South West commercial property specialists Vickery Holman, acting jointly with DTZ, have concluded the sale of a detached commercial building at Carn Brea, Redruth, Cornwall.
The building was most recently used as a trade counter, with a mixture of offices and stores, but had been surplus to requirements for some time. The sale also included 0.37 acres of surrounding land.
The site was offered for sale on behalf of Eriks UK/Wyko Group Ltd, with an asking price of £200,000, and was sold to a local buyer for residential development.
Alan Treloar of Vickery Holman said; “We are delighted to see this sale completed and look forward to seeing the site cleared and residential development commence.”
Meanwhile Vickery Holman’s Sam Johnson says that since last year’s change to planning legislation allowing the conversion of office buildings to residential use, without planning permission, a number of such schemes have taken place in Exeter.
She says that, while the change in rules speeds up the development process and provides much needed residential stock, the downside is the negative impact it has had on city centre office stock.
Vickery Holman has undertaken a number of valuations on office buildings sold for residential conversion throughout the South West.
Story: Neil Bird
Photo: Vickery Holman
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