Hotel/guest house for sale in Palmerstone Road, Shanklin, Isle Of Wight PO37

Location

Harrow Lodge occupies a prominent position on the corner of Palmerston Road and Shanklin's pedestrianised Eastcliff Promenade, forming part of the popular Cliff Walk, which attracts passing trade to both the garden kiosk and licensed bar. The cliff top location affords stunning, far reaching sea views across Sandown Bay and out towards the English Channel. Guests staying at Harrow Lodge can enjoy the convenience of the nearby public lift which connects with Shanklin Esplanade and its long sandy beaches, many attractions and leisure facilities. The town of Shanklin offers a variety of restaurants, bars and retailers in addition to the popular Shanklin Old Village and Shanklin Chine and Shanklin Theatre.

Description

Harrow Lodge is a detached Victorian property extended to provide further guest accommodation, which offers a great deal of potential to the right buyers. It has been operated by the current owners since 1988 and is now available for sale due to their retirement. The dog-friendly Hotel currently offers 20 Ensuite Rooms in total, 4 Family Rooms, 8 Rooms which can be configured as Double or Twin, and 4 Single Rooms. Four of the rooms have sea views with 2 of these also have a front balcony and the other 2 having balconies to the side. Wi-Fi is offered throughout the property. Guests are able to enjoy breakfast in the dining room which caters for up to 50 covers in any one sitting. Drinks and light snacks are served throughout the day in the bar/lounge, which is also open to locals, and can cater for guests to dine in the evenings if they choose to. This area also extends out on to a large decked area, with seating for a further 20 covers and offering far reaching panoramic sea views. In addition, a Kiosk within the gardens serves hot and cold snacks, cream teas and ice creams throughout the season. A floor plan of the hotel is available upon request form the agents.

Parking

Guest parking is situated alongside the hotel premises and able to cater for up to 15 vehicles.

The Business

Harrow Lodge has been operated by our clients for 33 years now and currently opens April to October and provides scope to increase profits by extending the season. Turnover is circa £406,000 for year ending 2022, with a net margin of circa 30%. Further detailed financial information is available to bona fide applicants following a viewing of the premises

Awards

Harrow Lodge is rated as Excellent 4.5 on Trip Advisor and as Fabulous 8.8 on

Uniform Business Rate

Rateable Value - £22,850

(2023/24) - £0.512p without small business relief. Interested parties should make their own enquiries to confirm any rate liability or rate concession that may be available by contacting the Isle of Wight Council, Business Rates, on .

Terms

For sale with offers invited "in the region of" £675,000 for the Freehold of the Property, the business, trade fixtures and fittings, plus stock at valuation on completion

Viewing

Strictly by appointment with sole agents Gully Howard Commercial Property, Suite 11 Salisbury Gardens, Dudley Road, Ventnor PO38 1EJ. Call Gavin Chambers or Morgan Williams on . E: Or

Under no circumstances should any approach be made to staff or personnel within the hotel as they will be unable to assist you