Historic Sheffield spa goes BACK on the market – and this is how much it would be to run
A historic Sheffield spa and 150-year-old Turkish baths are now back on the market and available to let for £50,000 a year.
The three story brick building which houses Spa 1877 and what is believed to be the country’s oldest suite of Turkish baths, has been listed on leisure property specialist agency, Fleurets’ website.
Spa 1877 located on Victoria Street closed in September 2019, after owner Steve Wilkinson claimed controversial bus gates on the city centre’s Glossop Road had cost the businesses hundreds of thousands of pounds in lost revenue.
The historic Sheffield building was put up for sale for £695,000 last year and is now available to let for a guide price of £50,000 per annum.
Agents, Fleurets have invited prospective tenants to put in offers for this ‘unique opportunity’ to drive the 150-year-old business in a ‘number of different ways’ – such as using self employed treatment staff, wellness facilities and working with the NHS and Sheffield City Council.
The Victoria Street premises which now has 11 beauty treatment rooms, were once part of the Glossop Road Baths, but became Spa 1877 following a £1.5 million renovation.
According to the property specialists, the spa and Turkish baths business had a turnover of £632,000 net of vat for the eight months to August, 31, 2019 and £948,000 pro-rata.
The building which has hand made glazed bricks, ornate mosaic flooring, heated granite benches and a plunge pool is available to let for £50,000 per year on a new 10-year sublease, which includes internal repairing responsibilities.
A bond equivalent to six months rent is required to secure the lease, which is advertised with a one off £75,000 payment for equipment.
The historic property which has a wet treatment room, aroma steam room and ice cave is held on a 150 year long lease, from January 2008 at a rent of £500 per year.
Changing rooms are located on the ground floor, alongside a relaxation room and central staircase which leads to four beauty treatment rooms.
In the basement, there are manicure and pedicure stations, spray tan facilities and three additional treatment rooms.