BARROW'S historic Newspaper House has been described as a 'compelling' investment opportunity amid the town's 'huge' potential.

The former Mail office is due to go under the hammer next month after being put up for sale by its owners the Abbey Road Regeneration Group.

Auctioneers Pugh say the town is 'undoubtedly' a good place to invest in.

The building was sold by Newsquest Cumbria in 2020 and The Mail now has a base near Ramsden Square.

Edward Feather, from property auction house Pugh, said: “The former newspaper offices are a well-known property in the town and in a great location on Abbey Road.

"With planning consent already in place to convert the building into apartments and business units, this is a really compelling investment opportunity.”

He added: “The recent government announcement marking out Barrow as a ‘powerhouse for the north’ with new homes and business space that will tap into the region’s scientific and technical expertise, highlights the town’s huge potential, with the Dreadnought programme already bringing in hundreds of new jobs.

"Barrow is undoubtedly a really good place to invest right now.”

The historic three-storey building has planning permission for conversion into 11 residential apartments and three ground-floor business units or workshops. Under current plans, the residential element of the redevelopment plans would include seven one-bedroom apartments and four two-bedroom apartments, along with a rooftop terrace and parking.

There is also a 40-space car park next to the property, which is let to NCP at £12,000 per year, and generating £8,000 additional income from local permit holders.

The building first went on the market for £1million and is being listed for auction on September 20 with a guide price of £500,000.

Owner David Clark said he hopes potential new owners would realise an ambitious plan to build a modern apartment block in place of the car park, with an influx of new jobs and investment in Barrow on the horizon.

He said: "What we're doing is we're looking to sell this to an established developed who will take advantage of what's happening in Barrow.

"We're trying to bring something iconic to Barrow in a great location.

"We feel it's time to be given to somebody with a bigger ambition who's got the energy for Barrow's young future."