Property new instruction
2 bedroom Commercial in Ventnor, Isle of Wight, £280,000

Location:
Situated in a prime location on Victoria Street, just a stone’s throw from Ventnor’s bustling town center, The Volunteer Inn is perfectly positioned in a high-density residential area with excellent access to amenities. Several Council-operated car parks are nearby, and there’s roadside parking directly outside the pub. The town has undergone significant investment, including the addition of a Tesco Express in the High Street and development around the picturesque Esplanade, which now features a small harbour. With a population of approximately 6,000, Ventnor attracts a large number of visitors, especially during the extended summer season, thanks to its renowned Music and Arts events and a growing selection of high-quality eateries and cultural attractions.

Owners' Accommodation:
The first-floor, 2-bedroom owners’ accommodation is accessible separately and has been extensively renovated and decorated by the current owners, providing a comfortable living space above the pub.

History:
The Volunteer Inn has a rich and fascinating history, dating back to 1866. It is an island institution and has also served as the base for the famous Ventnor Comic Jazz Band, adding to its cultural legacy.

Premises Licence:
The current premises licence (IW050900) permits the sale of alcohol from 11am to midnight, 7 days a week. It also allows live and recorded music from 7pm to midnight, Monday to Saturday, and from 7pm to 10:30pm on Sundays.

The Business:
The pub is a highly profitable business, currently achieving a gross profit of approximately 52% of turnover. Full accounts are available to bona fide applicants following a viewing of the premises.

A Unique Opportunity for Owner-Occupiers:
The Volunteer Inn presents a fantastic opportunity for an owner-occupier, with a spacious 2-bedroom flat above the pub, offering comfortable living space while managing a successful and established business. The pub’s charming and eclectic bar area spans approximately 40.1m² (431ft²), providing a cozy yet vibrant atmosphere, complemented by a well-maintained basement and WC facilities.

Terms:
Offers are invited in the region of £298,000 for the Freehold, Business, Goodwill, and Trade Fixtures and Fittings.

Uniform Business Rate:
The Rateable Value is £4,750 for the 2024/2025 year, with a rate of 54.6p without small business relief. Interested parties should verify any potential rate liability or concession by contacting the Isle of Wight Council’s Business Rates team at 01983 821000.

Council Tax:
The flat above the premises is in Council Tax Band A.