ALB picks up Preston Wilko
A new tenant by Christmas: that’s the goal for the 50,600 sq ft store’s latest owner, a Nottingham-based developer who has been slowly branching out into Lancashire.
Situated at 162-165 Friargate in Preston, the Wilkos unit has been vacant since the retailer went into administration in 2023.
ALB Group acquired the property for an undisclosed sum. Cited Property and GCW Property Consultants advised on the deal.
The freehold of the Wilkos unit had been advertised by agency Jackson Criss earlier this year, with the space estimated to have a rateable value of £231,000 and an EPC rating of C.
Cited Property will be charged with finding that new tenant by Christmas, with commercial property director Tim Lloyd telling media outlets that talks were already underway with potential occupiers.
The Preston is far from ALB’s first foray north of its Midlands base.
In 2024, ALB became the owner of the former Sports Direct off Blackpool’s promenade, with plans to convert the 75,000 sq ft space into 65 flats. ALB Group is also in talks to acquire the 48,000 sq ft Prudential House in Blackpool.
