Flagship Preston city centre retail site sold to pension fund

The YMCA building on Fishergate, Preston
The YMCA building on Fishergate, Preston
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One of Preston’s most prominent flagship stores at the heart of the city’s retail district has been sold to a private pension fund.

The property at 114-115 Fishergate has been recently occupied by YMCA.

In the past it was home to Warehouse and Miss Selfridge.

The well-positioned building has been sold through joint agents Robert Pinkus & Co. LLP and Smith Price on behalf of a private vendor.

The building’s sale was said to be a further sign that the city centre’s fortunes are on the rise.

The identity of the vendor has not been revealed.

But it is understood that a toiletries chain could be interested in occupying the site.

The 12,710 sq ft, double-fronted property has been fully refurbished to provide good, clear sales space on ground and first floor levels with a full-height glazed frontage.

The large property has also been fitted with a lift and an escalator to the first floor sales area.

Joe Assalone, partner at Preston-based Robert Pinkus & Co. said: “The sale of 114-115 Fishergate represents a pivotal moment in Preston’s regeneration and comes at a very exciting time for the city.

“There is a real buzz and positivity surrounding the various ongoing improvement projects taking place throughout the Central Business District and this is being reflected in increased activity within the commercial property market.”

Meanwhile, a survey has found that demand for commercial property in the North West remained strong during the second quarter of the year.

But available office, retail and industrial space in the region remained in sparse supply, according to the latest RICS Commercial Property Market Survey.