RYDE Arena has appeared on Rightmove as a commercial property to rent.

Available through Savills, it states it is available at £7,917 pcm and totals 27,850 square footage of available space.

The former ice rink, which has long been empty and unused, stands in a prominent position on Ryde seafront.

The Isle of Wight Council owns the freehold, and had been in arbitration proceedings with leaseholder AEW, to try to get the building back into reasonable repair for use by the community.

Legal action has now ended and no agreement could be reached.

AEW purchased the ‘head’ lease in 2014 and came to a lease arrangement with a local community interest company to run the facility, but it became apparent insufficient income could be generated to run the ice rink on a viable basis.

It appears the lease is now available for rent, although the particulars also states there is 'development potential'.

Isle of Wight County Press: Ryde Arena. Picture courtesy of Rightmove/Savills.Ryde Arena. Picture courtesy of Rightmove/Savills.

The council previously indicated it was not willing to accept an alternative proposal put forward by AEW of replacing the arena with retail use in such a key and sensitive seafront location.

The details on Savills' website states: "The building was previously in commercial leisure use and offers excellent column free floor space.

"The property extends to approximately 27,850 sq ft (2,587 sq m) gross internal area arranged mostly at ground floor, with ancillary space at first floor, on a site of c.0.55 acres (0.22 hectares).

"The property is held long leasehold from the Isle of Wight Council on a 125 years lease from 9 February 2011 (119 years unexpired) at a rent of £1 per annum exclusive.

"Rental offers are invited in the region of £95,000 per annum. Terms to be agreed.

"Ryde Arena is temporarily listed as an Asset of Community Value and a registration of interest to purchase has been made by a local community group. The six-month moratorium delaying a disposal following the registration ended on 24 August 2017, therefore our client is free to complete an open market or any other sale."