For Sale Care Home / Development Opportunity with Rental Income Sir Gabriel Wood’S Mariners’ Home & Mariners’ Court, 67 Newark Street, Greenock PA16 7TQ

For Sale Care Home / Development Opportunity with Rental Income Sir Gabriel Wood’s Mariners’ Home & Mariners’ Court, 67 Newark Street, Greenock PA16 7TQ

- 43 bed carehome within A listed building - In addition, 30 retirement flats are included in a separate block, with a Gross Passing Income of £105,664 per annum - Potential development opportunity, subject to planning consent being obtained Sir Gabriel Wood’s Mariners’ Home & Mariners’ Court 2 67 Newark Street, Greenock PA16 7TQ

OPPORTUNITY

Savills, jointly with Colliers are delighted to bring to the market the opportunity to acquire an impressive Grade A Listed building of historical importance within the desirable West End of Greenock. The site extends to 7.12 acres (2.88 hectares) and comprises a 43 bed care home together with a block of 30 retirement flats which have a current gross passing income of £105,664 per annum including service charge.

The site could be sold for ongoing use as a care home or alternatively as a development opportunity, suitable for a variety of uses, such as residential or hotel/leisure, subject to planning consent being obtained. LOCATION

The site is located in the town of Greenock which has a population of approximately 45,000 people and is the largest town within the Local Authority area of Inverclyde. It lies approximately 27 miles west of the City of Glasgow on the southern side of the Firth of Clyde. Greenock has historically been one of the most important Scottish maritime ports, providing docking for ocean liners and merchant shipping.

Greenock Town Centre provides a wide range of retail and leisure offerings to include supermarkets, restaurants and cafés with Greenock’s Oak Mall Shopping Centre lying 1.5 miles to the east. The site also benefits from excellent public transport connections to Glasgow and the surrounding areas via Fort Matilda Train Station which lies less than 0.5 miles to the west and provides rail connections to Glasgow and Paisley. Regular bus services are provided on Newark Street and access to both Dunoon and Kilcreggan is available via the Gourock Ferry Crossing which lies 3.5 miles to the west. Glasgow Airport is within a 30 minute drive of the site and provides both international and domestic flights.

The site is ideally located for access to a wide variety of recreational and community facilities with both Lyle and Battery Parks within walking distance. Greenock Cricket Club and Greenock Golf Club are also within close proximity to the site, whilst Greenock Wanderers Rugby Club is situated immediately to the north west, on the north side of Newark Street. This lies adjacent to Fort Matilda Tennis and Bowling Clubs which are in the immediate vicinity.

St Mary’s Primary School and Ardgowan Primary School are both located approximately 1 mile south east of the site and Clydeview Academy is located 1.4 miles to the south west. There are currently 3 early years nursery facilities situated within 1 mile of the site. Sir Gabriel Wood’s Mariners’ Home & Mariners’ Court 3 67 Newark Street, Greenock PA16 7TQ

DESCRIPTION

The subjects for sale include Sir Gabriel Wood’s Mariners’ Home, a Category A listed building with rear extension and adjoining retirement flats, known as Sir Gabriel Wood’s Mariners’ Court. The buildings lie on a site extending to a total of 7.12 acres (2.88 hectares) and are set within attractive landscaped grounds, overlooking Newark Street.

The main building has operated as a care home for ex mariners and seamen since it was founded in 1850 by Sir Gabriel Wood, a Commissary General born in Gourock in 1767. He travelled the world and held senior posts in North America during the Napoleonic Wars. His family later moved to Greenock and following his death in 1845, his widow and sister, Lady Louisa Augusta Wood and Miss Sir Gabriel Wood’s Francis Ann Wood, carried out his dying wish to found a care facility Mariners’ Home for aged master mariners and merchant seamen within his native town. The building was designed by architect, Robert Macintosh of Exeter and it is now recognised as one Greenock’s finest buildings.

