Helix Property Advisors, on behalf of Daily Mail and General Investments plc has sold the former Herald Newspapers headquarters building on Brest Road in Derriford, Plymouth to Burrington Estates for £2.5 million.
The iconic building, designed by Sir Nicolas Grimshaw CBE and nicknamed ‘The Ship’, comprises 51,000 sq ft (4,738 sq m) of offices and 64,000 sq ft (5,945 sq m) of production/warehouse space. The property has been sold with vacant possession and has primarily been unoccupied since 2013 when The Herald and its sister company The Western Morning News moved to new headquarters in Millbay.
Burrington Estates are proposing a major refurbishment of the building including one of their new Thrive Hubs which will provide and inspire business environments for which companies and occupiers can “thrive”.
The proposals are not just limited to offices however, with great opportunities for- up and coming manufacturing company to locate to this iconic setting.
Colliers and Vickery Holman advised Helix Property Advisors on the sale of the building and Burrington Estates was unrepresented.
Vickery Holman’s Joanne Harwood comments:
“It is certainly one of the largest property transactions in Plymouth in recent years and we had a few false starts. Finding the right purchaser for such a unique building has certainly taken a lot of man hours and expertise. Despite first impressions, the building is very flexible and once refurbished will provide a wide range of opportunities from small to large offices through to production and warehousing. In addition the space would be suitable for a range of leisure or even retail uses in such a rapidly developing area of Plymouth.
Vickery Holman’s Mike Oldrieve comments:
“It is occasions like this which remind you how long you have been advising on property across the South West. I can remember attending the opening of this headquarters and print facility toward the beginning of my career of a Chartered Surveyor. One of the great bonuses of working in property is having the opportunity to advise on some of the regions larger and more interesting projects and The Ship has certainly been that. I think it has a great role to play in Plymouth’s future and I look forward to many more years of association with the building”.
James Preece, Colliers International, Director, comments:
“It is fantastic that this landmark building has been bought by a local developer for an enterprise hub. The unique design offers inspiring space and the proposed use should see new jobs and talent moving to the area.”
