Sheffield's Old Town Hall for sale again after developer hits financial difficulties
The restoration of one of the city’s most important buildings has suffered a huge setback after ownership passed to receivers.
The Old Town Hall on Castle Street and the former Cannon Hotel opposite, are up for sale again.
Both were being restored by developer Aestrom, headed by Efe Omu.
The Grade-II listed Old Town Hall, which has been empty since 1997, appeared to have a bright future after Mr Omu bought it in 2019.
It is understood the pandemic and lockdowns led to work being delayed.
Now Pantera Property has been appointed by LPA receivers and independent insolvency practitioners Wilson Field to sell the two buildings.
The Old Town Hall has a guide price of £1.35m.
Tom Snook, managing director of Pantera Property said: “This is a rare chance to acquire what are certainly landmark historic properties in an area of the city that is one of the north of England’s most significant regeneration opportunities.
“Both the Old Town Hall and the former Cannon Hotel are key pieces of the regeneration jigsaw in a part of Sheffield that’s rapidly becoming one of most exciting areas of town to live, work and visit. Needless to say, we have had a huge amount of interest in both properties from potential buyers and it will be brilliant to see these great buildings become assets to the city once again in the hands of imaginative new owners.”
Built in 1808, the Old Town Hall, whose iconic clock tower was added 60 years later, also housed Sheffield’s courts until 1997, since when the property has been unused.
The four-storey building has planning consent for 12 apartments, 12 hotel rooms, a roof terrace and commercial uses on the ground floor and basement.
Opposite the Old Town Hall, also on Castle Street, the four-storey former Cannon Hotel has been converted into three three-bedroom apartments with open-plan kitchens and reception rooms.
It includes two retail units on the ground floor and basement.
The news is also a blow for the up-and-coming Castlegate area which is home to tech firms, the Kommune food hall, the National Videogame Museum and the site of the former Sheffield Castle.