A historic Victorian fort is set to get a new lease of life after it was purchased this year for £120k more than its guide price.
The fort, situated off the coast of the Isle of Wight, is seeking a new operator to take over the site after an investor bought the property to lease out.
No Man’s Land Fort, also known simply as No Man’s Fort, previously operated as a hotel before being sold at auction earlier this year.
The Victorian structure went under the hammer for a whopping £1,120,000, £120,000 more than its starting £1 million guide price.
Edward Ward from London purchased the site as an “impulse buy”, as something different from his usual investments in tech stocks.
Mr Ward told commercial real estate firm Colliers: “It’s a one-of-a-kind property, and I felt like it’s an opportunity that’s unlikely to come up again,
“I know it’s a bit of a risk, given I don’t have any experience in property or hospitality, but with advances in technology like drones and improved energy management, maintaining the fort will only get easier over the next decade.”
The 150-year-old fort was formerly used as a glamorous four-star hotel and is now on the market for someone to lease it.
No Man’s Land Fort offers 23 ensuite bedrooms, five bars, a restaurant, a spa, hot tubs, and a sauna and it’s only accessible by boat or helicopter.
Ed Jefferson, from Colliers, said the fort has potential for “unconventional leisure and high-end ventures”.
He said: “This isn’t just a quirky building; it’s a rare opportunity to make a mark in a truly unique location.
“The remote location provides either great privacy or exclusivity for potential guests and clients.
“Edward is open to working with different multiple operators who recognise the opportunity to be based at this historic site.
“It could be a great location for multiple hospitality and leisure operators together, or one tenant could take the whole site, we’re open to proposals.”
The mega sea fortress spans a staggering 99,000 square feet. It was built in the 1860s as a defence structure, commissioned by Lord Palmerston to ward off a potential French invasion.
