Residential development for sale
Property description & features
LOCATION
Situated on Shanklin's award winning seafront with spectacular sea views is this former bar, restaurant and hotel. Shanklin is located to the East of the island with a population of circa 9,100 (census 2021).
The town boasts one of the busiest esplanades on the Island supported by many restaurants, bars and leisure facilities. There is no shortage of entertainment for the children, with newly invested recreational facilities such as the recent investment into the new pitch and put and existing indoor play areas.
The main town of Shanklin itself offers great retail shopping, pharmacies, cafes, churches and is on a main bus route with easy links to other Island hotspots such as Ryde, Newport, Sandown and Ventnor.
DESCRIPTION
The property is situated on Shanklin Esplanade and has amazing direct sea and beach views. Offering parking to the rear, this rare opportunity would suit a variety of developers/investors.
The property is a former trading hotel with planning permission to convert to 3 x holiday apartments and 1 x residential townhouse with the following accommodation:
Holiday Accommodation
Ground Floor - approx. 140 sq m -
Apartment 1 - offering 2/3 bedrooms (2 with en-suite) with open plan living/dining room, separate kitchen and large patio to the front overlooking the Esplanade with direct sea views.
First Floor - approx. 140 sq m
Apartment 2 - offering 3 bedrooms (1 with en-suite) additional family bathroom and separate kitchen/diner and living room with doors onto large balcony overlooking the Esplanade with direct sea views.
Second Floor - approx. 140 sq m
Apartment 3 - offering 3/4 bedrooms, 1 with en suite and 2 with direct balcony access, additional family bathroom, separate kitchen/diner and living room with access to balcony with direct sea views overlooking the Esplanade.
Residential - Un-restricted Townhouse approx. 160 sq m
Located to the rear of the property this unit will offer 3 bedrooms, separate kitchen, living room with dining space, home office, games room/2nd lounge, 2 family bathrooms and a great size balcony area to the rear plus 2 parking spaces.
Each unit will have allocated parking, there are 5 parking spaces on site.
SERVICES
The property has mains electric, gas, water and drainage.
TERMS
Our client is asking Guide Price £550,000 for this great opportunity.
PARKING NOTES
Parking area to the rear of the property.
PLANNING
Planning permission was granted in July 2021. Planning reference no: 20/01648/FUL.
VIEWING
All viewings to be arranged via HRD Commercial. Please contact[use Contact Agent Button] or [use Contact Agent Button]
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