Rotherham Council to sell off former Lloyds bank building for “nominal value”
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The former Lloyd’s Bank on Corporation Street was purchased by RMBC in 2006 using grant funding, but it has sat empty ever since, as there is a “limited market for these types of properties”.
A cabinet report states that there is now an opportunity to develop the site, along with neighbouring vacant properties, into 16 residential properties plus commercial space.
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Hide AdRMBC hopes the scheme will form a gateway to the emerging leisure and cultural quarter on Corporation Street.
The plans are part of a £31.6m Town Deal to regenerate the town centre, Eastwood and Templeborough.
Part of this programme will contribute towards a public/private sector partnership redevelopment of properties at 30-38 Corporation Street.
The property will be disposed of to a private sector individual who owns the neighbouring properties who will lead in the delivery of the development scheme, adds the report.
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Hide AdTo facilitate the continued redevelopment of the town centre, it is proposed that the council forgoes a capital receipt, and the property is disposed of at a reduced value.
The report adds that there has been no council expenditure on the property since it was purchased, and there will be n cost to RMBC as the project is being funded through the Towns Deal scheme.
The cash will will transform derelict heritage buildings on High Street and Corporation Street, creating a gateway from the Minster Gardens across to the new Forge Island leisure development