The Ocean Hotel in Sandown has been sold for £2.6million by specialist property advisor, Christie & Co.
Having been under family ownership for the past 59 years, the 97-bedroom seafront property which offered fine dining experiences, a heated swimming pool and beautiful landscaped gardens, attracted significant interest and has now been acquired by The Care Home Group Limited.
As previously reported by Island Echo, the hotel is to be transformed into a luxury retirement property comprising of 60 studios and apartments.
Ed Bellfield, Regional Director at Christie & Co’s Winchester office who was handling the sale, comments:
“This was a fantastic opportunity to acquire a significant property in an enviable location and we received high levels of interest from both national and international investors attracted to the UK market.
“We were delighted to have facilitated the sale on behalf of our clients, who are now looking forward to retirement and wish The Care Home Group success with their exciting new venture in Sandown”.
