Wed, 18 Sep 2013 | COMMERCIAL PROPERTY
An iconic commercial property, Hallam Tower in Sheffield, has been put up for sale after sitting for years as a derelict site.
Built in the 1960s, the landmark building was one of the region's first luxury hotels and boasts twelve storeys and an impressive view across the valley to Ecclesall. While architectural tastes have changed, the property's location is still highly sought after and Hallam sits among some of Sheffield's finest residential period houses.
Full residential planning rights have been granted to the property and it is expected to attract a large amount of interest from developers.
Tearle Phelan, head of department for Yorkshire residential development with Knight Frank, commented on the sale, which Knight Frank are managing: "The 2007 collapse of the residential market brought sales of land with residential development potential to a standstill across the UK, forcing many residential development schemes to be mothballed.
"This property's release to the open market coincides with a significant improvement to the residential sector, and wider UK economy as a whole. Very few sites of this quality come to market in Sheffield, and following the recent national advertising campaign, it has already generated strong levels of interest."
Hallam Tower was built in the post-war period and was a luxury hotel for much of its time. It was given numerous refurbishments and facelifts but finally closed in 2004.
Deputy Prime Minister Nick Clegg in his role as Liberal Democrat MP for Sheffield, Hallam, has been part of the campaign against the building, claiming it is an eyesore, while the dilapidated state of the property has attracted unwanted anti-social behaviour to the area.
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