Showing posts with label Allsops. Show all posts
Showing posts with label Allsops. Show all posts

Wednesday, September 11, 2024

News: Historic Rotherham building sold

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A historic building on Rotherham's heritage High Street has sold at auction.

Cathedral Court, 22-30 (even) High Street in Rotherham town centre extends over three floors.

The building was one of many that were renovated with retail space below and new housing above when the area was a key part of the £5m Townscape Heritage Initiative (THI) scheme which was supported by funding from the Heritage Lottery Fund (HLF) and Rotherham Council.

Remembered by many as the former Muntus department store, the ground floor was also previously used as SNAFU rock bar. It is currently home to Rotherham Visitor Centre and the Maker's Emporium which offers low cost retail space for talented artists, crafters and makers to sell their products and raise awareness of their brands. Space for a stand alone "pop up shop" was also created.

Listed as an investment opportunity with Allsop auctioneers, the property, which includes 18 flats, sold for £660,000.

It is not a listed building but is within the Rotherham town centre conservation area.

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Particulars show that the ground floor and basement are subject to a long lease for a term of 999 years from 17th December 2020 at a peppercorn rent.

In 2012 the freehold of the bar was sold by leading business agents Christie & Co. based on a guide price of £275,000. In a separate deal, the first, second and third floors of the historic building went to auction in the same year with local auctioneers Mark Jenkinson giving it a guide price of £120,000.

Rothbiz reported in 2020 that the Maker's Emporium, initially funded by the High Street Renewal Award and delivered in partnership between Rotherham Council and The Source Skills Academy, was under review.

Other buildings listed as being for sale in Rotherham town centre include the Old Town Hall, which has a guide price of £1.5m, the Bridge Inn pub at £295,000 for the freehold and the vacant 2-4 High Street, which is available for £125,000.

Images: Allsop

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Thursday, July 4, 2024

News: Controversial Rotherham housing site put up for sale

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A greenbelt site in Rotherham that was previously used for local sports, has been put up for sale.

Developers had wanted to build houses on The Pitches.

Newett Homes proposed a high-quality residential development comprising 124 dwellings on the land close to The Stag. Revised down to 116 dwellings, the council's planning board voted to refuse the plans in 2021 - going against a recommendation by its officers.

Following a subsequent appeal, a planning inspector ruled that the site provides a "visual amenity role for the local community and area" and houses should not be built there.

The site was added to Rotherham Council's register of Assets of Community Value in 2023.

Agents, Allsop, are now listing the freehold site as being for sale as an investment opportunity.

The 9.85 acre plot is listed as being by order of Fixed Charge Receivers, often used when a borrower, or mortgagor, has breached the terms of their mortgage.

Despite the previous residential plans being turned down, the property is being advertised as having the "potential for residential development (Subject to Planning)" adding that there is a "significant identified need for housing within Rotherham, with the site offering an opportunity to potentially deliver much needed dwellings for the region."

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Offers are being invited for the property, which last sold for £300,000 in 2017.

The previous planning application was being recommended for approval, so long as developers provided over £1m as part of a legal deal.

The Pitches has previously been used for football, cricket, hockey, tennis and bowls but it has been vacant for over five years. Objectors to the housing scheme accused the applicant of deliberately preventing the use of the site for sporting purposes.

Ruling on the appeal, planning inspector, Andrew McCormack, concluded that: "The potential and desire of the local community is sufficiently evident to support the case for the site to remain as protected Green Space. The amenity benefits to the local community and its people, as I have heard and seen them, are location specific and cannot be replicated or reproduced elsewhere. As such, this overall amenity value provided through the site as I have set out is considered to be irreplaceable."

During discussions over the plans, a figure of £912,000 was accepted by Sport England, due to go towards a replacement cricket pitch and field, replacement football facilities, a new bowling facility, tennis provision and to enable the Council to commission a new Playing Pitch Strategy. The inquiry showed that the total sum offered in the final Section 106 document was less than what it would cost to reinstate The Pitches site.

Concern and doubt was raised about the deliverability, nature and location of the sports mitigation package.

