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20 Nov 2008
Ref: win1047
Established coastal hotel on the Isle of Wight is up for sale
This news item was issued when the business featured was for sale. Please contact the relevant office to check on its current availability.
An established 2 Star hotel, which is centrally located in the seaside town of Sandown on the Isle of Wight, has been placed on the market through the Winchester Office of leading business agents, Christie + Co.
The Riviera Hotel occupies an excellent position close to the main promenade, with direct access to the beach and benefits from stunning views across Sandown Bay. The business comprises a detached former Victorian marine villa, which has been considerably extended over recent years and has 43 en suite bedrooms, a 100-cover restaurant, a licensed function room, a bar lounge and a raised terrace to the front of the property.
There is owner’s accommodation situated adjacent to the main building, with separate access from the hotel, which provides two bedrooms, a bathroom, a lounge and a separate kitchen situated over the ground and first floors.
The coastal and traditional holiday resort of Sandown is situated on the south eastern side of the Isle of Wight, about three miles north east of the neighbouring resort of Shanklin and six miles north east of Ventnor.
Ed Bellfield, from Christie + Co’s Winchester Office, who is handling the sale, commented; “The Riviera Hotel is an established business, which enjoys an excellent reputation with a high level of repeat business. Trading for approximately 11 months of the year, the hotel provides quality accommodation for coach tour companies and private guests. In our opinion, there is an excellent opportunity to further develop and expand the business over and above its recent trading successes.”
An asking price of £1,125,000 is being sought for the freehold interest of the Riviera Hotel.
For more information contact:
Julie Allen (Publicity Officer)
Press Office (+44 (0) 1908 350580)
Julie.Allen@christie.comEd Bellfield (Valuation Services Manager)
Winchester (+44 (0) 1962 844455)
Ed.Bellfield@christie.com
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