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Hampshire hoteliers buy Isle of Wight hotel

06 April 2006

Two hoteliers from Hampshire have bought the Fernbank hotel on the Isle of Wight off a guide price of £795,000.

New owners Stephen Woolley and Phil Andrews previously owned the Sandringham hotel in Southsea.

Their new venture, which is believed to date back to the early 1900s, is located in the thatched village of Shanklin on the island.

The two-star hotel includes 19 en-suite bedrooms, a guest lounge and a 20-seat conference room.

A recent refurbishment has added an 80-seat conservatory restaurant and a rear extension housing an indoor swimming pool, a Jacuzzi and a sauna.

The property also has parking to the front and side and a two-tiered garden that includes a patio area.

"The Fernbank hotel trades on a bed and breakfast basis, but also has an extra restaurant which provides dinner to both guests and local residents," said James Finn at the Winchester office of Christie + Co, which handled the sale. .

"The business manages to capture quality leisure trade as well as corporate trade during the week and benefits from wedding trade and general functions."

By Angela Frewin

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