Prominent Preston office block to go under auctioneer's hammer - here's the surprising guide price
The office block is opposite Preston Crown Court and next to the new Animate development.
One of Preston’s most promiment office blocks is to be auctioned next month - with a surprising guide price.
Ribchester House - a 21,968 sq ft, seven storey building beside Ringway with parking for 17 cars - will go under the gavel on November 11, with a guide price of £450,000.
That’s the same price as a four-bedroomed semi being advertised in Watling Street Road, Fulwood, and less than the average house price in several Preston residential roads, including Catforth Road (£490,000), Gorse Lane (£470,000) and Inglewhite Road (£460,000).
The 1970s concrete-framed block, which stands opposite Preston Crown Court, has been vacant for some time, having previously been home to Forbes Solicitors. It had previously been valued at around £1.8m and recently, permission has been granted to convert it into 36 flats. Part of the rooftop is also let to telecommunication companies at a rent of £13,750 per annum.
In the summer, the empty property attracted trespassing, including an incident where social media users climbed onto the roof after a break-in.
The property is held on a 125 year lease from January 2008.
For more information, contact Auction House London.