Plymouth office building 'to be sold'

Office design news from Morgan Lovell

Published on 18-10-2010

The Civic Centre in Plymouth could be sold to raise funds for the local council and to bring about the refurbishment of the property.

Overall, the property costs the council £350,000 per year for its upkeep and, as such, local officials are keen to examine ways of reducing the costs and paving the way for the redevelopment of the building.

Plymouth Council cabinet member Ian Bowyer commented: "We've been working towards finding a solution and need to know once and for all, if this building can be sold. This is the next stage and we are genuinely keen to see if there is interest in the building before we can go any further."

Property agent Knight Frank is overseeing the disposal of the building.

Elsewhere, LaSalle Investment Management and William Pears recently worked together to complete the purchase of 4.5 acres in Notting Hill for the construction of new office, retail and residential properties.

The pair paid £131 million to Land Securities and Delancey for the rights to the land.

Posted by Adrian Norman