The rational behind the purchase of the site was the attractive existing income stream/yield and future development potential.
A scheme was drawn up to include a 120 bed Premiere Inn Hotel, 36 extra-care apartments and a 15,000 sq ft new retail parade at ground floor level.
Due to the deterioration in market conditions in 2008 the decision was taken to concentrate on a long term hold strategy for the site.
SB2 sold their interest back to their partner.
