Freehold Sale - Former Hotel
On behalf of the Joint Administrators of Carlauren Resort 21 Limited
For Sale - FORMER 40-BEDROOM HOTEL SET ON A C. 0.74 ACRE PLOT WITH REDEVELOPMENT POTENTIAL – Parkbury Hotel, 29- 31 Broadway, Sandown Isle of Wight, PO36 9BB.
• Prominent holiday resort location
• Existing Hotel use class
• Rectangular site C. 0.74 acres
• Possible redevelopment to residential break up or care home uses (subject to planning)
• To be sold on an unconditional basis, with no warrantees or guarantees
The Parkbury is a 40 bed, hotel which was originally two Georgian residential properties that have been combined with a single storey link and a more modern (1970’s) two storey, flat roofed extension to the rear. The property has gardens front and rear and limited parking area for guests off Station Lane. The hotel occupies a level rectangular site of approximately 0.74 acres. The hotel was trading until March 2019 and has been closed since that date. The property has redevelopment potential either for continued use as a hotel, care home or residential break up or development subject to the grant of an appropriate planning consent. The property will require building repairs and maintenance, as well as internal refurbishment and redecoration.
The Parkbury Hotel is situated on the west side of Broadway (A3055) between the junctions with Station Lane which forms the southern boundary of the property and Winchester Park Road which forms the northern boundary. To the rear is The Bay Primary School. The Esplanade is approximately 0.6 miles to the south east, Sandown Railway Station o.2 miles to the west and the Town Centre (High Street) 0.4 miles to the south. Sandown is a holiday resort town on the south east coast of the Isle of Wight between Shanklin to the south and Bembridge to the north east. Ryde and the Portsmouth Ferry is approximately 6.3 miles to the north via the A3055 and East Cowes and the Southampton Ferry approximately 12.5 miles to the north west via the Downs Road.
We have been unable to establish a rateable value at this stage, investigations are ongoing.
We understand mains services are connected.
The Property is marketed subject to a number of long leasehold interests.