Repossessed Sheffield office block sold

Crown House
Crown House
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Crown House - an £8m Sheffield office block that has never been occupied - has been sold.

The seven-storey building opposite the Crown Court at West Bar was up for sale for just £2m after it was repossessed by Clydesdale Bank.

The Manzoor family who owned it finally defaulted after paying the mortgage for four years despite having no rental income.

Now ‘Sold’ signs have appeared on the building.

The deadline for offers was October 20.

A property specialist, who asked not to be named, said then: “It’ll probably be bought by a developer and turned into flats of some sort.

“The business district has moved away from this area and Crown House was hampered by having an S3 postcode, most blue chip companies only want S1, for the prestige.

“In the end several negatives counted against it.”

The building has never been finished to avoid empty buildings rates. An electrical fault has led to several large windows being open for months.

In 2010 Zulfi Manzoor, said: “No one knew the crisis was going to be so bad and by then it was too late.

“A year earlier, maybe we could have found a tenant. A year later and we might have shelved the plans. As it is, it is the worst commercial decision we have ever made.”