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Detached house for sale
6 + 7 Peveril Buildings, Loch Promenade, Douglas
£1,000,000
6 + 7 Peveril Buildings, Loch Promenade, Douglas
£1,000,000
Our Summary
- Spanning 18,500 sq ft, this landmark building offers both secure rental income and outstanding potential for future development — making it an ideal proposition for investors and developers
- Above the bar and club, the upper floors, which once comprised two hotels, have been stripped back to open plan layouts — offering a blank canvas for conversion
- With the backdrop of panoramic, uninterrupted sea views, the space lends itself perfectly to the creation of luxury apartments, boutique hotel suites, or other creative commercial or residential uses, subject to any necessary consents
- This is a standout property in one of the Isle of Man's most prominent locations, with dual appeal: income-producing from day one and offering exceptional long-term development potential
- Development opportunity
- Upper floors offer a blank canvas for conversion
Description
A rare opportunity has arisen to acquire a substantial freehold property on Douglas's prestigious Loch Promenade, boasting 18,500 sq ft of space. The property offers a secure rental income from the ground floor and basement, which is currently home to the well-known Tigh Fitz Bar and Nightclub, generating £30,000 per annum. The upper floors, previously two hotels, have been stripped back to open plan layouts, providing a blank canvas for conversion into luxury apartments, boutique hotel suites, or other creative commercial or residential uses, subject to necessary consents. With panoramic sea views and dual appeal as an income-producing property and with long-term development potential, this is a standout property in a prime location, with the vendor open to part-exchange discussions and considering offers.