The former Cockington School, Old Mill Road, Torquay is set to find a new lease of life on 1 October when it will be sold in an online auction by Network Auctions.
The freehold site, guided at £490,000+, has lain vacant for many years after a replacement school was built nearby. Planning permission was granted by Torbay Council in February 2020 for the conversion of the main building into 7 maisonettes (comprising 5 x 2 bedroom, 1 x 3 bedroom and 1 x 1 bedroom) and a new terrace of 4 x 3 bedroom houses.
The attractive Victorian school buildings on a site of 0.59 acres, are located in the centre of Chelston, close to Sherwell Park and have a total floor area of 11,242 sq. ft.
A RICS report dated 3rd July states an existing market value with planning permission to be £750,000 and a Gross Development Value (GDV) at £2,245,500. Local estate agents have estimated the GDV at £2,530,000 and £2,585,000.
Toby Limbrick, auctioneer, says ‘We are delighted to be offering such a development opportunity to the market. There is a real potential with this site to add value to make this a landmark site once again. The original buildings have sought after Victorian detailing which will appeal to a number of buyers once the works are complete.’
Former Cockington School will be sold on 1 October by Network Auctions. For more information: 020 7871 0420 or www.networkauctions.co.uk
