The home of Crowdfunder has gone on the market for £1,750,000.
Located close to Newquay town centre, overlooking Killacourt Field and Towan Beach, the 11,949 sq ft building is said to offer a "substantial redevelopment opportunity".
Set in a 0.26 acre plot the building still boasts its Victorian features. Originally three buildings, then a 57-bedroom hotel, the property most recently operated as a co-working and events space. Eight car parking spaces are available at the front and a sheltered courtyard is located at the rear.
Miller Commercial is handling the sale of the property owned by C-Space Ltd. The company transformed the Cornwall premises in 2018 with help from Crowdfunder, the Cornwall Food Foundation, and the Real Ideas Organisation, into a multi-use space.
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Crowdfunder initially moved a total of 40 staff into the building and promised to as C-Space supports 1,000 start-ups in Cornwall alone.
C-Space redeveloped the former hotel with the help of a £2m investment from the Cornwall and Isles of Scilly Local Enterprise Partnership. And since 2018 has fused business and incubation space with a café, bar, events venue, production studio and retail showcase.
The space has also offered office space for permanent tenants, such as Crowdfuner, and start-up and incubation spaces for fledgling businesses, plus hot desks to rent.
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Thomas Hewitt, head of development at Miller Commercial is handling the sale of this property and advises the following: "5-7 The Crescent, Newquay presents the rare opportunity to acquire the freehold of such a large property in this location. The views over Towan Beach, Newquay Island and the headlands beyond are breath-taking. The property offers scope for reconfiguration/redevelopment to a variety of uses (subject to consent). The property is for sale by informal tender with Friday September 1 as the closing date."
Miller Commercial has said that the property is considered well suited for a variety of uses including residential development, serviced offices and co-working space, or a hotel.
In a statement C-Space said: "C-Space has been actively seeking a partner or investor to develop the bedrooms and the rest of the building and has been in discussions with the Local Enterprise Partnership and investors regarding the best possible future for the building and are now planning a sale. This they believe will realise the best possible value for our shareholders and investors and pave the way for an exciting future for the building. Our shareholders, members, partners and occupiers have been kept updated.”
Crowdfunder told BusinessLive that it will shortly be moving to a "new exciting premises", with more information coming soon.
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