A hotel located above the popular resort of Shanklin on the Isle of Wight is on the market offering a ready-made business with plenty of potential for growth.

The Fernbank Hotel, which has an AA 4* Gold Bed and Breakfast Award and is renowned for its attractive gardens, is on the market with Colliers International at £825,000 for the freehold.

Ed Jefferson from Colliers International’s Hotels team said the business was very profitable, even though it only presently operated on a seven month season.

“This is a tranquil bed and breakfast hotel in a lovely elevated position above the picturesque Old Village district of Shanklin.

“Nestling at the foot of Saint Martin’s Down, surrounded with old stone walls and beautiful Victorian villas, Fernbank overlooks its own sub-tropical landscaped gardens, with superb indoor pool, and private sun garden.

“All the facilities are within a stone’s throw of the beach and the many eateries Shanklin Old Village has to offer.”

Ed Jefferson added: “Our clients bought the business in 2010 and set about a major refurbishment – however, due to personal circumstances, they have only operated the business from Easter to the end of September.

“There is a clear opportunity to extend the season, and also to create an additional bedroom from the under-used ground floor lounge.”

Dating back to the early 1800s, Fernbank was expanded in the 1970s to include a swimming pool. The 17 en-suite letting bedrooms sleep 31 people, and comprise four superior rooms, four classic doubles, three zip and link, two small doubles and three singles plus a family room with adjacent single.

For the owners there is a double en-suite bedroom on the ground floor next to the office and small store, which could be re-configured as a small flat.

The resorts of Ventnor, Newport, and Ryde and the Fishbourne Ferry terminal are less than ten miles away, while the ferry to Portsmouth takes just 40 minutes.