The Psalter, a well-known Sheffield bar and hotel, has recently come to the market following the failure of the operator, Parity Bars.
Until the end of last year the building traded as the Psalter and previously the Psalter Tavern, although historically it was known as the Roslyn Court Hotel.
The building is for sale through Sheffield-based commercial property consultants Crosthwaite Commercial, which is seeking offers in excess of £1.25m.
In addition to a ground floor bar and restaurant area, the premises includes 19 ensuite bedrooms as well as a manager’s flat and a large car park.
Martin Crosthwaite of Crosthwaite Commercial said: “This is excellent opportunity for a company to secure a well-known venue in Sheffield with huge potential. The premises, particularly the upper floors, have been neglected over recent years and are in need of some refurbishment.
“Alternatively, we do have a number of parties looking at residential conversion or redevelopment as this is a popular residential suburb.
“While it is envisaged that The Psalter will continue trading for the long term, the property does have significant potential for residential conversion, having excellent views overlooking Sheffield, being located in a high class residential suburb of the city where quality housing and apartments are much sought after.
“The property is within the Nether Edge Conservation Area and in the Sheffield UDP the premises are within an area allocated for housing.