Petersgate House sells for £1.8 million

A town centre office building, Petersgate House, has been sold for £1.8 million, agents on the sale Impey have confirmed.

The property, opposite Stockport’s Central Library on the corner of St Petersgate and Wellington Road, had been due to be sold at auction in January. Sellers, Maidenhead-based Proudkey Properties, however, accepted the above-asking-price offer less than a month after the property went on the market; Petersgate House had commanded a guide price at auction of £1.7 million. Buyers of the property have not be announced officially, with Place North West reporting that a Middle East-based firm with other holdings in Stockport has acquired the property.

The six-storey block houses a total of 20,800 sq ft of commercial floorspace, plus 34 basement parking spaces for occupiers, and is well situated for town centre transport links via Stockport Railway Station and Stockport’s new transport interchange currently under construction on the former bus station site off the A6.

The building had attracted significant interest from both investors and residential developers, and the property sits close to a number of town centre locations being earmarked for new housing schemes, including the 3,000 homes planned as part of the Stockport MDC’s regeneration of the town centre west area on the opposite side of the A6, as well as plans on St Petersgate and neighbouring, such as Plus House.

Buyers plans for Petersgate House have not been confirmed.