Description
The property comprises a 9 storey (plus basement) former office building, most recently used as a combination of offices and holiday let accommodation. Access is provided via a dedicated ground floor entrance, with stairs and two passenger lifts serving the upper levels. The building is constructed around a central lightwell extending from the basement, which allows for good natural light throughout. With the exception of the eighth floor, the floorplates are largely consistent in size, although layouts vary. Each floor benefits from access to the main service core, incorporating staircases, male and female WCs and the two lifts, and all levels are also served by a secondary stairwell.

The ground floor is largely excluded from the sale and falls under separate ownership. Floors one and two are currently in office use, while floors three to six have been converted to immaculate high specification holiday accommodation. The seventh floor comprises vacant office space with planning consent in place for conversion to a restaurant, offering potential for further development. The eighth floor, while differing in layout from the rest of the building, also benefits from planning consent for restaurant use.

On the vacant office space the specification includes suspended ceilings with recessed lighting and double-glazed UPVC window units. The specification of floors three, four, five and six is to a high standard, including modern fitted kitchens and bathrooms, with decorative styling throughout. Please refer to the Savills 'Virtual Walkthrough'

Planning
The property has planning for use class E and C1 use under alterations, conversion and extension of the existing building from a mixed D1 (non-residential education) and B1 (office) use into a mixed use consisting of Serviced Accommodation (Tourism C1 use), a flexible Co-working/shared office space (B1 use) and ancillary hospitality/cafe/restaurant/event space with associated cycle and bin store granted under 7-2019-1102-BX.

Currently there are two planning permissions under consideration, which include a Variation for rewording of conditions no. 7 (Holiday apartments) of planning application 7-2019-1102-BX as described in that description of development to allow the apartments to be rented for 6 month over the winter months and shall not be occupied for anything other than holiday letting purposes during the period between Easter Monday and 30 September in any year under ref: P/25/03176/CONDR and Change of use of 2nd floor from co-working space (Class E) to 10 holiday lets (C1) and change of use of 7th floor from hospitality space to 5 residential flats (C3) under 7-2024-1102-BZ.

Local Authority
www.bcpcouncil.gov.uk

Revenue & Projections
Four floors are currently managed by holiday accommodation providers and have been operational for approximately four months. Revenue & projection figures can be made available to seriously interested parties, subject to status.

Development Opportunity
The opportunity exists to continue leasing out the holiday accommodation which is achieving month on month growth. There then exists the opportunity to convert the remainder of the building to C3 private residential, Co-living or BTR (STP). Finally, given the property's proximity to Bournemouth University a Sui Generis Student Accommodation consent may also be possible (STP).

EPC
B-35 & D90

Tenure & Opportunity
The property is available for sale freehold with vacant possession on the upper parts and the ground floor entrance hall serving them. The remainder of the ground floor and basement is subject to a long lease (999 years) at a nominal ground rent of £1pa. Offers will be considered on both an unconditional and conditional basis. Price is available on application and subject to status.

VAT
VAT is applicable and will be payable at the appropriate rate in addition.

Legal Costs
Each party to be responsible for its own legal costs incurred in any transaction.

Anti-Money Laundering Regulations
In accordance with Anti-Money Laundering Regulations, the preferred purchaser will be required to provide identification and proof of address, prior to exchange.