Two major Preston office blocks sold with one likely to become apartments

Norwest Court, in the foreground, and Guildhall House further up Guildhall Street have been bought for development Pic: Google

Two city office blocks running between Guildhall Street and Cannon Street have been sold.

TSS Property, who already own a number of other former office blocks in the city, have bought the office buildings for around £2million.

Norwest Court, which has eight floors and Guildhall House, a five-storey block, were sold by Wain Estates according to Place North West.

One of the blocks is likely to see plans lodged for conversion into apartments.

This follows what TSS has done at the former Booths warehouse and Buckingham House in Glovers Court along with the Unicentre near Preston Bus Station.

Chief executive of TSS, Tauseef Kantharia, said: “We are pleased to announce the acquisition of two high-quality, income-producing office assets in Preston city centre from Wain Estates. The properties have been exceptionally well managed and maintained under Wain Estates’ long-term ownership.

“This strategic acquisition reflects our continued commitment to investing in Preston and enhancing the quality of workspace available in key city locations. Plans are already underway to upgrade and reposition the assets, with the goal of delivering best-in-class office environments that meet the evolving needs of modern occupiers along with a possibility of residential redevelopment for one of the buildings.”

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