The Royal Esplanade Hotel, 16 Esplanade, Ryde, PO33 2ED

The Property dates from the Victorian era and comprises a Grade II listed substantial mid-terraced property, formed of two buildings.

The Western facade comprises half of High Victorian, painted brick construction arranged over three storeys and attic. The main block features an elaborate brick eave cornice of paired brackets with intricate diamond cut brick and rendered detailing. Frontage comprises rounded corners and recessed gabled bay. There is an ornate cast iron balcony to first floor of the main block and second floor of recessed bay. The second floor of the main block provides individual balconies of the same style.

The eastern portion dates to c. 1830 comprising three storeys of stucco façade with recessed, sash/ glazed windows under a flat roof. The Property lies within a fully developed site with terrace to rear. The site extends to 0.41 acres (0.17 hectares).

The Property benefits from a sea facing position on the Ryde Esplanade with picturesque views of the Solent. Situated directly opposite the Ryde Hoverport and Pier, the Property is 2 minutes from the nearest beach. Directly to the south of the Property is Ryde town, with its retail high street offering guests a good choice of restaurants, bars, café’s and shops.

Ryde is the largest town on the Isle of Wight and demand drivers include the annual Wight Scooter Rally, the International Classic Car Show and the Isle of Wight music festival.

Harry’s Bar and Brasserie was refurbished in 2017 and is open to both residents and non-residents providing a lounged style dining experience. Décor is inspired by Bogart and Casablanca and therefore is classic in design comprising patterned papered walls and use of oak cladding to part walls and ceiling. The bar area is cosy in feel and comprises exposed brick walls, high chairs and pool table.

The main Hotel Bar & Restaurant is predominantly used by resident guests, serving breakfast, lunch and dinner. Both the bar and restaurant areas underwent refurbishment in 2016 however have retained more traditional furnishings and decoration. The bar and restaurant are linked to both the Esplanade Lounge and Coach House. The Coach House is predominantly used for functions/ events and provides both new and old spaces. An open atrium provides a good level of natural lighting, in contrast to the cellar bar. There is a purpose-built dance floor and exclusive ladies and gentleman’s WC’s.

The Coffee Lounge is located adjacent to the Coach House, allowing for the rooms to be adjoined as required, providing flexibility. Entrance to the Hotel is directly from the Esplanade, where reception is immediately
facing on arrival.

All fixtures and fittings are included in the sale. An inventory will be provided to prospective purchasers.

The property is held on a long leasehold interest under two leases, the first of which has 815 years unexpired and the second with 828 years unexpired. The combined rent for both leases is £31.70 per annum with no rent reviews.

PLEASE NOTE: The Vendor has agreed terms with the freeholders to acquire the long leasehold interests of both Land Registry Titles. Therefore the interest for sale is the Freehold of the property in its entirety.

The property is connect to mains water, gas, electric and drainage.

The Hotel comprises 70 en suite guest rooms of various grades and sizes ranging from single to family rooms arranged over upper floors. Rooms are designated a grade dependant on their size and outlook with guestrooms to the front of the Property being the highest in demand, due to their coastal views. The rooms are configured as follows: 15 Singles, 18 Superior, 12 Premuim and 25 Classic.

The majority of the letting bedrooms and en-suite bathrooms have been refurbished over the last three years.

Outsider rear 'al-fresco' decking area which is furnished with dining tables and chairs and is used for Summer dining.

There is no owner's accommodation on site.

The hotel has been modernised and refurbished, providing a quintessential traditional coastal resort experience and has established a great reputation within Ryde and the Isle of Wight. The owners are now seeking a sale in order to concentrate on their other business ventures, they reluctantly believe that now is the correct time to allow The Royal Esplanade to develop under new owners. The mix of business has brought significant repeat patronage from both corporate and leisure customers and more importantly, local residents who have supported the business.

There is enormous potential in the business going forward, particularly during the peak Summer months when revenue significantly increases, clearly demonstrating the headroom on capacity for both wet and food sales alongside accommodation income.

The business has a full management team in situ.

We have been provided with the Management Accounts for the year ended 2023 showing Net Turnover of £1,308,729.

The Ryde Esplanade Hotel Rateable Value as of April 2017 is £62,500

We have been advised that the Property benefits from a valid Premises Licence.

The Coach House function room has a Civil Ceremony Wedding Licence.