The Ocean Hotel in Sandown, which has become an eyesore in the seaside town in recent years, has been sold.
Phoenix Commercial Property Development Limited has taken on the historic property having purchased it from the joint liquidators of the collapsed Carlauren Group. The company has also taken on The Auckland House Hotel in Shanklin, which was also owned by Carlauren.
The properties have been purchased with the investor leases in situ and Phoenix will negotiate with those leaseholders in respect of further development and use of the properties.
It’s said that the new owners are keen to engage with the local community and heritage groups, with an intention to clear up the site as soon as possible.
Local councillor Ian Ward has taken to social media to confirmed that the new owners are in full possession and are well aware of the draft Enforcement Order to clear up the site.
Ian has said:
“Well, after many difficulties, progress has been made. This is really good news for Sandown!”
Carl Jackson, CEO of Quantuma business advisory firm, has said:
“These were difficult and protracted negotiations which have turned out successful given the current circumstances and the outcome will benefit the companies and the investors. All of the companies listed in the sale were insolvent and this transaction now gives a chance for the properties to be funded in the future.”
So,does that mean another 5 years of f’in about ???
it is not good news, it will be benefit hutch flats in no time.
The only way to improve Sandown would be to Bulldoze it flat.
What is planned for the Ocean, does anyone know????
Don’t quote me on it but I have heard rumours of a London housing association interested in the said site,coupled with the salvation army and rehabilitation center and also some swings and youth center and maybe even a cafe for the homeless, let’s hope so, Jesus loves you x