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Abingdon Lodge West Street Ryde

For sale: £525,000.00|Residential, Hotel

PROPERTY DETAILS

FOR SALE£525,000.00
ADDRESS19-20 West Street, PO33 2QQ
TYPEResidential, Hotel
TENUREBusiness for sale, For Sale Freehold
POSTED ON13th February 2019

DESCRIPTION

A prominent, excellently maintained, 18 letting room guest accommodation in an excellent town centre location. Separately accessed owners suite T/O previously in excess of £128,000 per annum (exc. VAT)
LOCATION
Abingdon Lodge sits prominently on the corner of West Street and Green Street which is one of the main junctions approaching the popular resort town of Ryde. It is within easy walking distance of Ryde’s main shopping centre where there is a surfeit of shops, pubs and restaurants to suit all pockets. The hotel also boasts being close to many tourist attractions and other local amenities.

It is a popular choice for weekend visitors and repeat clientele of all ages. Easily accessible. The Abingdon is open throughout the year attracting clientele visiting the Island on business, contractors, students attending the local independent school and, of course, tourists during the very busy season of March – October. With an ever growing residential population and an attractive sandy sea front the town attracts strong year round trade.

Ryde is the Islands largest town with a population circa 24,000 (2011 Census) which is considerably boosted year round due to the fast passenger links with Hovercraft and Fast Cat to Portsmouth and Southsea and also the car ferry from Portsmouth to Fishbourne. (The hotel is approximately 8 minutes away from Fishbourne Terminal).

DESCRIPTION
The Business

The hotel has been established for over 26 years with this being only the second owners. During their occupation (now in the 13th year), the hotel has earned a good reputation for clean and comfortable accommodation and a high level of service. In this advantageous location Abingdon Lodge, with its convenient hours and competitive prices maintains an extensive base of repeat clientele while continuing to attract new clients.

The Lodge offers en suite accommodation at very good rates ranging from £35 for single occupancy in the low season to £70 for double/twin rooms in the high season.

The business is very easy to run by the proprietor and three/four part time housekeepers during the peak season.

The Abingdon has operated as a ‘Travel Lodge’ type, room only basis but offers guests the option of a continental breakfast if required.



ACCOMMODATION
This impressive double fronted property offers accommodation over 4 floors, with 16 letting rooms comprising seven doubles, five twins, three family rooms and three single rooms, plus two suites with separate entrances and an interconnecting door to accommodate larger parties.



All rooms offer en-suites, some with showers and baths, all have tea and coffee making facilities, fridges and flat screen televisions with DVD players and Freeview. Free Wi-Fi is also available to guests.

To the rear of the property is a generous car park offering free parking for at least 10 vehicles leading to a patio area with outdoor seating and the generous reception area.

The well-proportioned owners’ accommodation with separate entrance comprises bedroom, bathroom, living room and kitchen. This unit is separately rated for Council tax, Band A, and could be let either as another suite for guest accommodation or as a residential apartment to further increase the business.

The property also offers a premises licence for the sale and consumption of alcohol and an integrated fire alarm system.

This property offers a fantastic opportunity with potential to build on the existing business levels and customer base and has a proven history of positive accounts, these can be shown to bone fide applicants, once a viewing has been undertaken and a non-disclosure agreement signed.

The business has an online booking system on their own website and also utilises other booking agents such as Tourism South East, Visit England, Laterooms.com, Expedia.com, Booking.com, Isleofwight.co.uk, and HRS.com.


SERVICES
The property benefits from mains gas, electric, water and drainage.
TERMS
This is a retirement sale and our client is asking £525,000 for this freehold property, to include fixtures, fittings and goodwill.

The website will also be included in the sale, www.abingdonlodge.com, with virtual tour photography and direct online booking system.

Our client will also provide full familiarisation, training and good handover period as part of the sale if required.

Please contact Hose Rhodes Dickson on 01983 527727 for any further information or initial enquiries.

OUTGOINGS
The current rateable value is £8,000, using the UBR of 0.479 this makes the rates payable approximately £3,832 per annum, this is without any applicable small business rates relief which the property would qualify for. A separate application to the IW Council will need to be made in respect of this.
PARKING NOTES
Off Road Parking for several vehicles.
VIEWING
All viewings strictly by appointment, to be arranged via HRD Commercial. Please contact 01983 527727.
Agents Notes Our description of any appliances and/or services (including any central heating system) should not be taken as any guarantee that these are in working order. None of the statements contained in these particulars as to this property are to be relied upon as statements or representation of fact nor is it intended to form any part of any contract.
Especially if travelling long distances, if there is any point of particular importance, please contact the office who will be pleased to clarify the information.
Floor plans are a schematic and are for guidance only. All measurements are approximate. Please note that if our photographs depict the property in a furnished condition, on completion all furnishings will be removed unless specifically mentioned elsewhere as being included in the sale.

LOCATION

Location: 19-20 West Street, PO33 2QQ
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