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House Of Fraser, 40-46 Royal Parade And 33-37 New George Street, Plymouth, Devon, PL1 1DY - Image 1
House Of Fraser, 40-46 Royal Parade And 33-37 New George Street, Plymouth, Devon, PL1 1DY - Image 2
House Of Fraser, 40-46 Royal Parade And 33-37 New George Street, Plymouth, Devon, PL1 1DY - Image 3
House Of Fraser, 40-46 Royal Parade And 33-37 New George Street, Plymouth, Devon, PL1 1DY - Image 4
House Of Fraser, 40-46 Royal Parade And 33-37 New George Street, Plymouth, Devon, PL1 1DY - Image 5
House Of Fraser, 40-46 Royal Parade And 33-37 New George Street, Plymouth, Devon, PL1 1DY - Image 6

House Of Fraser, 40-46 Royal Parade And 33-37 New George Street, Plymouth, Devon, PL1 1DY

South West

£3,000,000
Listed on 13/08/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property features a substantial department store spanning approximately 183,689 square feet across six levels, including a ground floor and five upper floors. An additional four smaller retail units are situated along New George Street, collectively offering around 14,398 square feet and providing a mix of potential uses. Historically part of the larger department store, these units are now fully self-contained, presenting opportunities for diverse retail or commercial applications. Positioned at a prominent corner site bordered by Royal Parade to the south and Armada Way to the west, this location boasts high visibility and pedestrian traffic. The well-designed floorplates of the main building are rectangular in shape, optimizing space and allowing for ample natural light through numerous windows on all sides. The property includes access to a rear courtyard via New George Street, ideal for deliveries or outdoor use. Additionally, there is a goods entrance equipped with a roller shutter door for convenient loading operations. While it’s important to note that the rear loading yard is maintained by the Council and not included in the sale, this feature emphasizes logistical advantages for operations. Given its size and configuration, this property presents significant renovation and investment potential. With strategic updates and creative redevelopment efforts, it could be transformed to enhance its appeal in a vibrant urban setting. This asset provides a unique opportunity for investors looking to capitalize on an adaptable space in a busy commercial area.

Investment Analysis

(PL1 area)
Area Average
£236/sq ft
Avg Rent (weekly)
£199
Avg Yield
4.9%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£2,000,000 - £4,000,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
30
Average per month
Market Turnover
16%
Properties sold annually

Local Market Trend (PL1)

Area prices are stable by +1.5% over the last 12 months
3 year growth: 3.2%
5 year growth: 2.4%
Investment Disclaimer: Analysis based on PL1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

House Of Fraser, 40-46 Royal Parade And 33-37 New George Street, Plymouth, Devon, PL1 1DY
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Mortgage Calculator

£
£
£
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%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£10,990
Based on a loan of £2,250,000 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE