Summary - 40-46, ROYAL PARADE PL1 1DY
1 bed 1 bath Retail Property (high street)
Massive redevelopment potential in a prime central location near transport links.
Former department store approx 183,689 sq ft over six floors
A rare, landmark high-street opportunity in the heart of Plymouth city centre. The property comprises a former department store (circa 183,689 sq ft over ground and five upper floors) together with four self-contained retail units (14,398 sq ft), delivering an exceptionally large, well‑lit building with triple frontage onto New George Street, Armada Way and Royal Parade. Higher floors offer outstanding views and flexible rectangular floorplates suitable for reconfiguration.
This site occupies 0.97 acres and sits moments from Drake Circus Shopping Centre and Plymouth Railway Station, putting strong footfall and transport links on the doorstep. The building includes a rear courtyard and goods entrance with roller shutter; note the rear loading yard is adopted by the council and is not included in the sale. The leasehold has 93 years unexpired with potential for extension, and redevelopment or mixed‑use conversion is possible subject to consents.
Important practical considerations are stated plainly: the property sits in an area with very high crime levels and very high deprivation, and local broadband speeds are reported as very slow. The building will require planning and fit‑out work to realise new uses and may need significant refurbishment. Investors should factor in consenting complexity, refurbishment costs and the excluded adopted loading yard when modelling returns.
For the right buyer—an investor or developer targeting large-scale city-centre redevelopment—this offers scale, prominent frontage and strategic proximity to retail and transport hubs. The combination of size, location and reconfiguration potential creates scope for multi-operator retail, leisure, or mixed-use schemes, albeit with clear delivery risks to manage.
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