Allsop website

Images: Allsop

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Friday, October 14, 2022

News: Residential plans for commercial building in Rotherham town centre

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A prominent block of offices in Rotherham town centre could be converted into flats if recently submitted plans are approved.

1-22 Effingham Square went under the hammer back in 2019 and was sold for £1,550,000 by auctioneers, Allsop.

With offices on the first and second floors and with retail units underneath, the parade is located alongside Rotherham Interchange and its shopping centre and is opposite to the Tesco Extra store. Totalling some 20,160 sq ft of lettable space, the property includes an unbroken parade of ten shops.

Now a planning application has been lodged with Rotherham Council that shows that the future for the building is for residential use on the upper floors.

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The plans, from Coventry-based Futurewise Property Developments Ltd, relates to external alterations at first and second floor levels.

Proposals include replacing the existing windows with new glazing and frames and introducing new balconies to the rear of the building facing Water Street and the bus station.

Plans, drawn up by John Box Associates, show 11 flats - one on the first floor and ten on the second floor.

The retail units on the ground floor, and the majority of the space on the first floor, would not be changed under the proposals.

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 town centre masterplan, which confirmed the need for more housing in the town centre to , 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.

Transforming grey to green, "proposals for Effingham Square will provide a new setting for the Interchange, greening the current expanse of hard space, providing seating and screening through further tree cover. The delineation of space between the taxi ranks and the public space will also help break the expanse of grey space."

Images: Allsop / John Box / Futurewise

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Friday, October 30, 2020

News: Auction date for Rotherham retail parade

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A Grade II listed retail parade built on the site of the College of Jesus in Rotherham town centre is heading for auction again.

2-6 Effingham Street is described as an investment opportunity and is set to go under the hammer next with auctioneers Allsop, with a guide price of £600,000 - £650,000.

The same property was up for sale with JLL in 2017 with a guide price of £1.1m and failed to sell at auction in 2019 from a guide price of £850,000.

The opportunity includes the freehold of four well configured retail units with separately accessed office accommodation above.

The 8,000 sq ft of retail space is let by national retailers Greggs, Harvey & Thompson and The Cash Shop. Timpsons has recently taken the decison to excercise a break clause and close down.

The upper floors are currently vacant and are being advertised with the potential of conversion into residential units, subject to planning.

The sales brochure shows that the property brings in £92,950 per annum.


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The property was constructed in the 1930's and provides a retail parade comprising of four retail units at ground floor, ancillary accommodation on the first floor and office accommodation on the second floor. The property is Grade II listed, and is within the Rotherham Town Centre conservation area.

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.

Allsops website

Images: Acuitus

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Monday, January 14, 2019

News: Rotherham town centre commercial building back up for auction

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A prominent commercial building in Rotherham town centre is going back under the hammer next month after failing to sell last year.

1-22 Effingham Square is the large block of offices with retail units underneath that is located alongside Rotherham Interchange and its shopping centre and opposite to the Tesco Extra store.

The property is set to offered to buyers by leading auctioneers, Allsop in its London auction scheduled to take place at The Berkeley on February 5.

Totalling some 20,160 sq ft of lettable space, the property includes an unbroken parade of ten shops with office space above.

Tenants include Wallace Arnold, Cash Converters, Tasty Bite, two dental practices and the Laser Credit Union. Upper floors have the South Yorkshire Passenger Transport Authority as tenants.

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Bringing in a total current rent of £178,000 per annum, the property has been given a guide price of £1.6m - £1.7m.

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."

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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.

Transforming grey to green, "proposals for Effingham Square will provide a new setting for the Interchange, greening the current expanse of hard space, providing seating and screening through further tree cover. The delineation of space between the taxi ranks and the public space will also help break the expanse of grey space."

Rotherham Interchange itself is undergoing a £12.5m revamp and is due to open in Spring 2019.

Allsop website

Images: Allsop

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Monday, June 26, 2017

News: Town centre properties up for auction

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Over half a million pounds worth of commercial property in Rotherham town centre is heading to auction next month.

The largest is a freehold shop investment at 31 College Street that is set to go under the hammer with national auctioneers, Allsop, and has been given a guide price of £300,000+.

