OK
In our opinion I would think the Sandringham is about best in Sandown to suit those needs, they have a car park to rent at £2 a day (2004 prices) just 5mins down the road, in addition to the car park you fight for at the front . Exellent sea views (extra but worth it) but the balconies are a shared (not partitioned).
It has a bar with large lounge, fairly reasonable standard seaside food.
The rooms of reasonable decoration I guess 70/80s.
The best we have found so far in Sandown.
For real luxury you may have to move away from Sandown.
PS A lot of the Hotels will pay you car ferry if you stay with them.