A Grade II-listed pub dating from 1752 and gutted by the 2007 flood has sold at auction for £250,000 – two and a half times its guide price – in a strong first auction of the year for Mark Jenkinson and Son.
The historic Farfield Inn survived the Great Flood of 1854 but was gutted by the city’s flood more than a decade ago and has been disused ever since.
As a result the coaching inn premises on Neepsend Lane is a very poor state of repair with complete restoration required. But despite the guide price of £95,000 the landmark building sold for £250,000 at the Mark Jenkinson and Son auction which saw total sales of £2.21million.
Adrian Little, Head of the Auction Department at Mark Jenkinson and Son, said: “Beginning the year selling 18 of the 19 lots at auction for £2.21m is a very strong start and this landmark pub going for two and half times its guide price had a lot to do with that.
“We already have interest in the single unsold lot and are hopeful of another 100% sale as we achieved in January last year.
“Other highlights from the auction included an outstanding five-bedroom detached house on Westbourne Road. Within walking distance of the Botanical Gardens, it attracted over 100 viewings in the run-up to the auction.
“It was listed at £450,000 but on the day sold for £700,000 proving the market is there for prime properties.”
Other residential properties going under the hammer at the auction, held at The Platinum Suite, Sheffield United Football Club, included a three-bedroom inner terrace in Tinsley with a guide price of £30,000–£35,000 which sold for £53,000.
A traditional bay windowed semi-detached house in a popular residential area of Meersbrook listed at £120,000 also went for £148,000.
In the same week as the strong auction, Mark Jenkinson and Son also recorded the second best auctioneer results in Yorkshire and the Humber for 2017, in a report published by Essential Information (EI) Group.
The research by EI Group, which analyses UK-wide auction data and is recognised as the industry standard, found Mark Jenkinson and Son sold 88.3% of lots between January and December last year – with sales of £27,108,250.
The next auction will take place on February 27 with lots including properties from three of the region’s local councils. The Mark Jenkinson and Son catalogue includes a police station, dentists, community centre, grazing land, offices, and unmodernised houses.
Mark Jenkinson and Son was established in 1877 and is the largest independent firm of Chartered Surveyors in South Yorkshire.