Tuesday, July 2, 2013

News: GVA takes on property portfolio


GVA, the UK's largest independent commercial property consultancy, has been appointed to market a portfolio of more than 20 assets.

On the instructions of LPA Receivers (usually appointed by banks and private lenders when the terms of the mortgage are not being met), the Yorkshire office of GVA is marketing a portfolio which includes a number of Rotherham properties.

These include The Temperance Hall on Wellgate, The Prince of Wales Feathers pub on Sheffield Road, The Crofts mixed-use site in Rotherham town centre and an industrial estate in Mexborough.

The 3,416 sq ft Temperance Hall is one of a number of the properties set to go under the hammer with Mark Jenkinson & Son Auctioneers later this month. With three units currently let at £10,621 per annum, the property has a guide price of £125,000.

Previously a Methodist chapel, it became the Temperance Hall in 1895, home to the Temperance Society who advocated a moderate approach to life and warned against excessive alcohol consumption.

James France, surveyor in GVA's valuation services team in Yorkshire, said he expected there to be plenty of interest in the portfolio.

Mr France said: "This is a high profile instruction for GVA and we are delighted to have been instructed.

"It is not often that a portfolio of this quality comes onto the market so we are expecting high levels of interest.

"Much of the portfolio is tenanted and generates healthy levels of income. The assets are being offered as single lots or as a whole."

The portfolio has a gross income of £613,384 and is being marketed without a guide price. It also incldes the freehold of iconic Sheffield live music venue, The Leadmill.

GVA website
Mark Jenkinson & Son website

Images: Mark Jenkinson & Son


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