Opportunity to acquire 41 studio apartments benefitting from a prime Plymouth City Centre location, generating profitable returns
The building was originally constructed as offices. In 2014 it was converted to C3 residential. The property was used as student accommodation until 2019, and is currently being successfully operated as a hotel.
The property is arranged across the basement, ground and three upper floors. There is an internal lift and staircase which provides access to each floor. The building is in excellent condition and is refurbished on a rolling basis.
The building benefits from many of its original features, including large sash windows (which have recently been double glazed) and high ceilings.
At basement level is a communal laundry room, linen store, office with WC and staff room.
To the front of the building on the ground floor and accessed separately are two retail units. Unit 1 has three years left, unit 2 is due to be renewed. This is available by negotiation.
ACCOMMODATION
Accommodation is provided across 41 studio apartments. Each apartment comprises an en suite bathroom and fully equipped kitchen. The breakdown of the room categories is as follows:
Double - 22
Single - 5
Family twin - 7
King - 5
Double deluxe - 2
Total - 41