It once housed a thriving tailoring business that has made silk jackets for Stella McCartney’s fashion collection and riding jackets for Princesses Beatrice and Eugenie.
But having owned the property for 40 years, the family behind the firm has moved its tailoring business into a new workshop, leaving its former premises empty and ripe for renovation.
The building in Manchester’s Pendlebury is being sold at auction via estate agents SDL Auctions, which says it could be converted into a comfortable family home or several flats subject to planning permission.
It is being advertised for sale with a guide price of £165,000, although properties at auction can sell for much more.
Well-connected! This building once housed a tailors that helped dressed the Royals
Fit for a Princess! The tailors made riding jackets for Princesses Beatrice and Eugenie
MailOnline Property spoke exclusively to the owner Mark Little, who explained that the family tailoring business had been started by his dad and brother.
‘At one point, we had 40 employees, including eight members of our family. We made riding jackets for Princess Beatrice and Eugenie. Stella McCartney also visited the factory when we made silk jackets for her collection,’ he said.
The parents have now retired from the business, leaving Mark and his brother to continue it.
During lockdown, they built a new workshop, which they moved the business into.
Mark added: ‘The property would now suit being converted into half a dozen flats as it has great transport links into Manchester.’
The property is being sold at auction and goes under the hammer on September 30
The property is leasehold, but the estate agent is keen to state that this should not deter buyers.
Andy Thompson, of SDL Auctions, said: ‘It has a 999 year lease – so a virtual freehold. It’s from June 24, 1877 and the annual ground rent is £32.
‘While freehold is obviously beneficial, I don’t anticipate that this will have any significant affect on the end sale price of the property. ‘
The estate agent handling the sale says the building has ‘plenty of development potential’
The property has been owned by the same family of tailors for 40 years
The premises has a rich history in the tailoring industry, having made garments for various celebrities
Having started as a single-shop building in 1979, the business expanded to claim the other three adjoining buildings in a row.
It has access to good transport links, via a local bus network and Swinton railway station.
Mr Thompson added: ‘I first inspected this property almost a year ago, when it was still used as running business premises. Now, having been in the family for so many years, I am delighted that SDL has been appointed as the chosen auctioneer to bring this property to the market at the end of the month.
‘With such a rich history and plenty of development potential, both myself and the Little family agreed that it was perfectly suited to our busy auction room, which has so far seen more than 1,000 individual registered bidders at each of our monthly events throughout the lockdown period.
‘The property itself has plenty of potential and with a guide price of £165,000, we’re expecting strong interest when it goes under the hammer on September 30.’
BUYING A WRECK AT AUCTION
Many people head to an auction room to buy a property that needs plenty of work. But while this can be a good way to find a project, it is vital not to get carried away and pay over the odds, as once the hammer comes down, you’re committed to the purchase.
A few points to bear in mind at auction:
1. Do not forget that on top of the purchase price you have to pay for the work that needs doing – especially if the aim is to try and make a profit.
2. Check the legal pack. Make sure there are nothing that would make it awkward to resell.
3. Get quotes beforehand so you know what the work will cost.
4. Consider the key selling features for a resale – if the property backs onto a railway line, for example, it will affect how quickly you can sell it on.
5. If you can, pick a property in a good area, which includes appealing features such as good transport links.