Former factory up for auction
Barrack House is going under the hammer next week
A SCHEME to convert a former shoe factory in Barwell into 17 homes and apartments is taking a step further as the site goes up for auction.
Barrack House in The Barracks is to go under the hammer, with a guide price of £385,000 - auctioneers say it will eventually be worth £2.2 million.
The former shoe factory sits on a site of almost half an acre, close to the centre of Barwell, and it was once a national leader in the footwear industry.
Full planning permission was granted in May 2019 to convert the existing unit into four apartments with four new-build town houses and nine new-build apartments the grounds.
Each property will have two bedrooms and the site will include 26 parking spaces, landscaped amenities land and a cycle store.
Leicester valuer Carl Finch said: “This is a fabulous opportunity to shape the landscape of Barwell and provide much-needed new homes, while potentially seeing a great return on your investment.
“The site is in a convenient location, close to a great range of amenities including bars, restaurants, shops, schools and parks, meaning it is likely to be popular with both buyers and tenants.”
The Barracks is a quiet side street in a residential area, off High Street, with in the property very near Barwell Medical Centre and close to the village centre.
Property developer Nirad Solanki currently owns the site, and created the redesign for the factory site from start to finish.
He said: “The project that we have developed is a fantastic opportunity for a private residential scheme which will add a lot of value to the local surroundings and create more dwellings rather than having site of a dilapidated factory.
“It took us a lot of blood and sweat to get to this stage but we have just taken on a project 10 times larger than this which requires us to raise capital and we thought going down the auction with SDL was a fantastic option.
“Onwards and upwards as they say.”
Mr Solanki also runs former Wetherspoons pub, The New Baron of Hinckley, which relaunched after the easing of the coronavirus lockdown with flame-grilled menu.
Barrack House is due to be sold by SDL Auctions in a new chicken its national property auction on September 30, with bidding by telephone, over the internet or by proxy.