The former home of St Austell Brewery will head to auction on Tuesday in a rare opportunity to own a piece of brewing history.

A prominent four-storey building in the heart of town, Tregonissey House housed the first steam brewery built by company founder Walter Hicks in 1870. It was the brewery’s main site for two decades before it moved to its present location on Trevarthian Road.

Tregonissey House has since served as a residential home, retail unit, restaurant and commercial office space.

Planning permission was granted in 2020 for its partial conversion into residential apartments. A new owner could develop nine homes across the ground floor upwards while keeping the existing offices intact on the lower ground floor.

The 8,500 square foot building will be sold at a livestream auction with a guide price of £425,000.

Managing the sale, Auction House South West describe the property as an “attractive investment opportunity”. It is currently let to three commercial tenants, generating £45,668 per annum, with a further unit vacant. Fully let, the property could earn circa £56,000pa.

The lower ground floor, currently occupied by Millerson Estate Agents, is not affected by the planning permission and can continue to produce income once the apartments are completed.

A spokesperson said: “The exciting opportunity exists to continue receiving generous income from the commercial tenants or to utilise the planning permission and proceed with the conversion of this historic building, or a combination of both.”

Details of the planning application can be found on the Cornwall Planning Portal under the reference PA20/06665.