City Centre Mixed Use Development Opportunity, Devon

• LH Price: £1,850,000
The Treasury Bar, Restaurant & Buildings is a Grade II Listed property on the East end of Plymouth's famous Guildhall. Dating back to 1615, the venue boasts a rich history replete with original features. Surviving the bombings of WW11, the Treasury, once part of the Guildhall, stands as a testament to resilience, having been restored rather than demolished like many other buildings. Serving as a crucial element of the Plymouth Police HQ from 1873 to 1935, remnants of its past, like the original police lamp above the door on Catherine Street, still endure. Following its acquisition by the City Council in 1935, the building transitioned into the City Treasury, where locals once paid their rates. Today, the Treasury offers a relaxed dining experience and houses a well-stocked bar featuring an impressive selection of 35 cocktails and over 150 gins. The grand walk-in strong room remains an intriguing feature within the premises, but is just a small section of what can be garnered within the rest of the building, which remains as per when the doors closed. Currently featuring a range of rooms over 3 floors, our client’s have reached an agreement with the City Council in respect of redevelopment of the site into a boutique hotel / mixed use scheme, with plans being finalised for approval, following a successful pre application. Currently the plans are flexible to provide a range of suites and residential, the latter of which can be up to 35% of the GIA of the building. Already successfully run as a bar / restaurant, the opportunity lends itself to a developer / operator looking for a site in a key strategic location within the city in a truly iconic building, with both our clients and the city council keen to engage on the redevelopment of the site.

Location
Plymouth boasts a rich maritime heritage, stunning coastal landscapes, and a vibrant cultural scene. Situated approximately 40 miles southwest of Exeter, Plymouth is conveniently accessible via major motorway networks such as the A38 and M5, making it an ideal location for both business and leisure travellers.
As the largest city in Devon, Plymouth offers a diverse range of investment opportunities across various sectors. Its strategic location provides easy access to international markets, with the bustling port serving as a gateway for trade and commerce. The city's thriving economy is fuelled by key industries including marine technology, renewable energy, and healthcare, making it an attractive destination for investors seeking growth and innovation.
Beyond its economic potential, Plymouth boasts a wealth of attractions and amenities for residents and visitors alike. From historic landmarks such as the Mayflower Steps and Plymouth Hoe to modern cultural venues like the Theatre Royal and Plymouth Pavilions, there's no shortage of things to see and do. The city's picturesque waterfront, vibrant shopping districts, and lively nightlife make it a dynamic destination for entertainment and leisure. Whether you're looking to invest in emerging industries, explore new business opportunities, or simply enjoy the unique charm of coastal living, Plymouth offers a compelling proposition for investors seeking growth and prosperity.