THE OCEAN Hotel in Sandown has been sold to the Care Home Group Limited for around £2.695,000.

The hotel will now be refurbished to provide luxury hotel accommodation and care for older guests.

News of the proposed sale was first revealed in the County Press earlier this year.

The Care Home Group has already bought the former Auckland Hotel in Shanklin where it aims to provide a range of services, from daily visits to full-time care at the hotel, through its care proving arm, Caring Communities.

Ed Bellfield, Regional Director at Christie & Co’s Winchester office who handled the sale of the Ocean Hotel said: “This was a fantastic opportunity to acquire a significant property in an enviable location and we received high levels of interest from both national and international investors attracted to the UK market.

“We were delighted to have facilitated the sale on behalf of our clients, who are now looking forward to retirement and wish The Care Home Group success with their exciting new venture in Sandown."