Agent Nolan Redshaw has completed the sale of 31,000 sq ft Ashworth House in the town centre on behalf of property company Telereal Trillium to developer Mandale Group.
The office building was previously occupied by Endsleigh Insurance before the company, one of the largest private employers in Burnley, relocated to modern premises elsewhere in the town.
Mandale, based in Stockton-on-Tees is in acquisitive mode across the North and has developments ongoing in Oldham and Altrincham.
Jonathan Pickles, agency surveyor at Nolan Redshaw, said: “This is a major freehold disposal within the town, the building has been occupied for the last 25 years by Endsleigh Insurance and we are pleased to agree the sale to Mandale Group.”
Richard Harriman at Mandale Group said: “We plan to fully renovate the premises and develop high end apartments throughout, which we have already started work on.”
Mandale has approval under permitted development rights to convert the offices into 57 apartments.
Ashworth House was sold off an advertised price of £900,000. Details of the terms of the deal were not disclosed.