CBRE has been appointed to dispose of the 45,000 sq ft former mill in Lancaster, which has planning consent for 107 student bedrooms, for offers in excess of £2.6m.
The building is located at the edge of the University of Lancaster’s campus and was taken through planning by Preston-based developer UK Mills. The consent is for 107 studio apartments along with ground floor amenity and commercial uses.
In May 2016, a Planning Inspector overturned the refusal by Lancaster City Council to grant consent for UK Mills’ proposals, bringing to an end a two year-plus planning battle.
The five-storey red brick building was constructed in the 1850s and has been stripped back to almost shell status, save for the retention of period features.
Nick Huddleston, associate director in CBRE’s Manchester-based specialist markets operation, said: “We are very excited about bringing this property to the market and will be seeking offers for the building with the benefit of the current planning consent.
“Galgate Mill offers a fantastic and unique development opportunity to create a new high-end boutique studio scheme next to the university.
“With a shortage of purpose built student accommodation schemes in Lancaster, particularly boutique studios within the city or on campus, this scheme will provide much needed high specification accommodation.”