News: Rotherham retail parade back up for sale
A Grade II listed retail parade built on the site of the College of Jesus in Rotherham town centre is up for sale.
Having previously been withdrawn when it went to auction in 2019, the prominent property has now come on to the market with agents and auction specialists, Bond Wolfe.
The property at 2-8 Effingham Street in Rotherham, which includes a vacant second floor that could be converted to residential use, subject to planning, is available for offers based on £895,000.
Current rents total £85,200 a year so the purchase would represent a yield of more than 9%, based on the offer price.
James Mattin, Managing Director of Bond Wolfe, said: "This prominent retail parade is within a conservation area on the corner of the pedestrianised Effingham Street, close to All Saints Square, part of Rotherham’s prime retailing area.
“The property includes four ground floor retail units which have extra space on the first floor, with established tenants including a Greggs bakery and Timpson shoe repairs.
“Other tenants include Harvey & Thompson Harvey Pawnbrokers, one of the oldest and leading pawnbrokers in the UK, and Cash Shop Ltd, established by the founder of the UK’s original cheque cashing company.
“There is then self-contained office accommodation on the second floor accessed via a dedicated entrance on Effingham Street, and this could potentially be converted into residential use, subject to planning consent.”
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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.
Bond Wolfe website
Images: Bond Wolfe
Having previously been withdrawn when it went to auction in 2019, the prominent property has now come on to the market with agents and auction specialists, Bond Wolfe.
The property at 2-8 Effingham Street in Rotherham, which includes a vacant second floor that could be converted to residential use, subject to planning, is available for offers based on £895,000.
Current rents total £85,200 a year so the purchase would represent a yield of more than 9%, based on the offer price.
James Mattin, Managing Director of Bond Wolfe, said: "This prominent retail parade is within a conservation area on the corner of the pedestrianised Effingham Street, close to All Saints Square, part of Rotherham’s prime retailing area.
“The property includes four ground floor retail units which have extra space on the first floor, with established tenants including a Greggs bakery and Timpson shoe repairs.
“Other tenants include Harvey & Thompson Harvey Pawnbrokers, one of the oldest and leading pawnbrokers in the UK, and Cash Shop Ltd, established by the founder of the UK’s original cheque cashing company.
“There is then self-contained office accommodation on the second floor accessed via a dedicated entrance on Effingham Street, and this could potentially be converted into residential use, subject to planning consent.”
Advertisement
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.
Bond Wolfe website
Images: Bond Wolfe
4 comments:
A snip for anyone worth close to a million to invest
Would be worth far far more in virtually every other town/city even locally,just shows how far Rotherham is behind.
It'll be the undesirables
Rotherham is on the up. Start spreading the news!
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