Sheffield Council loses last-minute bid for Fargate site next to Event Central

Sheffield Council lost a last–minute bid for the building next to Event Central on Fargate.
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The plan was to use the building as part of city centre regeneration plans but the council was out-bid.

The council did not confirm which building it was but officers said the auction date was May 17 and it was next door to Event Central. The property 28 Fargate – which auctioneers said is let to Lush until September 2028 – matches this description by officers.

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It was sold for £501,000 that day according to Allsop property consultancy, just £1,000 higher than what the council budgeted for.

Sheffield Council lost a last–minute bid for the building next to Event Central on Fargate.Sheffield Council lost a last–minute bid for the building next to Event Central on Fargate.
Sheffield Council lost a last–minute bid for the building next to Event Central on Fargate.

Officers presented a report on the auction at a finance committee meeting this week, saying the decision to go for the site was made by officers under urgency provisions.

Tammy Whitaker, head of regeneration and property, said: “We found out about this auction a week before it came to auction and because of the timing of the election it wasn’t possible to organise an emergency sub committee (for councillors to decide).”

In a report officers said their estimated maximum bid was £500,000 and if successful, the total estimated cost would have been £532,000 including legal and professional fees (£15,000) and auction costs (£2,500).

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Officers said winning the bid would have increased the authority’s ownership in the area and boosted plans for regenerating the city centre.

Tammy Whitaker, head of regeneration and propertyTammy Whitaker, head of regeneration and property
Tammy Whitaker, head of regeneration and property

Event Central

The six-storey site at 20-26 Fargate, formerly Clintons card shop, is being revamped and turned into a live music venue with a cafe, co-working offices, workshops and exhibition space using £15.8 million allocated to the city by the government’s Future High Streets fund.

It is expected to attract more than 11,000 visitors a year when open.

There was concern about the pace of the project – which has a government deadline of 2024 – as the council battles with soaring inflation.