Residential developer completes sale of Seaton House

Residential property developer, One Heritage Group, has completed the sale of former town centre printworks, Seaton House, for £600,000.

The group acquired the property in 2022, and sought permission to deliver 35 apartments on the site later that year. While a planning application had previously be granted to convert the Victorian building into 12 homes, progress on One Heritage Group’s denser scheme, which included a rooftop extension and new block which would house 20 of the apartments proposed, stalled and the planning application has since been withdrawn. Planning approval for the original 12-apartment conversion planned for Seaton House remains valid.

One Heritage Group has also exchanged conditional contracts for the sale of the land to the rear of Seaton House, an existing car park, for a sale price of £400,000; this area comprises the site where the developers had proposed a new additional apartment block.

The completion of this sale, however, is subject to the buyer obtaining planning approval to develop the site. One Heritage Group’s contract includes a nine-month stop period with the seller, able to extended by three months, wherein the buyer is obligated to submit the planning application within three months of the exchange of contracts.

Should both sales complete, the One Heritage Group is set to generate £1 million gross proceeds to be reinvested in its residential development pipeline elsewhere in the North West. Elsewhere in Stockport, the developer has previously delivered the conversion of Plus House on St Petersgate into 18 apartments.