Lot 99 - Hotel With Planning For Partial Demolition; Eight Two-bedroom Apartments And Retention Of A Smaller Boutique Hotel
Curraghmore Hotel, 22 Hope Road, Isle Of Wight, PO37 6EA
Guide Price: *
£800,000
Fees apply
Buyer's fee:Check legal pack
All fees include VAT at 20%
Holding Deposit: *£5,000
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
Traditional
Opening bid:
£780,000Bid history
0 bidsSituated in an elevated location on Hope Road, with the benefit of splendid sea views over Sandown Bay, the Curraghmore has traded as a successful seaside hotel for many years. A significant extension to the side of the existing building was added, we believe, in the 1970s. Taking account of modern trends and holiday requirements, the Curraghmore is now offered with Planning Consent to demolish the side extension to retain a smaller boutique hotel in what was the original building on the site.
The space to side of the hotel has Planning Consent for the construction of a block of eight, two-bedroom apartments which will all enjoy sea views and are considered ideal for re-sale into the local property market or, perhaps, retention for their income producing potential either from traditional letting or holiday use.
The existing hotel offers extensive accommodation to include 20 en-suite bedrooms. The new apartments will feature an open-plan living room/kitchen, two bedrooms, one with en-suite facilities and balconies.
Extending to 0.19 hectares (0.47 acres), the existing site enjoys rear vehicular access to a substantial car park via Beatrice Avenue and a parking area will be retained for both the hotel and new apartment building.
Planning
Planning Permission has been granted by Isle of Wight Council under ref: 21/01491/OUT, dated 31 March 2023 for demolition of extension; refurbishment of existing hotel; outline for two/three storey block of eight apartments with parking (revised scheme). A copy of the Planning Consent and accompanying documents may be downloaded from the Local Planning Authority website, iow.gov.uk.
Tel: 01983 823552.
Tenure
Majority Freehold with Vacant Possession with the strip coloured brown held under the terms of a 960-year lease from 25th March 1915 at a ground rent of £5.00 per annum
Joint Auctioneer
Hose Rhodes Dickson, 138 High Street, NEWPORT, Isle of Wight, PO30 1TY, 01983 527727
Summary
- Lot number
- 99
- Auction end
- 1st Nov at 14:10
- Property type
- Commercial
- Tenure
- Ask Agent
- Bedrooms
- 5+
- Bathrooms
- 0
- Council tax band
- Ask Agent
Summary
- Lot number
- 99
- Auction end
- 1st Nov at 14:10
- Property type
- Commercial
- Tenure
- Ask Agent
- Bedrooms
- 5+
- Bathrooms
- 0
- Council tax band
- Ask Agent
This property is being sold by:
Clive Emson - Hampshire, Dorset, Wiltshire & Isle of Wight
01489 564606
Unit 14, Fulcrum 2, Solent Way, Whiteley, Fareham, Hampshire, PO15 7FN
†Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
* Pricing Information
The Guide Price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide Price amount.
Bamboo Auctions and Clive Emson Auctioneers shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box above or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail.
Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by Clive Emson Auctioneers. All legal documents in relation to this property have been provided by the Vendor's solicitor. Neither Bamboo Auctions or any individual in employment with Bamboo Auctions makes any warranty as to the accuracy or completeness of any of the property information.
These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.
