Monday, May 21, 2018

News: Another Rotherham town centre block up for auction

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Another commercial building in Rotherham town centre has been put up for sale and is set to go under the hammer this week.

The property at 2 - 10 Drummond Street and 39 - 47 Effingham Street is a freehold retail parade investment opportunity that is in the sales catalogue with leading auctioneers Acuitus for its event in London on May 24.

Including 11 ground floor retail units with residential on the upper floors, the property, which is adjacent to the Tesco Extra store, has been given a guide price of £800,000.

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Being sold on behalf of a major fund manager, the investment totals 6,147 sq ft of commercial space and is let to a number of retailers such as Staniforths, Age UK and independent lease holders.

The first and second floors are let to The Guinness Partnership, one of the largest providers of affordable housing and care in England, on a peppercorn rent for another 172 years.

In total, the properties bring in some £99,500 per annum.

The auction comes a few months after the nearby prominent commercial building at 1-22 Effingham Square failed to sell with auctioneers, Savills. Totalling 20,160 sq ft of lettable space, the property was given a guide price of £1.85m. It remains available for sale.

Following the opening of the £40m Tesco development, Effingham Square was given a modest revamp with a redesign of the taxi rank and new public realm works to the pedestrianised area.

The new town centre masterplan considers that there "is still significant improvement which can be made" in Effingham Square which is described as "a very poor space and a wasted opportunity."

The masterplan puts forward that Rotherham Council should lead on a project for Effingham Square so that it will become an "attractive densely planted green oasis in the heart of town," complementing the green space at Minster Gardens.

Acuitus website

Images: Acuitus

5 comments:

Anonymous,  May 21, 2018 at 12:32 PM  

Think.green.spaces is all that RMBCcan come up with,meanwhile all other town get large developments,is there goal to.turn.centre into.a park,meanwhile concreting over countryside at Basingthorpe ?

Anonymous,  May 21, 2018 at 6:23 PM  

Yes your right what a bunch of losers

Anonymous,  May 22, 2018 at 8:27 AM  

All Rotherham town centre will be up for sale soon. In the last 2 years I've lived in the centre it's saddening how much it's declined. The powers that be don't care a bit. Fed up of politicians and councillors saying lies while living comfortably in their own bubble. They are all a waste of time.

Khatt Lambert May 24, 2018 at 9:30 AM  

There isn't anything worthwhile going into the town centre for these days...it's full of beggars, homeless and eastern europeans/ethnics...disgusting...no decent shops to browse in...the only clothing store now is Bon Marche, how long before it too disappears???

Tom,  June 15, 2018 at 8:54 AM  

The property sold from the guide price of £800,000.

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