A former nightclub is going up for auction with a starting price of only £100,000.
The Old Wine Vaults on East Street in Ilkeston had previously been the centre of much controversy back in 2004 when the residents were complaining about the noise from late-night revellers and hoped that the council would not renew the licence, however it did although with conditions to try and keep the noise down.
It has stood empty since its former manager when it was know as Captain Gregory’s Vaults, had the licence removed following issues such as under-age drinking and allegations of drug use in the late 2000s.
Andrew Parker, auctioneer and managing director, commented: “The Old Wine Vaults in Ilkeston is an excellent investment lot ideal for bidders looking for a renovation project. It occupies a prominent corner plot position and benefits from approx. 8,000 sqft floor area with additional cellar area.”
It is a large former public house and nightclub which requires a complete scheme of renovation but which could potentially be divided and used as a gym or offices subject to planning consent.
The 8,000 sq-ft L-shaped two-floor Georgian and Victorian building has bars, a cellar area and an enclosed courtyard.
SDL Graham Penny auction notice reads: “The property itself is in a dilapidated condition and offers excellent potential with a number of different uses.
“We feel public houses of this size and location rarely come to the market with such superb potential.”
The auction will take place on Thursday, June 9 at the iPro Stadium. For more information visit sdlgrahampenny.co.uk
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