Lot 99 Hotel With Planning For Partial Demolition; Eight Two-Bedroom Apartments And Retention Of A Smaller Boutique HotelAuction Date:
1st November 2023
Curraghmore Hotel, 22 Hope Road, Shanklin, Isle Of Wight, PO37 6EA
Situated 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
There is an addendum available to be read
in conjunction with the legal documentation.
Joint Agents
Hose Rhodes Dickson
01983 527727
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
