Colliers International selling Isle of Wight hotel
A prominent hotel on the Isle of Wight seafront has been put up for sale with an asking price of £1.1m
The Royal Esplanade hotel in the seaside town of Ryde has been brought to the market by property agent Colliers International. The Victorian hotel is a character property with 69 bedrooms, a bar, lounge, decked sun terrace as well as a café and restaurant, which is open to the public. Set out over five floors, the hotel has views of the Solent and is close to Ryde’s four-mile sandy beach, and opposite the pier and the hovercraft terminal.
The Isle of Wight was made famous when Queen Victoria made it her holiday home with Prince Albert remodelling Osborne House, which is situated only a few miles from the hotel. The island – which has the last remaining Hovercraft service in the world – attracts 1.4m visitors a year. With 57 miles of coastline, the Isle of Wight boasts sandy and shingle beaches, rugged cliffs, hidden coves and clear waters. Its beaches are recognised as being some of the best in Europe with 17 Blue Flag and Seaside Awards – more than any other destination in England.
Half of the Isle of Wight is designated as an Area of Outstanding Natural Beauty while visitors are also attracted to its award-winning annual festival and its status as the dinosaur capital of Great Britain with over 20 species of dinosaur identified on the island.
Simon Wells, hotels director at Colliers International, said: “Opportunities to secure a hotel business such as this are few and far between. The Isle of Wight is a small yet beautiful and well-regarded visitor destination, and being less than two hours from London, this charming hotel will offer its new owners a wonderful location and lifestyle.
“The Royal Esplanade attracts a mix of trade including self-drive and coach borne holidaymakers. There is scope for further growth by expanding the food and drink offering at the hotel’s seaside coffee lounge and restaurant, during the busy summer months or else by trading all year round - at the moment the hotel closes from January to March, which in itself is very attractive to owners who wish to take an extended break each year.”