Wednesday, October 18, 2017

News: £1.1m price tag for historic town centre property

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A Grade II listed retail parade built on the site of the College of Jesus in Rotherham town centre has gone up for sale.

2-6 Effingham Street is described as an investment opportunity and is being marketed by property firm, JLL with a guide price of £1.1m.

The opportunity includes the freehold of four well configured retail units with separately accessed office accommodation above. The 8,000 sq ft of retail space is fully let by national retailers Greggs, Harvey & Thompson, Timpsons and The Cash Shop. The upper floors are currently vacant and are being advertised with the potential of conversion into residential units, subject to planning.

The sales brochure shows that the property brings in £104,815 per annum and the £1.1m sale price represents an initial yield of 9%.

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The brochure states: "The property occupies a prominent and 100% prime retailing position at the corner of the pedestrianised College Street and Effingham Street, on the eastern side of All Saints Square.

"The property was constructed in the 1930's and provides a retail parade comprising of four retail units at ground floor, ancillary accommodation on the first floor and office accommodation on the second floor. The property is Grade II listed, and is within the Rotherham Town Centre conservation area."

The property, along with the large B&M Bargains unit that surrounds it, are built on the site of the former College of Jesus.

In 1482, Thomas Rotherham, the priest who was appointed Archbishop of York and Lord Chancellor, oversaw construction of the Chapel of Jesus on the south side of All Saints Church in Rotherham and the following year saw work start on the Chapel on the Bridge. Thomas was also responsible for the College of Jesus on the site of his birthplace, accommodating church choristers and grammar school teachers.

Following the suppression of chantries in 1547, the college buildings were converted to a mansion, before becoming part of the College Inn. For many years College Yard / College Square was a focal point of the town; large crowds gathering to hear the proclamation of new monarchs, the declaration of election results and on other public occasions.

Parts of the college building survive incorporated into later buildings. The remnants are notable as the earliest surviving brick structure in South Yorkshire and formed part of a fundamental element in the development of Rotherham.

The walls of the college were repeatedly altered before being incorporated into present structure dated 1930 and by the architects, Flockton of Sheffield. They were thought to be lost but were re-exposed during internal remodelling in 1984 but are now encased.

A 17th Century doorway from college buildings was re-erected in the nearby Boston Park.

JLL website

Images: JLL

4 comments:

Rod Laughton October 19, 2017 at 3:31 PM  

Thomas Rotherham was Lord Chancellor and then Archbishop of York. He was never Archbishop of Canterbury.

Tom,  October 19, 2017 at 4:24 PM  

Happy to be corrected Rod. That's the last time I believe what I read in the Rotherham Council Conservation Area Appraisal and Management Plan Interim Planning Statement 2006...

Anonymous,  October 22, 2017 at 8:58 AM  

It doesn't say in the text above that he was Archbishop of Canterbury.

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