A city-centre building is to go under the hammer.
Preston Council hopes an empty property in Church Street will fetch at least £100,000 at auction.
It was a bargain furniture store for years, it’s not been occupied since, and the council doesn’t really see any options for it.Coun Martyn Rawlinson
The building, once a discount furniture store, has been disused since 2010, and leaders want to see it brought back into use.
Coun Martyn Rawlinson, Preston Council’s cabinet member for resources, said: “It’s been empty for a while, it’s no use to the council and it’s not earning any money.
“It was a bargain furniture store for years, it’s not been occupied since, and the council doesn’t really see any options for it.
“So they are going to try to sell it to get a capital receipt, which will fund something else, and hopefully someone might buy it and bring it back into use.”
A report to Preston Council’s cabinet, which was expected to be discussed at a Town Hall meeting last night, asked for consent to auction the building, subject to a reserve price of £100,000.
It said: “The property has been vacant since April 2010, and although until recently it has been marketed ‘To Let’, its poor condition has frustrated a new letting.
“The council is unable to meet the cost of putting the property into a lettable condition or redeveloping the site.”
It said the property was valued at £106,433 in the council’s investment portfolio, and a reserve price of £100,000 had been set after advice from Pugh & Company Auctioneers.
It said: “The sale of the property will enable a currently vacant property to be brought back into use through the private sector.”