Shoe factory under hammer
PERMISSION FOR 17 VILLAGE HOMES HAS ALREADY BEEN GRANTED
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 – but 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 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 newbuild apartments in the grounds. Each property will have two bedrooms and the site will include 26 parking spaces, landscaped area and a cycle store.
Leicester valuer Carl Finch said: “This is a fabulous opportunity to
ALL CHANGE: Barrack House, with Barwell High Street in the distance, and, right, the new plans
It is an opportunity for a private residential scheme rather than a dilapidated factory
shape the landscape of Barwell and provide muchneeded 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, 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 we have developed is a fantastic opportunity for a private residential scheme which will add value to the surroundings and create more dwellings, rather than having 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.”
Mr Solanki also runs former Wetherspoons pub, The New Baron of Hinckley, which relaunched after the easing of the coronavirus lockdown.
Barrack House is due to be sold by SDL Auctions in its national property auction on September 30, with bidding by telephone, over the internet or by proxy.
Nirad Solanki