Published on Tue May 31 06:46:59 BST 2011
A HISTORIC building in a Sheffield suburb has been sold at auction for £26,000 more than the guide price.
Grade II-listed Park Lodge, at Abbeydale, which dates from the 1890s, was sold for £376,000, compared with a £350,000 guide price, at a sale at Sheffield Park Hotel, Chesterfield Road South, Meadowhead.
The building was formerly Abbeydale’s local police station but in recent years it has become more renowned for fine-dining experiences, after being taken over by Italian restaurant Marco@Milanos.
Some of the original police cells and period features have been restored during its history and are incorporated into the building adding an unusual twist for diners.
Despite the sale, the restaurant business will remain at Park Lodge until at least 2023 after a new tenancy agreement was signed recently.
Lucy Crapper, property auctioneer at Blundells Auction House, said: “The auction room was full of active, spirited bidders and many of the lots, including Park Lodge, achieved great prices.
“Park Lodge exceeded our vendor’s expectations due to its interesting history and the substantial investment that has been made into its upkeep.”
In total, almost £1.3 million worth of property was sold at the auction with 74 per cent of the 21 lots selling successfully.
Lucy also said: “All the properties were very different in terms of the work that needed doing to them, but they all had scope and potential. They were an attractive proposition to investors looking to renovate and re-sell or let.”
One disappointment for the auction house was when a prime lot of land at Norton, Sheffield, failed to sell. Two church halls currently stand on the 0.64 acre site at Norton Lane, but full planning permission for 13 new homes has already been granted by Sheffield Council.
Lucy said: “Land is very popular but I think banks are reluctant to lend money to purchase land and this is therefore having a knock-on effect. The interest is still there and the land at Norton will be a great opportunity for someone in the future.”