The Ale & Oyster
Richard Hotel, Esplanade
Isle of Wight
PO38 1JX

Freehold Seafront Bar/Restaurant Investment

  • Popular bar/restaurant in attractive Victorian seaside town
  • Prime location fronting Ventnor Beach with views over Ventnor Bay
  • Popular tourist destination
  • Town centre occupiers include Tesco, Co-op Food, Boots the Chemist and Lloyds Pharmacy as well as various local cafés and restaurants
  • Lot
  • Auction
  • Rent
    £17,400 per Annum Exclusive
  • Status
  • Price*
  • Sector
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • The Ale & Oyster<br>Richard Hotel, Esplanade<br>Ventnor<br>Isle of Wight<br>PO38 1JX
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* More information on the term "price" can be found here

Property Information

11 miles south of Newport
12 miles south of Ryde
15 miles south of Cowes
23 miles south-west of Portsmouth
A3055, A3, M27, M275
Shanklin Station
Ferry Portsmouth Harbour to Ryde (22 min - passenger)
Portsmouth to Fishbourne (45 min - car)
London Gatwick and Southampton Airports

Ventnor is a picturesque seaside town on the south coast of the Isle of Wight with a population of around 6,000. Ventnor has benefited from significant investment in recent years with the OceanBlue Quay and harbourside café bolstering tourism and employment, while 10 minutes to the east lies Steephill Cove, one of the most secluded and picturesque areas on the Island. With its micro climate and fast access from London (under 2 hours), the Isle of Wight remains a popular and attractive holiday destination.
The property is located on the western end of Esplanade fronting the popular sandy Ventnor Beach with fantastic sea views. There is a public car park close by and on-street parking in front of the property. Occupiers on Esplanade include a collection of restaurants, cafés and hotels with other retailers including Tesco, Co-op Food, Boots the Chemist and Lloyds Pharmacy in the town.




The property forms a three storey building, comprising a 76 cover ground floor bar and restaurant, with four flats arranged over first and second floors which have been let on long leases.


VAT is applicable to this lot.

Completion Period

Six Week Completion


Band D (Bar/Restaurant). See legal pack at

Tenancy & Accommodation

FloorUseGross Internal Floor Areas (Approx)TenantTermRent p.a.x
163.00 sq m
(1,755 sq ft)
t/a Hello Sailor (1)
Approximately 8.5 years
from 16/10/2013 until
31/03/2022 (outside the
provisions of the
Landlord &Tenant
Act 1954)
First &
Flats 1-4
Not measured
INDIVIDUALSHeld on 4 leases, each
for a term of 999 years
from 08/03/2012 until
07/03/3011 each at
£100 per annum
163.00 sq m
(1,755 sq ft)

(1) Previously trading as The Ale & Oyster, the tenants have been running the business since 2013 and have recently refurbished and re-branded the premises.
NB: The seller has served notices on the residential tenants, pursuant to section 5B of the Landlord & Tenant Act 1987. No acceptance notices have been received from the tenants within the permitted period and therefore the residential tenants cannot exercise their rights of pre-emption on this sale.

Property Documents

  • Catalogue Page
    Updated Date
    File Size
    556 KB
    View PDF
  • Site Plan
    Updated Date
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    File Size
    150 KB
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  • Memorandum of Sale
    Updated Date
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    File Size
    694 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    File Size
    585 KB
    View PDF


David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484
George GoucherGeorge Goucher +44 (0)20 7034
Seller's Solicitors
Shepherd and Wedderburn LLP Condor House, 10 St. Paul's Churchyard
Lauren McLeod 0207 429  Scarlett Leigh 0207 429

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