Dominvs Group, a real-estate investment, development and asset-management company, has acquired the Ralph Allen Building located in a prime central location in the historic city of Bath. This asset is part of Dominvs Group’s wider strategy of acquiring in key gateway cities such as Oxford, Cambridge and York.
The property was purchased from Bath College and totals 40,000 sq ft arranged over a basement plus four floors. Located on James Street West, the property lies in the heart of Bath and is walking distance from the famed Roman Baths, the Abbey and Bath’s tea houses and shopping lanes. It is also in close proximity to Bath Spa, the city’s central train station.
Lee Saywack from Dominvs Group commented: “This is an exciting investment for Dominvs Group, complementing our growing national portfolio of properties dedicated to a range of uses. The building is in an excellent location at the heart of one of the UK’s key gateway cities and offers real potential for creative asset management. This deal is also a testament to the experience and agility of our team who were able to simultaneously exchange and complete to secure this ideal acquisition for Dominvs.”
Dominvs Group currently has an active development pipeline of projects in key cities across the residential, hospitality and industrial sectors. The hospitality team is experienced in developing hotel sites at landmark locations that are sensitive to their historic surroundings. As well as commencing work on the conversion of the former Tower Bridge Magistrates Court into a luxury 200-bedroom hotel, the team has recently secured planning on two further sites; one for a 140-room hotel scheme in central Oxford and the other from the City of London Corporation to develop a hotel at Ludgate Hill, in the St. Paul’s Cathedral conservation area. Dominvs Residential has several projects underway in and around the capital, including a new scheme in Wood Green which will be made up of 19 private residencies. The commercial portfolio combines prime industrial space with office and mixed use developments, and recent acquisitions include sites in Southampton and Royal Tunbridge Wells.