Negotiations were ongoing at the time over The Ocean Hotel s future. On April 21, 2021 the freeholds to seven properties, including the two Isle of Wight hotels, were passed to Phoenix Commercial Property Development Limited (PCPD). The sale also included Eton House and Coverdale Court, Yeovil, Somerset; Hurst Manor Nursing Home, Martock, Derbyshire; Rosewell Care Home, Bristol; Clinton House/Tarrant House, St Austell, Cornwall; and The Coppice Hotel, Torquay, Devon.
The Auckland Hotel, Shanklin. Organised by Carl Jackson, of business advisory firm Quantuma LLP and Philip Duffy, of Kroll Ltd, the deal sees the investor leases remain in situ. PCPD says it will now negotiate with leaseholders about the further development and use of the properties.