,000.
Well known hotel in prominent position within the seaside town of Ryde.