National chains set for harbour site
TWO national chains are lined up to move into Plymouth’s empty former glassworks building, which is being split into three units. The Grade II listed waterfront building has been empty since Edinburgh Woollen Mill, which leased the entire 7,500sq ft space, unexpectedly closed its store in May.
Plans have been submitted to divide the former retail space into three equal parts, with national food chain The Cornish Bakery already submitting proposals to move into one of the units.
Now Sutton Harbour Group (SHG), which owns the building, has revealed another national brand is lined up. SHG chairman Philip Beinhaker, in a statement to investors, said: “The company intends to convert these premises into three 2,500sq ft units, with two units already reserved for national covenant tenants and the third is being actively marketed.”
Commercial property experts at Bruton Knowles, brought in to market the building, said the middle unit and the one to its right, as looked at from Southside Street, are “under offer to national operators”.
The building has planning consent for Class E use – for shops, restaurants or cafés, but Bruton Knowles stressed that other uses could be considered.
The main structure of the building was built in 1896, based on the look of a GWR train station, and was known as the Old Fish Market until it was redeveloped in the 1990s.
SHG commissioned Plymouth architecture practice Form Design Group to convert the building into a studio glassworks and retail shop for Dartington Crystal in a £1.25 million project grant-aided by the now defunct national development agency English Partnerships, with the glass retailer investing £500,000.
A seamless glazed enclosure was added around the Victorian structure, and a new glass production area, where visitors could watch glass-blowers in action, was added as a separate pavilion. It was opened in 1997 but Dartington Crystal later pulled out, with the extension becoming an eatery, currently named The Harbour Seafood Restaurant, and Edinburgh Woollen Mill occupying the larger retail space.
SHG also operates Sutton Harbour Marina, King Point Marina and Plymouth Fisheries, and earns from mixed-use lettings, car parking and support services to harbour users, as well as from property management and regeneration and asset enhancement.
Mr Beinhaker, in his statement to the Stock Exchange, said trading throughout the summer of 2021 has benefited from the strong recovery in visitor numbers to Sutton Harbour.
“Car park revenues are now at least at pre-Covid levels and it has been another record season for berthing in the group’s two marina facilities,” he told shareholders.
“Sutton Harbour Marina has reached 100% occupancy, with King Point Marina achieving 93% occupancy, and both marinas now have waiting lists.
“The group will launch bookings for the 2022/23 marina season, which starts on April 1, 2022, in November, and expects the strong demand to continue.
“Plymouth Fisheries trading has shown some slow, but steady, improvement since last year.
“Occupation of the company’s commercial estate has been consistent with just two properties currently unlet, one being the building formerly let to Edinburgh Woollen Mill.”
The AIM-listed company’s interim results for the six-month period to September 30, 2021, are due to be published in early December.