Cheshire Building Society HQ up for sale

By Bridging Loan Directory -

Businessdesk.com has reported that the former Cheshire Building Society headquarters in Macclesfield town centre has been put up for sale, with Colliers being appointed as agents.

The 42,000 sq ft building at 36 Castle Street in the is available on a freehold basis, although Nationwide will consider leasing all or part of the building.

The site could be used by prospective occupants as a headquarters facility as it contains directors’ suites and boardrooms.The building has a period facade with a modern extension and most of the office space is open plan. It also has parking for 15 cards.

The building is currently empty following the society’s merger with Nationwide Building Society in late 2008 as the financial crisis hit, which caused concern over the future of many smaller societies like Cheshire.

Following a review last year, Nationwide announced that it planned to keep the Cheshire brand but would close the former headquarters in Manchester, as well as an estate agency business and branches in Droylesden, Poynton and Romiley. The shake-up led to around 250 redundancies.

The Cheshire Building Society branch opposite the building’s HQ is being retained by Nationwide and is unaffected by the sale.

Rupert Barron, national director of offices at Colliers International’s Manchester office, said: the building has planning consent for use as offices but could be converted to for alternative uses such as retail and hotel development. The current rateable value of the property is £317,500.

He said: “We’re very confident that this impressive building will be of great interest to businesses seeking a purpose-built head office or a centrally-located building property or prominence that can be adapted to meet their particular requirements.

“Macclesfield is strategically located in central Cheshire and the focus of a major retail regeneration scheme. The historic market town offers strategic road and rail links to Manchester and its international airport, and Birmingham, Liverpool, Leeds London and Chester.”

Potential investment in the site is one of a number of major developments proposed for Macclesfield up for discussion at an economic forum event planned for this Friday, when business leaders will be looking to develop a “Whole Town Vision” spelling out medium and long-term aims for the town.

The new owner of the town’s shopping centre, Eskmuir Securities, has also pledged to invest in the town following its £20m purchase of the Grosvenor Shopping Centre from Axa Real Estate last month.

The economic forum will be addressed by Macclesfield MP David Rutley as well as senior figures from Cheshire East Council, Macclesfield Economic Forum chair Clare Hayward, Macclesfield Town Football Club chairman Mike Rance and developer Wilson Bowden, among others.

Cheshire East Councillor Jamie Macrae, cabinet member with responsibility for prosperity, said: “One aim of the meeting is to get updates on the latest initiatives to revitalise the economy of Macclesfield.

“It is also, importantly, to get the views of major employers and local businesses to help shape the future of the town, provide advice, support and encouragement to help develop new enterprises and encourage networking to further strengthen the local economy.”

The event will start at 7.45am at Macclesfield Town Hall.

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