Enjoying a stunning location on the seafront at Ryde, overlooking the Solent, the Prince Consort building was formerly known as the Royal Victoria Yacht Club and was built at a cost of £4,500 and completed in 1847, with the foundation stone having been laid by Prince Albert in the spring of the previous year. Unable to enter the Royal Yacht Squadron at Cowes, which was a male-only establishment, Queen Victoria effectively set up the Royal Victoria Yacht Club as a rival.
The Yacht Club was based in the building until 1966, after which it has had a varied history, having initially traded as a restaurant. In more recent years, the upper two floors have been converted into stunning apartments enjoying wonderful views and the convenience of a town centre location. The lower two floors were last in use as a call centre but have lain vacant for some years.
The freehold of the building is now offered for sale with scope and potential to bring the lower two floors back into meaningful use. Previous, though now lapsed, Planning Permissions were achieved in 2016 for conversion of the ground floors with both residential and commercial options and usage.
Local Planning Authority
Isle of Wight Council. Tel: 01983 823552. Website: iow.gov.uk.
Lapsed Planning
Planning Permission was granted by Isle of Wight Council under ref: P/01130/15, dated 29th April 2016, for proposed internal and external alterations, to include replacement of access gates, to refurbish lower ground floor offices and to convert part of lower ground floor and ground floor to a residential unit (revised scheme) (revised description), subject to conditions.
Planning Permission was granted by Isle of Wight Council under ref: TCPL/24772/P0000705/02 for conversion of the upper ground floor into a single residential unit and refurbishment of ground floor offices, subject to conditions.
These consents were not actioned and have now lapsed.
Accommodation
The lower two floors have most recently been in commercial usage as a call centre and supporting offices but include on the ground floor the grand reception, being the triple-aspect reception room overlooking the Solent, formal reception, state room and a range of smaller rooms, including kitchens, ladies and gents cloakrooms and ancillary offices. The lower ground floor offers a further range of offices and supporting infrastructure.
First Floor Apartment
Sold on a 999-year lease from 1st December 2005 at a current ground rental of £100 per annum.
Top Floor Penthouse Apartment
Sold on a 999-year lease from 1st December 2001 at a current ground rental of £100 per annum.
Outside
Car parking to the front, and walled garden to rear which includes additional car parking accessed via the adjoining car park, subject to a licence arrangement.
Auctioneers Note
Vehicular access to the walled garden/car park is subject to a 125 year lease from 14th November 2002, at a current rental of £2,000 per annum.
Tenure
The freehold is to be offered, with the first floor and penthouse level apartments sold on a long leasehold basis, paying a combined ground rental of £200 per annum and contributing to the management and maintenance of the building.
