Mount Wise House & George House Development Site
Devonport Hill, Plymouth
SUMMARY
Mount Wise is a 28 acre residential led waterfront development which has largely been completed and has extensive mature grounds, a Tesco Express and is home to Plymouth Cricket Club.
Mount Wise House is a Grade II listed former naval residence which has been converted to office use. Currently it is part let to 9 commercial tenants and is producing a gross income of just over £78,500 per annum.
The site known as George House is a cleared development opportunity opposite Mount Wise House with an expired planning consent for a new three storey office building.
Parking for both is located in the Admiralty Square car park.
There are 52 car spaces in total with 35 allocated to Mount Wise House and 17 to the George House development site. The building and site are available for sale freehold as a whole or separately with the parking spaces in Admiralty Square. Both have potential for alternative uses subject to planning
Features
- Investment / Refurbishment / New Build Development Opportunity with existing rental income and 52 car spaces
Details
LOT 1 - Mount Wise House
Mount Wise House is a three storey Georgian Grade II listed building with mezzanine floors, a basement and mansard.
Built between 1808 to 1810 it was a former Officers Residence to support the Governor of Plymouth and more recently the Port Admiral who resided in Admiralty House which is located at the south side of Admiralty Square.
It has a Georgian stucco elevation under a dry slate hipped roof sitting behind a parapet. The front elevation has six sash windows per floor with the ground floor having an impressive double entrance door and porch off the grassed area in front.
There is a five window return frontage and a separate entrance on the George Street elevation. The two stair cores provide flexibility of occupation.
There is an area and building adjacent to Mount Wise House that has development potential subject to planning.
Parking
Parking for Mount Wise House is in Admiralty Square which has an attractive block paved surface.
The parking is separated from the building and accessed via Mount Wise Crescent which runs alongside the cricket pitch. There are 35 car spaces allocated to Mount Wise House.
LOT 2 - George House Development Site
This is opposite Mount Wise House. The former building has been demolished and it is now a cleared development site. It had planning consent for a 3 storey self – contained new office building with
Georgian style elevations.
The site is immediately adjacent to an earlier phase of residential development that is fully occupied.
Parking
Parking for both Mount Wise House and the George House development site is in Admiralty Square which
has an attractive block paved surface. The commercial parking is separated from the buildings and is accessed via Mount Wise Crescent around the cricket ground. There are 17 car spaces allocated the George House Development site.
Terms
Mount Wise House and the George House Development Site are offered for sale as a whole or in two separate lots. For details of quoting terms contact the agents.
Planning
Mount Wise House and George House Development Site are located within the Devonport Conservation Area. The overall site benefits from an outline planning permission for a residential led mixed – use redevelopment ( Ref: 06/01646/OUT ) under which a number of reserved and other full planning applications have been granted.
Under the same consent Mount Wise House has planning consent for office use and likewise the George House Development Site had planning consent for a new office development (followed by two reserved matters consents) but that consent has now expired.
A more detailed planning summary is available from the agents. Interested parties should make their own enquiries to the Planning Department of Plymouth City Council. Tel: 01752 304366 or email: planningconsents@plymouth.gov.uk
Estate Service Charge
There is an estate service charge for Mount Wise payable proportionately by all residential homeowners and commercial occupiers of circa £0.50 per sq ft. Mount Wise House in its existing use will contribute on the basis of its net internal floor area (excluding the basement).
The George House Development Site will be assessed for its contribution once future development has been completed and the built area can be determined.
Business Rates
There are a number of rating assessments for Mount Wise House. For further details contact the agents.Interested parties can make their own enquiries to Plymouth City Council to ascertain the exact rates payable as a change in occupation may trigger an adjustment of the rating assessments. www.voa.gov.uk
Energy Performance Certificate
There is a new EPC for Mount Wise House which is rated at E.
Legal Costs
Each party is to be responsible for their own legal costs.
VAT
Under the Finance Acts 1989 and 1997, VAT may be levied on the purchase price. We recommend that the prospective purchasers establish the VAT implications before entering into any agreement. It is envisaged that Mount Wise House can be sold as a TOGC.
AML
A successful purchaser will be required to provide relevant information to satisfy the AML requirements when Heads of Terms are agreed
Further Information
There is a data room with further information on the leases, planning, drawings etc. For access contact the agents.