DEVELOPMENT OPPORTUNITY. Former Rosslyn Hotel. Proposed student scheme. Kimberley Park Road

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1 DEVELOPMENT OPPORTUNITY Former Rosslyn Hotel Proposed student scheme 110, Kimberley Park Road Cornwall, TR11 2JJ

2 LOCATION sits at the head of the river Fal and has excellent communication links being the terminus of the A39 which in turn links to the A30 and M5. benefits from 3 railway stations and a number of ferries operating out of the harbour. Henry VIII built Pendennis Castle in 1540 to defend the Carrick Roads and the town has continued to thrive ever since with the development of Docks in 1858 and a railway station in The town benefits from the third largest natural deep water harbour in the world which supports its maritime traditions as well as being a focus for the tourism which enjoys access to lovely beaches at Gyllyngvase and Swanpool. Penzance St Ives Newquay A392 Truro A390 A39 A38 A30 Plymouth Exeter The town is synonymous with the sea which has shaped its history, but in more recent times it has become well known for its artistic and creative excellence including the establishment of School of Art which is now the UK s number 1 university for the creative industries. The universities have helped to make one of the most vibrant, exciting and expanding towns in Cornwall., together with Penryn, houses over 36,000 residents although the population increases during the summer months with the influx of tourists. provides an eclectic mix of national, regional and local retail and leisure representation, ensuring the town appeals to tourists, students and local residents alike.

3 UNIVERSITIES IN FALMOUTH is home to two universities; University and the University of Exeter, Cornwall Campus. Historically, the town was home to only Arts College (now University), but in 1998 the land now known as Penryn Campus was purchased under a joint UK and EU initiative to grow Higher Education in Cornwall. It has subsequently benefited from over 100 million of funding to develop the state of the art facilities now found on site. The Penryn Campus was recently (March 2017) granted consent to lift the cap on student numbers (on solely that campus) from 5,000 to 7,500, which will take the total student population in the town to circa 10,000. University was originally founded as School of Art in 1902 and is today based across two campuses in Penryn and the other at Woodlane Campus in town centre. The university aligns itself closely to the creative industries and strives to offer the latest innovative courses, such as Computing for Games and Business Entrepreneurship. The university has won a number of awards over recent years, including The Sunday Times number 1 Arts University 3 years in a row. At their Cornwall Campus, the University of Exeter offers degrees in Biosciences, Geography, Geology, Clean Energy, English, History, Politics, and Mining Engineering. The University of Exeter is given an overall ranking of 9th in the Times Good University Guide Student Number in 2015/2016: Institution Total Undergraduates Postgraduates Students International Students University 4,655 4, University of Exeter 1,913 1, Total 6,568 5, Source: HESA

4 A39 PENRYN CAMPUS Hospital PENRYN Trescobeas Road Kimberley Park Road Tregenva Road A39 Police Station School Dracaena Avenue Trescobeas Rd Hospital SITUATION The property is situated on the northern side of Kimberley Park Road close to its junction with Dracaena Avenue and opposite the entrance to Tregenver Road. The surrounding area is predominantly residential in nature although the property is within close proximity of the town centre and all the facilities it affords. Hospital and School are within walking distance of the property. The university s Woodlane Campus is also within walking distance and the Penryn Campus is easily accessible via a regular bus service which departs from Dracaena Avenue, very close by. Tregenva Rd Kimberley Park FALMOUTH Kimberley Park Rd FALMOUTH TOWN CENTRE WOODLANE CAMPUS GYLLYNGVASE FALMOUTH DOCKS Pendennis Castle SWANPOOL

5 THE PROPERTY The property operated as the Rosslyn Hotel until March 2015 comprising 27 letting rooms, most with en-suite facilities along with the normal communal lounge area and dining room, as well as a 1 bed owner s flat. The former hotel sits on a rectangular site of circa 0.27 ha (0.66 acres). The site provides an excellent development opportunity for a variety of uses (Subject to planning), including student accommodation, residential, retirement living, care home and hospitality. EPC The property has an EPC rating of Band C with a specific score of 68. RATES The property is currently assessed as Hotel & Premises with a Rateable Value of 25,500 although interested parties are recommended to make their own enquiries of the local rating authority. We understand that the owner s accommodation is subject to the Council Tax regime and is assessed as Band A. SERVICES The building has been formally disconnected from all services, confirmation letters to this effect can be found in the dataroom.

6 PLANNING Planning consent has been obtained to demolish the existing building and develop 33 retirement apartments under reference PA15/00545 and plans are available on request. Subsequently a futher application was submitted for the development of a 117 purpose built student accommodation scheme under reference PA16/03586, this has recently been refused by Cornwall Council although an appeal is pending. The reasons for refusal are felt to be unsubstantiated and the expectation is that the appeal will be successful. There are various other potential uses for the site including residential, hospitality and care home (hospital adjacent). We recommend all interested parties make the relevant enquiries with Cornwall Council. DUE DILIGENCE REPORTS Proposed student scheme Our clients have undertaken extensive investigations and reports are available on the following: Geo-environmental Assessment Ground Investigation Topographical Survey Flood Risk Assessment Arboricultural Impact Assessment Planning Design & Access Statement Access to the information and planning details are available upon request via a dataroom. de looking 110 up Tregenver RdPark,, Cornwall, TR11 2JJ Kimberley Consented retirement scheme View of South West corner

7 OFFERS Offers are invited for our client s freehold interest with vacant possession. Both conditional and unconditional offers will be considered although conditional offers will be subject to a deposit of 10% of the purchase price. The property will be sold on an informal tender basis and interested parties should register their details with the sole selling agents Miller Commercial who will provide further details of timing, tender process and access to the dataroom. VAT The property is not elected for VAT. FURTHER INFORMATION For further information, or to arrange a viewing, please contact; Brian Botting MILLER COMMERCIAL Tel: bjb@miller-commercial.co.uk VIEWING Interested parties are able to view the site by roadside inspection but no attempt should be made to gain unaccompanied access to the building which is boarded up. A number of designated viewing days will take place at the property on an appointment only basis. Proposed student scheme