The care home was closed earlier this year and is offered to the market with vacant possession. Sir Gabriel Wood’s Mariners’ Court

Sir Gabriel Wood’s Mariners’ Home Sir Gabriel Wood’s Mariners’ Court Sir Gabriel Wood’s Mariners’ Home & Mariners’ Court 4 67 Newark Street, Greenock PA16 7TQ

Sir Gabriel Wood’s Mariners’ Home - Entrance Sir Gabriel Wood’s Mariners’ Home - Internal Chapel

Sir Gabriel Wood’s Mariners’ Home - Dining Room Sir Gabriel Wood’s Mariners’ Court Sir Gabriel Wood’s Mariners’ Home & Mariners’ Court 5 67 Newark Street, Greenock PA16 7TQ

ACCOMMODATION TENANCY INFORMATION EPC

The site comprises two buildings which are summarised below: There are currently 22 of the 30 retirement flats within Sir Gabriel A summary of the EPC ratings for the buildings are outlined below: Wood’s Mariners’ Court which are let on a private residential Sir Gabriel Wood’s Mariners’ Home tenancy. The remaining 8 flats are vacant and available for let. Mariners’ Home G Rating Mariners’ Court (Units 1-30) C Rating A Category A listed building extending over 2 storeys and constructed The gross passing rent based on the current occupancy for the in 1850 of traditional sandstone construction with pitched and slated Mariners’ Court is £105,664 per annum. This includes a weekly roof. A modern single storey 1990s extension projects to the rear of service charge of £16 per flat. Sir Gabriel Wood’s Mariners’ Home - View from North West the building. Internally the building features 43 bedrooms with ensuite or private toilets in addition to communal lounge space, cooking and On the basis of 100% occupancy, this would provide a gross cleaning facilities, ancillary office space and a chapel. passing rent of £143,520 per annum (including service charge). There are a number of outstanding rent reviews which may provide Sir Gabriel Wood’s Mariners’ Court an opportunity for future rental growth.

The 4-storey building is of 1970s construction and comprises self- A copy of the tenancy schedule is available upon request. contained retirement accommodation in the form of 10 studio apartments and 20 one bedroom flats. The building also includes a residents’ lounge and reception hallway. Access to the building is taken PLANNING from Finnart Street to the eastern boundary of the site. The site lies within Inverclyde Local Authority area and is covered A shared surfaced car park is situated to the rear of the main building by the Inverclyde Local Development Plan and is capable of accommodating approximately 25 cars. An area of (adopted 2019). surplus ground lies beyond this and could potentially accommodate a number of residential plots, subject to planning consent being obtained. The property is located within the Greenock West End Conservation Area and does not have any specific allocation but We have been provided with a summary of the accommodation which is lies within the Greenock settlement area. outlined below: Any enquires associated with an alternative use of the site should be directed to the Planning Department at Inverclyde Council.

Sir Gabriel Wood’s Mariners’ Home - Internal Boardroom Sir Gabriel Wood’s Mariners’ Home - Belfry

Description Area (Sq M) Area (Sq Ft)

Sir Gabriel Wood’s Mariners’ Home 2,195 23,630

Sir Gabriel Wood’s Mariners’ Court 2,725 29,335

Total Accommodation 4,920 52,965 Sir Gabriel Wood’s Mariners’ Home & Mariners’ Court 6 67 Newark Street, Greenock PA16 7TQ

OFFERS

Our clients are inviting offers for the Heritable Interest in the subjects as a whole. Offers should be made in a Heads of Terms format.

Interested parties should register their interest with the Selling Agents at an early stage in order to be kept advised of any closing date which may be set.

Please note our clients are not obliged to accept the highest or indeed any offer submitted for the site.

CONTACT

For further information, please contact the joint selling agents:

Savills Development Glasgow Colliers Health Care 163 West George Street 50 George Street Glasgow G2 2JJ London W1U 7GA +44 (0) 141 248 7342 +44 (0) 20 7935 4499

Jamie Doran Max Broadbent [email protected] [email protected] +44 (0) 7967 555 561 +44 (0) 7795 658 109

Emma Biggin Liam Prickett [email protected] [email protected] +44 (0) 7870 999 498 +44 (0) 7935 202 004

Important Notice Maps are reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100022432 Savills (UK) Ltd, and published for the purposes of identification only and although believed to be correct accuracy is not guaranteed. Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Designed and Produced by Savills Marketing: 020 7499 8644