Peveril Buildings, Loch Promenade, Douglas
Asking price: £899,000

A rare and exciting opportunity to acquire a substantial freehold property in a prime central location on Douglas’s prestigious Loch Promenade. Extending to approximately 18,500 sq ft, this landmark building offers a unique combination of established leisure premises and significant redevelopment potential, making it an attractive proposition for investors and developers alike.

The ground floor and basement comprise a substantial bar and nightclub space, offering an exciting opportunity for an operator or investor to establish, enhance or reposition a leisure and hospitality business in one of Douglas’s most prominent waterfront locations. With its existing layout and potential for a variety of entertainment and hospitality uses, the premises provide an excellent foundation for a new venture, subject to any necessary consents.

The upper floors, which previously comprised two hotels, have been stripped back to open-plan layouts, providing a blank canvas for redevelopment. Boasting panoramic, uninterrupted sea views, these floors present an exciting opportunity for conversion into luxury apartments, boutique hotel accommodation or alternative commercial or residential uses, subject to obtaining any necessary consents.

Occupying a landmark position on Loch Promenade, this substantial property offers considerable scale, versatility and outstanding scope for future enhancement. The combination of bar and nightclub premises with extensive upper-floor redevelopment potential creates a compelling opportunity for purchasers seeking to unlock the full value of a prominent waterfront building.

The vendor is open to part-exchange discussions and will consider offers, providing additional flexibility for prospective purchasers.