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2019-01-22 11:57:05

Blog by Lucinda Holt



Chance to convert historic Preston warehouse into Grade A office space



An historic warehouse in Preston’s business district is for sale and suitable for conversion into the city centre’s only Grade A office space.

 

The Union Carriage Works in Guildhall Street is being converted into loft apartments by Etc Urban Developments.

 

The Preston and Soho, London, based developer has put the entire ground floor up for sale aiming to attract a buyer seeking to fit out their own custom designed offices.

 

Preston has an acute shortage of modern Grade A office accommodation and the opportunity to take over 3,700 sq ft in the heart of the city and in a beautiful, atmospheric late Victorian warehouse is exceedingly rare.

 

Charles Bell of commercial agent Morgan Martin is selling the space. He said: “The premises form part of The Union Carriage Works which is currently undergoing a programme of refurbishment and redevelopment to create 18 loft apartments on the upper floors.

“The ground floor offers self-contained accommodation which will benefit from new full height shopfronts and entrance doors, exposed timber floor boards and brick works internally with acoustic board ceiling.

 

“This blank canvas gives a purchaser an unusual opportunity to fit out the accommodation to their own specification.”

 

The ground floor of The Union Carriage Works already has planning consent for restaurant use, but Etc Urban believes the demand from office occupiers will exceed interest from the food and drink trade.

 

Buying office space using directors’ personal pension funds is a popular way for businesses, particularly in professional services, to invest in their own office and future.

 

Recent examples of companies buying buildings in the city centre for office use include Soap Media in Glover’s Court, Anderton Gables in Cross Street and Wash Design in Winckley Square.

 

Neil Thornton, director of Etc Urban, said: “We’ve considered various ideas for the ground floor of The Union Carriage Works and it will suit a variety of uses from restaurant, to retail to office or gallery space.

 

“The lack of any Grade A office accommodation in Preston city centre strongly suggests there is a pent up demand for it right now and we know of several professional service companies who are actively looking to purchase their own offices.

 

“There are not many opportunities to buy a genuine piece of Preston’s industrial past – in such a fantastic location - with a lot of history and turn it into your own bespoke space.

“We have taken a lot of effort to get a shell and core space ready for a bespoke fit-out and we have refurbished all the external features and installed new entrances, doors and windows. We can also help with the design of the office space if required.

 

“With a stylish fit-out, The Union Carriage Works will be Preston’s best-looking office accommodation by some distance.”

 

The ground floor of The Union Carriage Works is expected to be ready to occupy from April 1, 2019.

 

For more information please contact Charles Bell at Morgan Martin on 01772 556666 or email charles@morganmartin.co.uk

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etcurban
© 2018

Contact
+44 (0)20 7279 0375
neilt@etcurban.com

Connect