Chance to buy your own Lancashire mill for a less than the price of a semi
A historic Lancashire mill is going under the hammer next week - with a guide price less than an average semi.
Padiham’s Albert Mill - a three-storey, stone-built former cotton mill on Wyre Street - will feature in the next live streamed online auction held by SDL Property Auctions, on November 27. The building has been given a £150,000 guide price.
For context, the average house price in Padiham is approximately £130,589, according to Rightmove, though other sources like OnTheMarket place the average around £116,000. Terraced houses average around £100,626, while semi-detached properties average £177,950 and detached properties average £243,885.
Andrew Parker, partner and auctioneer at SDL Property Auctions, said: “Historic Lancashire mills like this one are more than bricks and mortar, they are an important part of our industrial heritage and tell the story of mill towns like Padiham.
“What makes buildings of this type so exciting as an investment proposition is their adaptability. Over the years, former textile mills like Albert Mill have been transformed into everything from modern apartments and office space to creative studios, workshops, leisure venues and community hubs. With the right vision and investment, spaces like this can be brought back to life in a way that respects their past while creating long-term value for the area.”
Albert Mill covers 23,500 sq ft over three floors and stands on a 0.2 acre site. Auctioneers say it could be suitable for a range of new uses, subject to planning consent.
“We’re already seeing strong interest, which reflects the growing appetite among investors and developers to preserve heritage buildings while finding them new purpose,” added Mr Parker.
For more information about the mill in Padiham, or to register to bid remotely online, by phone or by proxy, visit sdlauctions.co.uk.