The former home of St Austell Brewery is heading to auction later this month, with full planning permission for conversion into housing.
The prominent four-storey building sits in the heart of St Austell, on Cornwall’s south coast. Known for its world-class attractions such as The Eden Project and The Lost Gardens of Heligan, the old market town attracts millions of visitors each year.
Among its many draws is St Austell Brewery, which has been crafting beer and real ale in Cornwall since 1851. In a rare opportunity to own a piece of the brewer's history, Tregonissey House, the very first steam brewery built by founder Walter Hicks, will be going under the hammer.
For over two decades, the historic building served as the Hick’s main brewery site until the company outgrew the space and moved to its present location on Trevarthian Road.
Since then, Tregonissey House has served numerous purposes, including a residential home, retail unit, a restaurant and most recently commercial office spaces.
The property could be set for yet another change, as planning permission for its partial conversion into residential apartments was granted in 2020. Approved plans could see a new owner develop nine homes across the ground, first, second, and third floors, while keeping the existing offices intact on the lower ground floor.
The 8,500 square foot building will now be sold at a livestream auction on Tuesday 26th March, with a guide price of £425,000.
Tregonissey House, Market Street, St. Austell, Cornwall PL25 4BB
Commercial Investment Opportunity | Guide price: £425,000 [more info]
Auction House South West who are managing the sale, describe the property as an “attractive investment opportunity.”
“Currently, the property is let to three commercial tenants generating £45,668.13 per annum with a further unit currently vacant. Fully let, the whole property could generate circa £56,000 per annum.”
As an additional benefit for investors, the lower ground floor, currently occupied by Millerson Estate Agents, is not affected by the planning permission, and can continue to produce income once the apartments are completed.
Full details of the building’s planning application and approval can be found on the Cornwall Planning Portal under the reference PA20/06665.
Highlighting Tregonissey House’s versatility, a spokesperson for Auction House South West commented: “The exciting opportunity exists to continue receiving a generous income from the commercial tenants or to utilise the planning permission and proceed with the conversion of this historic building, or potentially a combination of both!”
Tregonissey House goes up for sale by livestream auction with Auction House South West on Tuesday 26th March 2024.
