Abingdon Lodge20 West Street, Ryde, IW, PO33 2QQ 200290

CHARTERED SURVEYORSCOMMERCIAL PROPERTY AGENTS

RETAIL

INDUSTRIAL

OFFICE

INVESTMENT

BUSINESS TRANSFER

DEVELOPMENT LAND

MANAGEMENT

RENT REVIEWS

LEASE RENEWALS

VALUATIONS

ARBITRATION

ACQUISITIONS

EXPERT WITNESS

HISTORIC BUILDINGS

CONSULTANCY

DIRECTORS

NICK BUCKLE BSc(Hons) MRICS

GAVIN CHAMBERS BA(Hons)

GRANT HIGGS

JAMIE WHITTLE BSc(Hons) PgDipSurv MRICS

SHAUN WOOLFORD MBA BSc(Hons) Dip Proj Man MRICS

REGISTERED OFFICE

62 High Street, Newport, Isle of Wight PO30 1BA

Registered in England and Wales No. 6477562

Vat No. 928 0215 39

62 HIGH STREET NEWPORTISLE OF WIGHT PO30 1BA

TEL 01983 822555___________________

MERRITTS FARM

WHITE HORSE LANE

WATERLOOVILLE PO7 6QL

TEL 02392 257224___________________

EMAIL enquiries@gullyhoward.com

www.gullyhoward.com

PROFITABLE GUEST LODGE WITH OWNER'S FLAT

Prominent, well maintained, Guest Lodge offering2 guest suites plus 16 letting rooms in busy townlocation, close to local amenities

Separately accessed owners apartment andparking for up to 10 cars

Newly refurbished, modern guest suites & lettingrooms, trading all year round with good accounts

For Sale with offers invited "in the region of" £695,000 for the business premises, ffgw + s.a.v.

LOCATION

Abingdon Lodge sits prominently on the corner of West Street and Green Street, one of the mainjunctions approaching Ryde. Just on the outskirts of Ryde town centre, Abingdon Lodge is popularthroughout the year attracting clientele visiting the Island on business, contractors, students attendingthe local independent school and, of course, holiday-makers during the ever extending holidayseason. Abingdon Lodge is within easy walking distance of Ryde's town centre, which boasts awide range of shops, pubs and eateries. Ryde is the Island's second largest town with a population of25,000, considerably boosted all year round due to the fast passenger links by Hovercraft andCatermaran to Portsmouth and Southsea and also the car ferry from Portsmouth to Fishbourne. It isjust 8 minutes away from the terminal.DESCRIPTIONA most attractive and imposing building, Abingdon Lodge has capacity for 2 Guest Suites and 16guest letting rooms arranged as per the room schedule overleaf. All letting rooms are en-suite, havemini fridges, tea & coffee making facilities and wall mounted flat screen televisions with Freeview &DVD. The Abingdon Suite benefits from its own street entrance, sleeps 6, kitchenette and shower &WC facilities. An interconnecting door joins with The Lodge Suite with similar accommodation. TheAbingdon Lodge trades on a room only basis but offers a continental breakfast upon request. Thistherefore provides a business that can be easily management run with minimal staffing required. There is also currently a liquor licence for the property providing further opportunities to future ownersif required OWNER'S ACCOMMODATION Separately accessed off West Street and comprising:- Double bedroom, lounge, domestic kitchenand bathroom. The comfortable owner's suite has the added advantage of a separate gas firedboiler, metered utilities and, indeed, separate rating valuation, offering the potential to either sell or letindependently if required.

THE BUSINESSTraded by the current owner on a "year round basis", Abingdon Lodge offers qualilty ensuite accommodation and charges from £35 forsingle rooms in the low season to £70 per room, per night, for double/ twin rooms in the high season. Operating as a Lodge (room onlybasis) for several years, guests do have the option of a contintental style breakfast at an additional £5 per person, per day if required. Thismakes the day to day running far less labour intensive than a traditional bed and breakfast establishment and the business could easily bemanagement run with minimal staffing. Refurbished by the current owner the property provides modern and well maintainedaccommodation, mainly appealing to guests prefering the flexibility of offsite dining. As a result we are advised that occupancy levels arerelatively high which contributes to the profits achieved. Accounting information will be made available to bona fide applicants afterinspection. In 2010/ 2011 all rooms were upgraded with flat screen Freeview/DVD televisions. Free wifi is also available throughout theaccommodation. The business has an attractive and functional website that allows the user to find out more about the hotel and theservices on offer. www.abingdonlodge.com This very easily run business has been established for over 25 years with this being only thesecond owner. The current owner solely manages Abingdon Lodge, which represents a superb opportunity for a buyer wanting to makean investment or experience a life style with home and income.TERMSFor Sale with offers invited "in the region of" £695,000 for the freehold premises, goodwill, fixtures & fittings of the business, plus stock atvaluation. UNIFORM BUSINESS RATERateable Value - £8,000(2017/2018) � £0.479p without small business reliefInterested parties should make their own enquiries of the Isle of Wight Council to establish any rate liability that may be applicable bytelephoning 01983 821 000. COUNCIL TAXWe are advised by our clients that the owner's apartment falls within Band A for Council Tax. VIEWINGStrictly by appointment with sole agents Gully Howard Commercial Property. Contact Gavin Chambers or Jane Bauldry on 01983 301 434,Suite 12 Salisbury Gardens, Dudley Road, Ventnor PO38 1EJ. E: gchambers@gullyoward.com or jbaldry@gullyhoward.comUnder no circumstances should any direct approach be made to staff or personnel within the property as they will be unable to assist you.

Whilst these particulars are believed to be correct neither the agent nor the clients guarantee accuracy nor are they intended to form part of any contract. We have not carried out any survey. All offers are subject to formal contract. Interested parties must satisfy themselves independently as to VAT in respectof any transaction. Gully Howard Chartered Surveyors and staff are not able to give any warranty or representation in connection with this property andhave not tested any plant, purchasers must satisfy themselves as to its condition. Plans are shown not to scale and for identification only, dimensions areapproximate and location plans may not show all current occupiers.

Abingdon Lodge, 20 West Street, Ryde, Isle of Wight

Car Park to the rear

Side entrance to car park & reception

Separate access to owner’s apartment

Room 10