Barracks Square, Macclesfield

To Be Sold By Auction on 15^th August 2024 unless sold prior to Auction.

This is a very rare opportunity to purchase Barracks Square, which has been the central focal piece of this historical development, originally the home of the 2^nd Cheshire Militia and was built in the 1830’s.

64 homes now surround the square and the sale of the square provides a unique opportunity with huge potential to generate income from the site through car parking provisions and potentially other activities or events as has been undertaken in the past.

In the last couple of months, money has been invested into the site to re-dress the car park and preliminary investigations have been undertaken with car parking control companies for the installation of a pay and display system (subject to any necessary consents) together with residents permits and this income would be in addition to an annual maintenance fee which has been collected historically from properties within the square. We also understand that several residences have recently expressed an interest in purchasing areas of the land for car parking spaces, which will clearly have a benefit to their properties and over the years, some spaces have been sold and these are identified as the areas edged in green on the title plan.

We understand that the properties within the square are obliged to pay a proportionate amount towards works within the square to the owner, and an annual maintenance fee is payable as well as a charge for the use of the car park. We understand that Armoury Towers has its own parking and therefore 54 properties are responsible to contribute towards the upkeep/maintenance of the car park.

Interestingly, in the past, Barracks Square has received donations from The Duke of Westminster and also the then MP for Macclesfield, Sir Nicholas Winterton towards the renovations of the car park and an events license was also granted with records showing of a Carol Concert in the past together with other planned events including car boot sales and the site being used as a film set. This obviously gives further potential to generate an income if this was explored and implemented.

Should you require any assistance with arranging finance to purchase the property, please let us know as we are able to assist with specialist long or short term auction finance.

Property Information - Tenure - we are informed is Freehold, however, details should be confirmed from the title deeds within the contract pack.

Buyers Premium - a buyers premium is payable to the auctioneers upon the fall of the gavel and is £2,100 inclusive of VAT.

Vendors Solicitors - Hartley and Worstenholme, 10 Gillygate, Pontefract, WF8 1PQ.

Completion - completion is to take place 28 days after the date of the auction or earlier by mutual agreement.