June auction of Accy buildings

[GEaston]

Looks like a landlord went bust in the town, with almost all of the residential properties in this months Eddisons catalogue coming from Accy.

http://www.eddisons.com/property-auc...r/residential/

What can folk tell me about this place? Don't know it, but it looks like an interesting challenge. http://www.eddisons.com/property-auc...alogue/174-10/. Clearly something was planned, attempted and failed. Was the planned redevelopment of this building/area a victim of the recession?

[MargaretR]

On this site -
Message

Scroll to almost the bottom left and you will read that it was built in 1895 and was originally the Liberal Club.

It may well be in the conservation area - to find out download here-
Hyndburn Conservation Areas

There is an acute shortage of 1 bed flats in the area so that may be a use for it. It looks from your link that permission was granted and lapsed. It never has been residential - was used as offices for the now defunct Shop Fitters Co. who occupied the adjacent mill, recently mainly burnt down and mostly demolished.
It is in decent and popular area of town.

[GEaston]

Thanks Margaret. I'm aware of the acute shortage of 1 bed flats in the area due to the nature of the 2 bed building stock and the introduction of the bedroom tax which we've discussed at length on the forum. I have 3 one bed flats currently planned or in build in the town - a small scale test for a larger development such as this.

Before taking on a project like this it obviously pays to discuss both the building and the area with people that know it better. All I know of it is what I can see on the internet. I'm a sucker for fine buildings like this, especially at this type of price, but am under no illusions as to the hundreds of thousands required to actually convert it (no doubt the cause of the bankruptcy of the current owners).

Nice to hear that you believe the area to be good. Location being the no1 factor behind any project.

[Neil]

When I moved to Ossy about 12 years ago it was our doctors surgery until they moved into their new place on Union road a few years ago. It has stood empty since then.

Rhyddings Street is currently being resurfaced from Union Road to Catlow Hall Street.

[Neil]

Originally Posted by GEaston

Nice to hear that you believe the area to be good. Location being the no1 factor behind any project.

It is a nice location but I am slightly biased as I live at the other end of the street next to the park.

[cashman]

Seems a gift to me at yon price, cost to do up i imagine, but damn good area, n location in my view n ive never lived up yon.

[jaysay]

Knowing the building like I do, just wondering how many 1 bed flats you'd get out of it, its very deceiving from the outside, every floor was utilised when it was Shopfitters, from basement to loft, the basement was the cafeteria, showroom, first aid and photographers studio, the loft was an extensive Bar showroom, one which was in full use serving Newcastle and Scottish breweries

[GEaston]

The planning permission of 2007 was approved for 24 one and two bedroom flats, so yes the building is huge.

The price on the face of it looks like a gift, but it's pointless buying without also having the cash to refurbish it. That's gotta be 24 x 20k minimum which is a further half a million pounds.

So whoever buys it will be all in for minimum 500k, and sure they'll then have a property that generates 10k a month in rent, worth maybe 1m but you have to have 500k to begin with and even if you did it's a risk. The risk is you end up in a situation like the owner of Accrington Conservative Club - a building that is a true liability not an asset. Whoever the current owner is found that out to his cost also. They got permission in 07 but presumably didn't have the money to do it (2007 being the start of the recession so presume banks pulled out of funding the project) and they reapplied in 2010 but pulled the application presumably as they didn't have the money. The sale via a liquidator would bear that out. Banks wont lend on commercial these days (or anything it seems).

One other point, dont forget landlords of empty buildings have to pay rates which are calculated based on floorspace. This one is massive so will come with big bills for whomever carries it as an empty unproductive space.

I'm just trying to get a sense of what it's like inside - is it a pigeon coup like Accy Conservative Club or is it structurally sound? Guess I won't know without taking a look. If it's been empty since 07 it might not be too bad.

[jaysay]

Originally Posted by GEaston

The planning permission of 2007 was approved for 24 one and two bedroom flats, so yes the building is huge.

