Pugh puts mills under hammer
Three mill properties are amongst a variety of lots on offer at the next Manchester sale due to be held by Pugh & Co on Thursday 6 September 2012.
Chatham Street Mill, a two-storey development in Wigan, and Albion Mill in Salford are both partly occupied and income-producing. Old Saw Mill in Oldham is a vacant, detached property with full planning consent for a change of use to a day nursery.
In addition to the mills, commercial lots at the auction at Old Trafford Football Club include the Bird Ith Hand Inn in Todmorden, which is being offered with vacant possession and planning permission, with a bottom guide price of £50,000. A stone former Working Mens' Club in Earby, Lancashire is also going under the hammer with planning consent for three houses and a bottom guide of £65,000.
Paul Thompson, director and auctioneer at Pugh & Co, said: "There is a real mix of commercial properties available in September's Pugh auction. Historically, the Manchester events are really well attended and the busy atmosphere on the floor is always a great feeling but following the summer holiday break, we expect a lot of interest in the next auction and we are really optimistic about the outcome.
"It's interesting that three mills are up this time as there have been waves of interest in a certain types of properties being sold for specific uses recently. Former public houses and churches have been sold for conversion into apartments and former public park toilets have been really popular for transformation into small hairdressing salons."
Pugh & Co holds seven auctions in Manchester each year, acting on behalf of clients such as local authorities, corporate clients, banks and receivers. This year, so far, £48m has been generated across all four auction venues in Manchester, Liverpool, Leeds and Newcastle.
The Manchester auction will take place at Old Trafford Football Club at 12 noon on Thursday 6 September.