Isle of Wight site for sale
The iconic Isle of Wight site on the Esplanade in Cowes is up for sale.
The iconic Isle of Wight site on the Esplanade in Cowes is up for sale!
Situated on prime foreshore land, the site has been vacant since fire destroyed the hotel in 2010.
Over the years there has been fevered speculation on its fate.
Greg Price from Alex Scott Real Estate in Cowes said the land was being offered for sale by expressions of interest.
“This is a genuine vendor,” Greg said.
“They aren’t in the hotel businesses so decided it was better for the land to go to someone more in tune with hospitality and tourism.”
Divided into five blocks, there is the option to sell the blocks individually or for all blocks to be bought together.
The land measures 8624 square metres (approximately), with individual blocks ranging in size from 4047 sqm to 1012 sqm.
The biggest lot has water frontage and is located on the corner of The Esplanade and Bass Avenue. A second block measuring 1541 sqm is also on the Esplanade.
The three remaining blocks along Bass Avenue are all 1012 sqm.
The land is zoned “mixed use” and provides the opportunity for significant development.
The sale has been described as the most significant “commercial property ever offered on Phillip Island”.
Expressions of interest close on January 20, 2021.
