Union Street, Ryde, PO33 2LG

Guest House / Hotel for sale

£845,000


Well known hotel in prominent position within the seaside town of Ryde. 24 bedrooms, some with sea views.

LOCATION
Offered for sale is Yelf's Hotel, a very well-known and popular trading hotel in a fantastic central location in Ryde.

Ryde is the largest town on the Island by population (circa 32,000 2011 census) and boasts miles of glorious sandy beaches.

There is the transport hub close by with train and bus links to the rest of the Island plus Fastcat and Hovercraft to Portsmouth.

Yelf's Hotel has 24 en suite letting rooms and suites in this Grade II listed building.

DESCRIPTION
The ground floor includes a restaurant, lounge bar, conservatory, function room, dining room, library and patio outdoor seating area.

Access is from Union Street. There are 50 covers within the lounge bar and a further 20 in the conservatory to the rear. The large dining/function room is capable of accommodating more than 100 people and is also used as a breakfast area for the hotel guests.

The commercial kitchen is situated just off the dining room, while the basement houses storage and the boiler room.

The library to the front of the building can accommodate small meetings, the Dutch Room which offers approx. 30 covers and a further function room with access to the patio.

The letting accommodation is arranged over the floors above the public rooms. The rooms offer a mix of sea views and town views.

The hotel is a popular wedding destination and tailors packages to suit. Also the space available provides ample amenities for all types of functions.

Please see out client's own web site for further information concerning the hotel https://www.yelfshotel.com.

The vendor has advised that the average income per annum for these 24 bedrooms is circa £253,000, also to be taken into account is food sales of £344,000 and bar sales of £300,000.

There is also the opportunity to purchase further properties in this portfolio, please see below:

53 Union Street, Ryde

Grade II listed property with ground floor and basement commercial let as the Black Sheep Bar at £34,000 pa on a 15 year tenancy from 2008. The first and second floors offer 7 bedrooms & 2 offices over, currently utilised as part of Yelf’s Hotel but will be able to be purchased as one block. Freehold £550,000

25 Union Street, Ryde

Grade II listed property with ground floor commercial unit currently let to Ladbrokes at £31,000 pa on a 15 year lease from October 2008. With 9 rear ground floor and first floor letting units and paved car park to the rear.

Freehold £550,000.

Car Park adj 18 Union Road, Ryde

Adjacent to No. 18 Union Rd. With planning for six apartments.

Freehold £180,000.

TERMS
Price Guide of £845,000 for the premises as a whole and to include fixtures, fittings and goodwill + stock at valuation.

VIEWING
All viewings 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.

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Manager

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Negotiator

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Administration

Tel: 01983 527727 Email Us: commercial@hrdiw.co.uk