The Dam House, a bar and restaurant located in Sheffield is being put up for auction in November. The commercial property in Sheffield, which closed earlier this year, will have no reserve at the auction; however there is a condition that will be applied to the buyer
Incorporated in the sale of the commercial property is a condition that the new buyers must pay £35,000 worth of ground rent that is in arrears. The debt is owed to Sheffield City Council, by the previous owners. Adrian Little from Mark Jenkinson Auctioneers, the hosts of the auction expressed, “There is no reserve, so it looks a good bargain but any purchaser will need to pay £35,000 in ground rent which is owed to Sheffield Council.
The commercial property, which is located in Crookes, Sheffield had previously undergone a major refurbishment and had future bookings for weddings and parties that were planned throughout the year. Therefore, the venue would require little work from a new owner, as Mr Little stated, “The building is in a fantastic location although it struggles with parking. Despite being unused for a year, the building, which has been recently restored and overlooks the park boating lake, is still in very good condition.”
“A considerable amount of investment has been made in Dam House and new owners would not have to spend very much to get it back up and running,” Mr Little added.
However the commercial property has changed hands a lot in recent years. One high profile owner of the bar and restaurant was Carlton Palmer, who previously played football for Sheffield Wednesday, and furthermore for England.
The commercial property was originally built by the Corporation Water Works and was used as a bowling club, before it was turned into a leisure commercial property in Sheffield.
The auction is due to take place on Tuesday 1 November at 2pm in the Platinum Suite, Bramall Lane, Sheffield. Commercial properties also listed at this auction include a three storey property in Worksop town centre, a corner shop in Sheffield and a commercial unit in Rotherham.
