22nd September 2014

Truro’s St Georges Chapel sold to local developer

Acting on behalf of Buckfast Abbey Trustees Registered and St Michaels Small School, Alder King has successfully negotiated the unconditional sale of St Georges Chapel, Truro to local developer and investor MBT Ltd.

The imposing Grade 2 Listed building, backing onto the Kenwyn River and Victoria Gardens, was originally designed as a Methodist chapel and still retains many original features.  Most recently the 7,956 sq ft property was used as a school.

Interest was received from a wide variety of prospective purchasers, most of whom would have required the submission of a planning application for change of use as well as Listed Building consent.

Tom Duncan, associate at Alder King in Truro, said: “While interest was strong, negotiating a sale was less straightforward with many potential purchasers being put off by the challenges and risks associated with bringing an old building into modern use while satisfying the restrictions associated with its listed building status.

“Many of the interested parties were considering conversion to residential use although there was also some interest for alternative uses. The purchaser, a local developer, is now considering options on the best way forward.”

Bill Radmore of MBT added: “We are delighted to have acquired this important building in the city.  We are actively considering several options to secure the building’s sustainable future use, both for sale or to lease. The building is very flexible and could be used for a variety of uses, including offices, workspace, catering, storage, gallery and leisure orientated uses, as well as residential.”

The property was sold unconditionally off a guide price of £250,000.