Summary - 5/6/7 Gibbon Lane And 34 Gibbon Street, Plymouth, Devon, PL4 8BZ PL4 8BZ
1 bed 1 bath Commercial Property
Income-producing PBSA with major development upside opposite the University of Plymouth..
Produces £189,913 gross pa from 23 operational studios
Directly opposite University of Plymouth — strong student catchment
Extant consent for 12 studios at No.7 (derelict) — buildable (STPP)
Sketch designs propose 48 studios at Nos.7/34; overall 91 studios potential (STPP)
Derelict former pub and No.7 require full refurbishment or rebuild
Roof terrace could accommodate additional floor (subject to planning)
High local crime rate — may affect management and insurance costs
Conditional contract available; data pack and tenancy schedule on request
A rare central Plymouth investment comprising three adjacent lots in a busy student neighbourhood opposite the University of Plymouth. The operational block (The Cube) produces a proven gross income of £189,913 pa from 23 studios, providing immediate income while development upside sits on the neighbouring sites.
The package includes an extant planning consent for 12 additional studios at No.7 (derelict) and a former pub at No.34 with sketch proposals for a combined 48 studios (Nos.7/34). Taken together there is theoretical potential for up to 91 studios, subject to planning (STPP). A conditional contract is available and a full data pack with floor plans and tenancy schedule can be requested.
Investors should weigh the clear development opportunity against material drawbacks: parts of the asset are derelict and will need full refurbishment or rebuild, and the area records higher local crime rates which may affect lettings and management costs. Major works, planning costs and mitigation of maintenance issues will be required to realise the full scheme.
For a buyer seeking a high-leverage student accommodation play, this site offers immediate income and substantial expansion potential in a proven student market. Budget realistically for refurbishment, ongoing management and planning risk when modelling returns.
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