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Napthens advises as historic Preston Docks building is acquired

A landmark building at Preston Docks has been acquired and will be transformed into serviced office spaces.

The historic Old Docks House, at the junction of Watery Lane and Port Way is known for its art deco clocktower and has formerly housed businesses including outsourcing company NCO Europe and, more recently, advertising company The Community Network.

It has now been acquired by The Watermark, a business which currently operates two serviced office spaces in the city – The Watermark, Ribbleton Lane and Preston Enterprise Centre, Salter Street. The Watermark site has become known as a hub for businesses working in the creative and technology sectors.

The two-storey Old Docks House offers more than 12,000 sq ft of space with parking for 40 cars. The new owners are planning a programme of refurbishment and are due to open for business in late summer.

The new owners were advised on legal issues by Marc Appleton, Commercial Property partner at regional law firm Napthens. Robert Pinkus & Co chartered surveyors and property consultants also advised.

Agent for the sellers, Barnard Estate Properties Ltd, was Adam Taylor of Duxburys Commercial.

Marc Appleton of Napthens said: “This is a truly landmark building and it’s great to see its future secured after being empty for some time.”

Altaf Ali of The Watermark said: “Old Docks House is a prestigious building and we’re pleased to play our part in reviving it and giving it a new lease of life.

“We expect the work to get the building ready to take around four months, and once complete it could house as many as 20-30 businesses, offering a chance to be part of a historic building without the financial commitments required to lease or acquire it in its entirety.”

Preston solicitor Marc Appleton