Wednesday, August 17, 2016

News: Town centre pub up for auction

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A once popular pub in Rotherham town centre is set to go under the hammer next month.

The Cross Keys, which sits on Moorgate Street and The Crofts next to Rotherham Town Hall, has been vacant for a number of years with pubco, Enterprise, unable to secure tenants.

The freehold of the 7,000 sq ft property is set to go up for auction with Mark Jenkinson & Son on September 6. Joint auctioneers are Smiths Chartered Surveyors and the lot has been given the guide price of £125,000 Plus VAT.

The building is listed as having potential for owner occupation or investment and with possible conversion options subject to planning permission.

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According to Rotherham Civic Society, the building was commissioned by the Mappins Brewery to replace a public house directly opposite which was demolished to allow major road widening to take place. Opened in February 1931, the building was designed by James E. Knight and Co, Architects, the company which was created after the death of Rotherham-born architect, Lieutenant Colonel James Edward Knight.

The freehold of The Wilton pub at Kimbertworth is also set to be sold at the same auction and has been given the guide price of £95,000 Plus VAT.

Earlier this year the former public house on Domine Lane, also in the town centre, was sold after an auction with Allsops. Empty for a number of years, the 8,000 sq ft property was previously The Exchange and formerly Yates Wine Lodge. It was given a guide price of £80,000+.

The property forms part of the Westgate Chambers site, the majority of which has been under offer for over a year after Rotherham Council agreed to dispose of its asset. It is hoped that it will be redeveloped into a residential development with an active commercial ground floor.

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Also at Allsops' July auction, Unit 1, 13 All Saints Square and Unit 2, 15 All Saints Square in Rotherham town centre sold for £379,000, above the £350,000 - £375,000 guide price, representing a yield of 12.14%.

This month, chartered surveyors, Rowland Burkitt has been instructed to sell a number of town centre properties. These include the redeveloped building at 20 High Street, home to colourful gift shop, Patchwork Pig with flats above - listed at £250,000, and 33 High Street and 8/10 Moorgate Street - a mixed use property with retail, office and residential flats, listed at £595,000.

Mark Jenkinson & Son website

Images: Mark Jenkinson & Son


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