Vancouver House up for grabs
Former offices with consent for a 100-bedroom hotel conversion are available in Middlesbrough’s Corporation Road, with a guide price of £2.9m.
On 10 October, Savills is running an auction for the 92,285 sq ft property, which currently produces income of £36,800 per year, which could be expected to rise to £88,600 on filling the retail.
The consent for the hotel project, close to the town’s retail core, includes associated amenities such as a gym and banqueting facilities, along with 26 apartments and a café/restaurant.
As presently laid out, the six-storey building has nine retail & leisure units at ground and basement level. There are currently four tenants in place, including Snap Fitness and the Laurie Pigg pub. All of the office space is vacant.
The planning consent was secured in 2019 for Best Western by 1618 Architects, which secured approval for a project that involved the combining of three of the ground floor retail units into one space.
Under this scheme, the first floor would have been banqueting, with three floors of bedrooms above and the apartments at the top. The approved plans were a scaled-down version of that originally proposed, which included the addition of further floors to the top of the building.