The South West Continued Investment into Torbay Brings A Sunny Outlook
As we read of neglected and failing coastal tourist towns across the country, The English Riviera is far from fading in its Victorian glory. The resort is currently subject to major cross sector inward investment – with large scale hotel, office, leisure and industrial developments ongoing.
Paul Bettesworth, Commercial Director of leading independent Devon Property Agents & Chartered
Surveyors, Bettesworths, outlines a selection of some of these schemes and his firm’s involvement.
Torquay Harbourside is set to receive a big boost with Spring 2020 delivery of a 130 Bed Hilton Hotel, 30,000+ sq ft of Grade A office space and four new leisure retail units. Paul comments, ‘We have now completed of the letting of 15,000 sq ft of office space to Wollens Solicitors and are in advanced negotiations with another occupier for approx. 10,000 sq ft of office space. Naturally, there is strong interest from local businesses in the remaining smaller suites (from 2,000 sq ft).
Meanwhile, advanced negotiations are progressing on the Ground Floor units with some exciting branded tenants.’
In Paignton, having delivered 60,000sq ft of industrial space at Torbay Business Park for occupiers Graphic Controls, Midas Construction have now completed a further 12,000 sq ft block adjacent. Represented by Bettesworths & Alder King, Midas sold the block off plan and Bettesworths are now progressing with the letting of the units of behalf of the new owners.
Staying in Paignton, Bettesworths have advised Torbay Council on the regeneration of Paignton Harbour North Quay; successfully bringing forward restoration and conversion of the former Harbour Lights Restaurant and stores for new occupiers, St Austell Brewery. The two- storey stone building is believed to have first been used as a fish cellar and net store and the local authority has invested £600,000 in the restoration. The pub is set to trade from February 2020, following a comprehensive St Austell fit out. Paignton is also benefiting from part of an estimated £100million investment in Torbay by developer The Fragrance Group, building 280 seafront rooms across two sites among their four major projects.
In Torquay, The Palace Hotel will make way for a nine storey, 248-bed five-star destination hotel of nine floors with a spa, roof-top bar, a conference centre for 500 delegates. A further seafront hotel will be built on the site of the Corbyn Head Hotel.
Paul Bettesworth concludes ‘We are delighted to be recognized by clients such as those mentioned above for the quality of our advice and service. It is great to play a part in these projects that strengthen the future of Torbay.’
Bettesworths is an independent family business, owned and run by the third generation Chartered Surveyor Directors, brothers Matt & Paul.
Operating throughout the South West, they head an experienced team, highly skilled and expert in delivering a broad range of services to clients looking for the very best results.
A breadth of experience across all property sectors, the depth of day to day involvement and technical knowledge gives Bettesworths an unrivalled platform from which to provide advice to meet clients’ needs.
Developments at Royal William Yard, Plymouth
Royal William Yard contains one of the largest collections of 19th century listed buildings in the south west. Since 2001 Urban Splash have been working on the regeneration of the Yard and have already successfully brought back into use the majority of the buildings.
As a result of this work, the Yard is
now a popular visitor destination and residential location, with a vibrant mix of restaurants, bars, office space, hotel rooms and homes.
The regeneration work is currently continuing
with Melville, one of the refurbishment
buildings in the Yard, which overlooks the marina. Work has started with the replacement of roof coverings, renovation of stone work and renewal of windows.
Urban Splash have already agreed pre-let arrangements with Everyman Cinema and HUBBOX and other space will be completed in readiness for other office, leisure and retail uses.
COMMERCIAL PROPERTY MONTHLY 2020 of the most prominent
Everyman is redefining cinema, bringing an
innovative lifestyle approach to
their venues, where you swap your soft drink for a nice glass of red wine and a slice of freshly made pizza served to your seat.
Everyman will be showing a wide array of mainstream, independent and classic films, special events, launches and a diverse calendar of live satellite broadcasts.
HUBBOX is an essential stop-off for amazing American inspired street food & great drinks, with award-winning burgers and a great selection of craft beers, special recipe malt-shakes and soft drinks.
The regeneration of Royal William Yard is a partnership project between Urban Splash and Plymouth City Council, who own the freehold of the site.
The work on Melville has also been supported by grant funding from Historic England. Everyman and HUBBOX are expected to open in 2020.
£14000 price reduction successful Paignton hotel on
New owners could benefit from Paignton’s hotel sector boom
Waycotts Hotel and Leisure Division has announced a significant reduction in the price on a 13 en-suite guest bedroom hotel in order to generate renewed interest in
a prominently located
property close to the Paignton seafront, beach and pier.
The Berry Hotel on Berry Square,
Paignton, is a substantial building with a successful and profitable track record.
The freehold interest on the Berry Hotel is being offered with a guide price of £455,000 down £14,000 from its original asking price; plus SAV. Viewing is strictly by appointment with Waycotts by calling 01803 403060
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