The 145-year-old Totland Pier on the north west coast of the Isle of Wight has been placed on the market for £3.5m, just five years after the current owners invested £4m in renovating and redeveloping the 140-metre structure.

Totland Pier has been placed on the market, with the 145-year-old structure on the north west coast of the Isle of Wight listed with agency Spence Willard for £3.5m.

The pier benefitted from a major £4m redevelopment five years ago, which added two new hospitality units to the structure, with planning permission granted for further investment.

“The pier is now ready for a variety of uses, including as a bar, restaurant or residential and holiday accommodation” reported the Isle of Wight County Press. 

“Although currently closed, the pier boasts a bistro with a fully equipped commercial kitchen, bar areas and dining spaces across two floors. It also has an external servery, known as The Hatch, which could be used for takeaway offerings like ice cream.”

Isle of Wight Council has already granted permission to open a two-storey restaurant in the building at the seaward end of the pier, capable of accommodating approximately 220 covers, with the business also able to make use of 20 leasehold moorings that would allow customers to arrive by boat.

As well as the existing premises licence, permission has also been granted to extend the pier head,  following the purchase of an additional section of seabed. 

“The pier is located in a coastal village known for its sandy beach, clear waters and views toward The Needles and the Hampshire coastline,” added the County Press. 

“The Isle of Wight has seen a resurgence in domestic tourism in recent years, with the western coast in particular attracting visitors from Sandbanks, Lymington and the London area.”