The Time Piece pub in Dewsbury to go up for auction with £450,000 guide price
A pub in Dewsbury town centre is being placed under the hammer as an investment opportunity by auction house Pugh next week.
The Time Piece on Northgate is a former Wetherspoons pub. It has been given a £450,000 guide price and is let on a seven-year lease running until 2027 to Pickles Pubs, at a rent of £104,000 a year.
The 3,500 sq ft pub was sold by JW Wetherspoon in February 2020 and has been fully refurbished during lockdown, with the addition of a two-bedroom manager’s flat on the building’s second floor.
Paul Parker, associate director at Pugh, said: “The Time Piece is a popular pub and eatery in Dewsbury town centre and this is a great opportunity to invest in a sector that is seeing renaissance after the challenges of covid.
“Additionally, we understand that the pub’s two upper floors may have potential for residential development, subject to planning.”
Bidding on the Time Piece opens on September 21 and closes the following day.
Since the onset of the coronavirus pandemic Pugh has sold lots totalling over £70m at its auctions, held on the firm’s online platform.