A SHEFFIELD bar and restaurant which closed suddenly earlier this year is going under the hammer with no reserve – but on condition the new owner pays off £35,000 in ground rent which is owed to the city council.
The Dam House in Crookes Valley Park, Crookesmoor, has gone through a variety of owners over the last few years but closed last year despite outstanding bookings for weddings and other events.
Adrian Little, of Mark Jenkinson Auctioneers, which is holding the auction, said the property had been put up by Leeds-based accountancy firm GVA, which is acting as the receiver for the previous owner.
Mr Little said: “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 building is in a fantastic location although it struggles with parking.” Mr Little said 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,” he said.
Among the building’s owners in recent years is former Sheffield Wednesday and England star Carlton Palmer.
Alex Sweetman, associate at GVA, said: “This is a unique and rare opportunity to acquire a well-known licensed restaurant with vacant possession in an impressive location within walking distance of Sheffield city centre.”
n The auction takes place on Tuesday, November 1, at the Platinum Suite, Bramall Lane, Sheffield, from 2pm.