We are delighted to offer for sale a rare freehold office refurbishment/residential development opportunity, in this rapidly improving part of the town.
The property comprises an adjoining pair of three storey office buildings, with extensive parking to the front and small undercroft to the rear. Basements are also included.
The property presents a fantastic opportunity for a refurbishment/investment or for a multi-unit residential development scheme, subject to planning.
The existing arrangement of accommodation provides individual office rooms throughout the properties and includes wc and kitchen facilities.
The property is of historic local value and is Grade II Listed, offering the opportunity for a premium apartment scheme.
The front parking area runs along Wilson Patten Street and reaches the corner of Bold Street, with access via Stanley Street.
The property is situated along Stanley Street, set back from Wilson Patten Street, near to the telephone exchange, within the Wilson Patten Street residential development corridor.
The property is situated a short walk from Warrington Bank Quay Station and the retail core with all its amenities. It is also close to Mersey Bank House, which has recently been acquired by the University of Chester.
Net Internal Area
27 Stanley Street: 128.3 m 1,381 ft
29 Stanley Street: 259.9 m 2,797 ft
Total: 388.2 m 4,178 ft
Mains electricity, water and drainage are connected.
The property is predominantly sold with vacant possession on completion, with the exception of the ground floor front corner suite of 29 Stanley Street, which is let to Lumen Technologies UK Limited for a term to expire 30th September 2027 at a current rent of £10,000 pa, this is due for review 1st October 2021 and 2025, upward only and in accordance with RPI. We estimate that the rent should increase to approximately £11,000 pa wef 1st October 2021. The Tenant has a break option 1st October 2022.
We have not made any detailed enquiries of the local planning authority, however, in our opinion the site benefits from clear residential development potential, having good access, parking and surrounding residential property.
The sale price is £385,000 for these valuable Freehold interests, that are held on 2 separate Titles.
Unconditional offers are requested for both properties together.
We are advised that VAT will not be applicable to the above sale price.
Contact: Rob Bates
( Agency Pilot Software Ref: 847 )