Courtleigh Property has paid just over £1m for the grade II listed former Royal Naval Hospital buildings within the Plymouth Development Corporation area.
The purchaser plans to convert the 9,290 sq m (100,000 sq ft) property into business units and apartments. Courtleigh has already signed up one tenant: Business Links South West has taken 1,114 sq m (12,000 sq ft) of offices at a rent of £43,000 pa.
Courtleigh, which is interested in acquiring other residential sites in the region, acquired the property from Peaston, which paid the MoD £2.25m for the site eight months ago.
Edward Symmons & Partners advised Courtleigh while Knight Frank acted for the vendor.
EGi News 03/04/97
