Property

Landmark building on The Downs sold for £725,000

By David Prior at

A landmark office and retail building on The Downs in Altrincham has been sold to a private investment company for £725,505.

The investment at 1-7 Downs was sold by Willan Investments to TELL Holdings Ltd.

The building, located at the corner of Ashley Road and The Downs, comprises 6,826 sq ft with six offices suites on the three upper floors, the majority of which are let and two ground floor units at 1 and 7.

The 600 sq ft retail unit at 7 the Downs has just been let to a hearing aid company on a five-year lease at a rent of £10,000 per annum.

The vacant leisure unit at No 1 is currently said to be attracting a “fair amount of interest” given its position at the apex of the building looking down Railway Street and Stamford New Road. The former Barclays Bank has been a series of mainly bars in recent times.

The former Barclays Bank at the apex of The Downs has taken on a number of different guises in recent years

Daniel Lee, director, Regional Property Solutions who acted for the vendor, said: “Following TELL Holdings purchase of the building it has appointed RPS as the managing and letting agents. Situated in a prime location it provides the ideal opportunity, through pro-active asset management, to achieve an uplift in rental stream.”

This iconic building is also home to a handsome clock which dates back to the early 19th century that is still keeping time for the town’s inhabitants today. It is regularly maintained by the original clock makers.

Regional Property Solutions and Thomas Willmax acted for the vendor.