PAI members Vickery Holman are pleased to report the sale of 48-50 Mutley Plain.
Located on Mutley Plain the prominent four-storey building benefits from basement storage, ground floor retail area and two upper floors of office accommodation and staff facilities.
The former Barclays building was vacated by the bank in 2017 as part of their local branch closures, and subsequently put up for sale by Vickery Holman in late 2018. The property finally sold in August 2019 for an undisclosed sum to Kadampa Buddhist Meditation Centre, who have received planning permission to use the ground floor as a meditation centre with the upper floors being converted to ancillary residential accommodation for visiting monks.
Anna Simpson, Commercial Agent at Vickery Holman comments “We are pleased to see the sale of such a prominent building on Mutley Plain and believe the Buddhist Meditation Centre will fit well with the range of new non-traditional retail users we are seeing in Mutley such as the yoga studio, baby music classes, tanning salons and barber shops. I think we are likely to see struggling high streets develop into more mixed use areas as time goes on with lots of destination uses. This can only be a good thing for those areas as it draws footfall back to the high street.”