Tuesday, May 7, 2019

News: Auction date for historic Rotherham 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 is set to go under the hammer later this month.

2-6 Effingham Street is described as an investment opportunity which brings in around £110,500 in rent each year.

The site 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 property is on the list with leading auctioneer, Acuitus for its next auction in London on May 23. It has been given a guide price of £850,000.

In 2017, the same property was put on the open market with a guide price of £1.1m.

Richard Auterac, auctioneer at Acuitus, said: "At our April auction, 40% of the lots sold achieved more than £1m which demonstrated the appetite that buyers have for assets of this scale. We expect there to be similar demand in the room at our May sale."

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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.

Acuitus website

Images: Acuitus

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