A landmark town centre building which was once home to the famous Prestons of Bolton has been sold - a number of years after the iconic institution closed its doors.
The jewellers was in business for more than 140 years before it closed at around the same time as Beales, also on Deansgate, in 2016.
Beales, once Whitakers, was replaced by other businesses over time. Slater Menswear opened around four years ago, as did Heavenly Desserts, although the latter remains shuttered after a suspected arson attack.
Now the famous Prestons of Bolton building has sold on, with yet no clue to its fate.
READ MORE: Bolton Primark to leave Crompton Place for Debenhams.
The Bolton News understands the site was sold to an anonymous investor in London. This anonymous investor is looking at a number of options, but there is no planning application at this time, one source said.
The price paid by the buyer is unknown but the rental value as advertised by the agent Fletcher CRE is in the region of £60,000 per year.
Cllr Martyn Cox said: "I’m glad to see this investment in our town centre it is most welcome.
"We recently held an investor day in the town hall to encourage further investment in Bolton which attracted hundreds of people and we are planning more of them in the near future.
"I know town centres across the country are going through a profound change but I won’t stop banging the drum for Bolton and doing all I can to attract more investment not only into Bolton but also the district town centre’s including Westhoughton, Horwich Little Lever and Farnworth."
An advertisement about the property states: "The property comprises of a unique landmark building in the town centre which previously was occupied by Prestons of Bolton the jewellers.
"The ground, first floor, second floor and basement areas were all used by the jewellers to showcase their jewellery. It also has an impressive 'clock tower'."
READ MORE: Readers react as Bolton Primark to leave Crompton Place.
It adds: "The property is situated on a prominent corner location at the end of Deansgate with substantial frontage to Bradshawgate and Deansgate. There are also a number of nearby occupiers which include Marks & Spencer, Superdrug and Waterstones.
"The property is also located adjacent to Church Wharf which is earmarked for a substantial mixed-use redevelopment scheme where demolition has already commenced. It is also in close proximity to the recently consented Victoria Square development."
Founded in the 1860s by James Preston, and inherited by Gertrude Duckworth on his death, Prestons of Bolton became 'The Diamond Centre of the North' over the course of a century.
At its pinnacle, an average Saturday saw it sell dozens of engagement rings, while one Saturday in 1976 saw it sell some 168 wedding rings in a single day.
A change on the high street took its toll, however, and Prestons of Bolton went into administration in 2004. It was bought out of administration by Karl Massey but closed back in 2016.
Sue Meade, the store manager at the time, said "it succumbed to the decline of the high street".
This article was written by Jack Tooth. To contact him, email jack.tooth@newsquest.co.uk or follow @JTRTooth on Twitter.
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