Another part of the former Ocean Hotel site in Sandown has been put up for auction, marking the latest move in the slow-paced redevelopment of the prominent but derelict seafront property.
In July last year, the derelict retail units at 38-39 High Street and the hotel’s car park sold for a combined £616,000 – significantly above their guide prices.
The strip of land now on the market stretches across the front of the former hotel building and serves as a link between the 2 previously sold lots.
Since last year’s auction, work has quietly begun to tidy up parts of the site. The car park has been cleared of overgrowth and debris, giving the area a more presentable appearance after years of neglect.
The newly listed plot is being marketed by Clive Emson Auctioneers and is described as a “site of interest to investors, developers and speculators”.
Despite this new movement, the central part of the site – the former Ocean Hotel building itself – remains unsold and has not yet been brought to auction.
In 2017, having been in family ownership for nearly 60 years, the 97-bedroom seafront property was sold to The Care Home Group for £2.1million. It all then went very downhill from there…
The once grand hotel has stood derelict for several years following the collapse of the Carlauren Group and subsequent ownership by Phoenix Commercial Property Development. A string of arson attacks and a legal dispute with the Isle of Wight Council have left the site in limbo.
Auction details for the newly listed strip of land can be found at www.cliveemson.co.uk/properties/263/22.
Whoever purchases this would be in a prime position to affect further development of the site as it represents a ransom strip.
One would think that the IW Council would want to be that owner, but then again with brain dead Councillors – perhaps not.
Maybe Gladwin will add it to her portfolio!!
It’s about time the derelict hotels along
Culver Parade were tarted up, another blot on the
landscape, not to mention the old Cygnet hotel.