Friday, August 31, 2012

News: SNAFU up for sale

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Popular Rotherham town centre bar and live music venue, SNAFU is up for sale.

The High Street building is currently undergoing a refit as part of the the £3m Townscape Heritage Initiative (THI) which is supported by funding from the Heritage Lottery Fund (HLF) and Rotherham Borough Council.

The project sees property owners and long term lease holders secure grants enabling them to restore, renovate and repair their historic buildings which are all within a conservation area. The aim is to encourage new shops, apartments and businesses to locate in the town centre.

Work at No's 22 – 30 High Street include restoring the missing corner turret, repairing the roof and windows and restoring the special ornate features unique to the fa├žade of the building. Remembered by many as the former Muntus department store, interior work is also taking place.

The freehold of the bar is being sold by leading business agents Christie & Co. for a guide price of £275,000 and they have been advised that it is currently generating a net turnover in the region of £350,000.

In a separate deal, the first, second and third floors of the historic building are expected to go to auction in September with local chartered surveyors, Mark Jenkinson giving it a guide price of £120,000.

The property was granted planning permission for the conversion into eighteen apartments in 2005.

Christie & Co. has also been instructed to sell the freehold of other Rotherham pubs, The Red Lion and the Turf Tavern which are currently up for sale.

Christie & Co. website

Mark Jenkinson website

Images: brchamber.co.uk

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