Renovated Victorian Textile Mill in South Wigston Listed for Sale After Transformation
A recently renovated Victorian textile mill in South Wigston, formerly known as the ‘Pigeon Factory,’ has been put up for sale following an 18-month makeover. The building, which had been empty for over 25 years and described as an “eyesore,” has now been transformed into a modern apartment complex.
History:
The building, located on Canal Street and listed as a historic site, was auctioned off in 2018. The developers then sought permission from the Oadby and Wigston Council to redevelop the site. The project aimed to revitalize the old factory and bring new life to the area.
The Transformation:
Now known as ‘The Hat and Cap Works,’ the three-story factory unit has been converted into 13 “premium standard apartments.” The apartments offer a blend of historic charm and modern lifestyle, featuring large windows, high ceilings, custom-built kitchens, spacious bedrooms, sleek bathrooms, and spotlights.
Property Details:
The apartments in ‘The Hat and Cap Works’ include a mix of four two-bedroom apartments, eight one-bedroom apartments, and a studio. The developers are selling the entire property as a block to an investor. Street parking is available for residents, and the property can be provided with an on-site rental agency and tenants for a hands-off investment.
The Sale:
The renovated mill has been put up for sale for £2 million. Estimated rental prices for the flats range from £700 to £900 per calendar month. The property presents a rental investment opportunity with projected annual returns of over £110,000.
Completion and Future:
Although the renovation is not yet fully finished, with an expected completion date in October 2023, ‘The Hat and Cap Works’ offers a promising investment opportunity for those seeking to own a piece of South Wigston’s history.
Additional Piece:
Revitalizing Abandoned Buildings: A Trend in Property Development
In recent years, there has been a rising trend in property development focused on revitalizing abandoned buildings and repurposing them for modern use. This approach not only provides a solution for empty, deteriorating structures but also adds character and uniqueness to communities.
Repurposing old buildings allows developers to preserve the historical significance of the property while creating new, functional spaces that meet the needs of today’s residents. In the case of the ‘Pigeon Factory’ in South Wigston, the transformation into high-quality apartments has not only brought new life to the area but also enhanced the overall aesthetic appeal.
Furthermore, repurposing abandoned buildings can have significant economic benefits for both investors and the local community. By redeveloping these properties, investors can generate income from rentals or sales while boosting the local economy through job creation and increased property values. The renovation of the ‘Pigeon Factory’ is a prime example of how an eyesore can be transformed into a valuable asset for the community.
This trend is not limited to South Wigston; similar projects can be found throughout the country, contributing to urban revitalization efforts and bringing new opportunities to neglected areas. These projects not only provide housing but also create spaces for businesses, art studios, community centers, and more.
The renovation of the textile mill in South Wigston serves as a beacon of hope for other neglected buildings across the country. It demonstrates the potential for transforming eyesores into attractive and functional spaces that add value to the local area. As cities continue to grow and evolve, the repurposing of abandoned buildings will play a crucial role in sustainable development and the preservation of our architectural heritage.
Summary:
A recently renovated Victorian textile mill in South Wigston, formerly known as the ‘Pigeon Factory,’ has been put up for sale. The building, which had been empty for over 25 years and described as an “eyesore,” has now been transformed into a modern apartment complex. Known as ‘The Hat and Cap Works,’ the property features 13 “premium standard apartments” with a blend of historic charm and modern amenities. The entire building is being sold as a block to an investor, offering a rental investment opportunity. Estimated rental prices range from £700 to £900 per calendar month. The renovation is expected to be completed by October 2023, providing a promising investment opportunity in South Wigston. This revitalization project reflects the broader trend of repurposing abandoned buildings, contributing to urban revitalization and preserving architectural heritage.
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A recently renovated Victorian textile mill in South Wigston has been put up for sale, after an 18-month makeover transformed the site. Formerly known to locals as the ‘Pigeon Factory,’ the building on Canal Street was described by as an “eyesore”, and had been empty for over 25 years.
But in 2018, the building, listed as listed, was auctioned off. Then the developers reached out Oadby and Wigston Council two years later for permission to redevelop the site and they have since completely transformed it.
The property is one of the oldest. in south wigston and prior to the renovation it was well known for its history of bird infestations. But now 13 “premium standard apartments” sit in the building, which has now been put up for sale for £2 million.
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Now known as ‘The Hat and Cap Works’, the three-story factory unit features a mix of four two-bedroom apartments, as well as eight one-bed apartments and a studio. According to Rightmove, the apartments feature “large windows, high ceilings, and custom-built kitchens,” as well as “spacious bedrooms, sleek bathrooms, and spotlights.”
The renovation of the building, which it was built in 1895It is not yet fully finished, according to Rightmove, but is expected to be completed by October 2023. It offers a “blend of modern lifestyle and historic charm” and is claimed to be a “great rental investment opportunity” with annual returns. projected in excess of £110,000.
The property “will be sold as a block to an investor,” according to the housing company, and can be “provided with an on-site rental agency and tenants,” if the buyers seek a hands-off investment. Street parking is also free, meaning on-site parking has not been provided for residents.
Estimated rental prices for the flats range from £700 to £900 per calendar month. These prices are estimates made by Rightmove based on other unfurnished apartments within the area.
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https://www.leicestermercury.co.uk/news/local-news/dilapidated-victorian-pigeon-factory-building-8521393.amp
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