The 3,789 sq ft property is currently let to Greenwoods Menswear. The Bradford-based retailer returned to Rotherham in 2011 when the Council supported the move with a capital fit-out grant for the works to the vacant unit that was previously a Music Zone outlet.

Arranged on ground and two upper floors, the property provides a ground floor shop unit with staff ancillary and storage accommodation on the first and second floors above.

Lot details show that the entire property is at present let to Greenwoods Menswear Limited for a term of ten years from 1st December 2011 at a current rent of £30,000 per annum. The lease provides for a rent review on the fifth year of the term and contains full repairing and insuring covenants. The 2017 break clause was not exercised.

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13-15 All Saints Square is also heading for a sale at the same auction in London on July 10. The two well located retail units are currently vacant and the freehold of the 1,969 sq ft property has been given a guide price of £125,000 - £150,000.

Leading local auctioneer, Mark Jenkinson and Son, is bringing two Rotherham town centre properties to its auction in Sheffield on July 11.

On Wellgate, the offices of the Rotherham Advertiser at 67-69 Wellgate has been given the guide price of £80,000 - £90,000. The tenants pay £12,000 per annum for the 1,500 sq ft property but notice has been served by the receivers requiring vacant possession by August 26 2017.

The adjacent property at 63-65 Wellgate has been given a guide price of £80,000 - £90,000. Currently home to letting agents, Bricknells Rentals, the freehold of the 968 sq ft property has been put up for due to relocation. The agents has an office in the Imperial Buildings across Rotherham town centre.

Allsop website
Mark Jenkinson and Son website

Images: Allsop


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Thursday, June 23, 2016

News: Rotherham town centre properties under the hammer

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Investors are continuing to back Rotherham town centre with a number of recent deals for commercial property.

The majority of the converted Old Town Hall has been snapped up by an investor having first failed to sell at a recent auction. Converted in the 1980's into an attractive shopping arcade, the Grade II listed building is home to the likes of Games Workshop, the Crafty Tea Parlour and John Norris Greengrocers.

The freehold was sold for an undisclosed sum after the May auction organised by Allsops in London. It includes 21 units, five of which are double units, totalling 20,700 sq ft.

Formerly the Town Hall including the County Juvenile Court and Assembly Rooms, much of the building dates from 1896-97. Designed by Mr Lovell of London it features Classical and Jacobean details. The Assembly Room building (not part of the sale), was built as Rotherham and Masborough Literary Mechanics Institute in 1853 and was extensively refronted when incorporated into the Town Hall complex.

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At the same auction, 21, 23 and 25 Effingham Street in Rotherham town centre was sold for an impressive £720,000. The freehold was being sold by CBRE Ltd acting as Joint Fixed Charge Receivers.

With one unit vacant, most of the near 10,000 sq ft property is occupied by Perfect Home which has a lease until 2021. Rents of £70,000 pa means that the sale represents a gross initial yield of 9.72%.

The Rotherham lots were part of 205 commercial lots offered to the market, and with a success rate of 81%, over £113m was raised.

Duncan Moir, partner and auctioneer, said: "Interest is growing from a wide range of investors, both experienced and new to the market, who were clearly attracted by the returns available in the sector. Referendum inertia seems to be having little effect on investors, and their enthusiasm ensured a number of bidding battles took place, particularly over mixed-use buildings in the South East. We were delighted to secure many significant results for our clients."

At Allsops' July auction, Unit 1, 13 All Saints Square and Unit 2, 15 All Saints Square in Rotherham town centre are set to go under the hammer with a guide price of £350,000 - £375,000. In a prime location, the former Cooplands and Co-op Travel units have rents set at £46,000 pa over 2,000 sq ft of space.
Also set be sold at the same auction is the former public house on Domine Lane, also in the town centre. Empty for a number of years, the 8,000 sq ft property was previously The Exchange and formerly Yates Wine Lodge. It has been given a guide price of £80,000+.

The property forms part of the Westgate Chambers site, the majority of which has been under offer for over a year after Rotherham Council agreed to dispose of its asset. It is hoped that it will be redeveloped into a residential development with an active commercial ground floor.

Allsops website

Images: Allsops

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