What a journey it has been for 12-15 Cliff Terrace. Heralded a resounding success in May 2008 as a flagship project for KCC No Use Empty Scheme, the building stood empty until January 2010. The developer, Wards Renovation and Construction Limited (Company Registration No. 5166962), owned by Ramsgate FC's Jim Ward, has gone into receivership.
The whole site has is being sold at auction on December 15th with a guide price of £350k-£360k. The series of buildings remains under one title and has not been divided into separate leases, no matter how many banners were displayed advertising the sale of 'luxury flats'. The details of the sale at the auctioneers state there are 10 flats with rents as low as £60 per week. So just how much of a success is this site? The grave risk is now that with annual rental income of £54k that this stacks up for bottom of the market rental investors.
Is this really the best outcome for a grade II listed building that was hailed as a major success of regeneration?
One would hope that a building control completion certificate has been issued, given the fact that young families are tenants in the building.
And for the future? Well, the interior renovation being far from luxury, then perhaps someone will come along to return the building to it's rightful glory as a restaurant with letting rooms for tourism.
Here are photographs we have taken of the building in the last few years.
Search this blog for 'cliff terrace' to find the story on how this has happened.
Is this really the best outcome for a grade II listed building that was hailed as a major success of regeneration?
One would hope that a building control completion certificate has been issued, given the fact that young families are tenants in the building.
And for the future? Well, the interior renovation being far from luxury, then perhaps someone will come along to return the building to it's rightful glory as a restaurant with letting rooms for tourism.
Here are photographs we have taken of the building in the last few years.
Search this blog for 'cliff terrace' to find the story on how this has happened.
It stood like a fantastic time capsule for many years, waiting for a loving owner to cherish its real charms. Surely it would have just been better left until someone with a real vision had come along.
ReplyDeleteShame and embarrassment on the developers.
Another beautiful building will now be probably lost to transient tenants, and then the fires.
Couldn't agree more, Andrew. We'vehad lots of friends looking to rent who viewed the so called 'luxury' flats that were nothing of the sort. But I do still have hope that with the depreciation of the market for flats and that the site hasn't been legally divided into separate leases that someone will come along and see what an amazing building this is as a whole. Someone please do a hotel with restaurant and shop.
ReplyDelete