Former Preston probation office goes to market
Cushman & Wakefield has been appointed by the Ministry of Justice to sell its office at 50 Avenham Street in Preston city centre.
Marketed as a freehold acquisition with the opportunity for entire site redevelopment, the probation office is surrounded by a mix of retail, office, and residential properties.
Spread across the building’s four floors, 11,750 sq ft of floorspace is available for office use, but Cushman & Wakefield has highlighted the building’s potential for a residential conversion.
A guide price has not been specified. The property is currently held on an unencumbered freehold basis.
Office rents in Preston average between £10/sq ft to £15/sq ft.
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The office is located within the Stoneygate masterplan, described as a 62-acre “urban village” that could deliver 1,600 homes in what would be one of the largest regeneration projects in Preston city centre.
Unconditional offers are being sought by way of informal tender.