Cooke & Arkwright
News
Swiss Family Trust secures seafront jobs
09/07/03
The former United Theological College overlooking the Pier and seafront at Aberystwyth has been purchased freehold for an undisclosed sum by an overseas Family Trust, which has committed itself to the upgrading and refurbishment of the property.
The Trust, whose members are based predominantly in Switzerland, has been involved in UK Real Estate for the last 10 years. It intends to retain the majority of the original staff, all of whom are local, and convert the 33,000 square feet building to provide accommodation to more than fifty students who study at Aberystwyth. It will carry out minor refurbishment initially, but its long term goal is to invest a lot more funds into the building.
Originally completed in July 1896, the Grade II Listed building makes an impressive feature against the skyline on the new Promenade. It was initially founded as a hotel then served as the United Calvinistic Methodist College from 1906 to 2003. The building was also utilised as a Red Cross Hospital in the 1st World War.
Comprising three storeys, a basement and attics, the building features steep Renaissance Dutch gables and scalloped shell lintels. The central arched entrance with dragon-carved spandrels leads into a terrazzo floored hall with a broad staircase, inscribed glass and commemorative plaque.
Ben Bolton of Cooke & Arkwright which acted for the vendor, the Presbyterian Church of Wales, said that the Church was moving its library facilities to Lampeter University and its training facilities to Coleg Y Gwyn in Bangor.
“We had over 20 offers and the guide price was substantially exceeded,” he said. “This reflects the true value of this fine example of architecture and the long-standing role the building has played in the town’s history.”
A representative said that the Trust was delighted to have secured the property and described it as a unique building in a beautiful setting. “We like Aberystwyth and its people very much,” he said “and would happily make further investments in the area if the opportunity arose.”