The price on the face of it looks like a gift, but it's pointless buying without also having the cash to refurbish it. That's gotta be 24 x 20k minimum which is a further half a million pounds.

So whoever buys it will be all in for minimum 500k, and sure they'll then have a property that generates 10k a month in rent, worth maybe 1m but you have to have 500k to begin with and even if you did it's a risk. The risk is you end up in a situation like the owner of Accrington Conservative Club - a building that is a true liability not an asset. Whoever the current owner is found that out to his cost also. They got permission in 07 but presumably didn't have the money to do it (2007 being the start of the recession so presume banks pulled out of funding the project) and they reapplied in 2010 but pulled the application presumably as they didn't have the money. The sale via a liquidator would bear that out. Banks wont lend on commercial these days (or anything it seems).

One other point, dont forget landlords of empty buildings have to pay rates which are calculated based on floorspace. This one is massive so will come with big bills for whomever carries it as an empty unproductive space.

I'm just trying to get a sense of what it's like inside - is it a pigeon coup like Accy Conservative Club or is it structurally sound? Guess I won't know without taking a look. If it's been empty since 07 it might not be too bad.

The guy to ask is probably Neil G, its two years since I was near enough to look at the old place but it was still in tact then, never heard any reports of any major vandalism and I'm sure its nowhere as near like Accy Con

[Mick]

Originally Posted by Neil

It is a nice location but I am slightly biased as I live at the other end of the street next to the park.

That's why that end has gone down hill in the last 12 years

[Judith Addison]

I would love to see something done with this building - it is in the Rhyddings Conservation Area but has been standing empty since the doctors moved out a few years ago. The adjoining Rhyddings Mill site is also a mess and has frequently been fire-damaged. Parts of it are listed but I understand that an application for delisting has been with English Heritage for several months. If delisting was obtained it is possible that the old mill building would be demolished and the site redeveloped. Residents have also been fighting for a long time to have the public right of way reopened that goes through from Rhyddings Street (facing Ossy Con) to Stone Bridge Lane (facing Stone Bridge Garage). The modern warehouse-type building between Rhyddings Mill and Charles Street has also been standing empty since the Global Conference Centre (formerly Hope Centre) moved out. Plenty of potential for redevelopment of this area. Also the vacant land rear of 1 to 31 Catlow Hall Street.

[jaysay]

Originally Posted by Judith Addison

I would love to see something done with this building - it is in the Rhyddings Conservation Area but has been standing empty since the doctors moved out a few years ago. The adjoining Rhyddings Mill site is also a mess and has frequently been fire-damaged. Parts of it are listed but I understand that an application for delisting has been with English Heritage for several months. If delisting was obtained it is possible that the old mill building would be demolished and the site redeveloped. Residents have also been fighting for a long time to have the public right of way reopened that goes through from Rhyddings Street (facing Ossy Con) to Stone Bridge Lane (facing Stone Bridge Garage). The modern warehouse-type building between Rhyddings Mill and Charles Street has also been standing empty since the Global Conference Centre (formerly Hope Centre) moved out. Plenty of potential for redevelopment of this area. Also the vacant land rear of 1 to 31 Catlow Hall Street.

Think the pathway through to Stone Bridge Lane is actually Watson Street Judith, as that was the address of the bowling green which was the car park of the hope centre, years ago and was sold to Shopfitters as part of the deal to refurbish the Club in 1966. The buildings or should I say ruins of the old mill should have been demolished years ago, sometime English Heritage don't use common sense, some things can't be saved, this is one of them

[accyman]

regarding that building theres a lot of fires in the neighbouring properties which are either arsonists or dodgy insurance claims.Its a miracle that building hasnt gone up in flames which it very nearly did when the last major fire happened there.Still got it on video somewhere .The heat was so intense you could hardly stand at tescos without feeling it.

that was when the complex to the rear went up in flames but there have been fires to the buildings to the left of teh propperty too

personally i wouldnt risk it and its probbably why its going cheap

[GEaston]

Great info thanks Accy.