Getting on the property ladder can feel like near impossible, but what if you could purchase a place to call your own for just £1? And there’s no catch, other than it’s a pub you’d be buying. The iconic student pub in Manchester, The Footage, closed its doors suddenly in May this year, however the building has now gone up for sale for a bargain price. So cheap, you can only buy two Freddo chocolate bars for that price.
Originally known as The Grosvenor Picture Palace, the former cinema underwent a transformation and became The Footage, a popular student drinking hole. For over 30 years, the Grade II listed building on Oxford Road served as a bustling hub for university students and city centre locals alike.
What would you be getting for just £1?
With the cost of living crisis, you might think £1 doesn’t go very far these days, however if you were to purchase The Footage in Manchester’s that’s up for sale it could be quite the investment. The property which was built in 1912 is set over two storeys and benefits from double frontage onto Grosvenor Street and Oxford Road.
According to the description on Rightmove: “The ground floor of the building comprises of a large open trading area with access to the ground floor male and female toilets and access to the basement. To the right hand side is a further trading area which is slightly raised with space to accommodate 45 covers. To the rear is a long bar servery and a commercial kitchen, pot wash area and a storeroom.
With the building’s history, on the first floor level you’ll find some original features such as the ceiling design, as well as a further trading area along with a further bar servery and customer toilets. There is also a basement with two large beer cellars and a number of smaller storage rooms. Plus, it has a late licence that runs until 2am from Mondays to Saturdays.
Why is The Footage up for sale for just £1?
Now, you might think we’re pulling your leg with this price, especially with it being an entire building on none other than Oxford Road, one of Manchester’s most prime real estate areas. So why is it going for a quid?
It might seem a bit odd at first but it’s actually not too unheard of nowadays for properties like The Footage to often be listed for such a small amount. The reasons for such a low price tend to be in order to support local businesses and industry markets, potentially help people get on the ladder and possibly get a quick sale too! Plus, it is a great opportunity to maintain the site’s heritage to allow it carry on for years to come.
However, don’t jump the gun too soon with the for sale price of The Footage in Manchester as it is not just about buying the site but also getting the place up to standard. And do not ignore the business rates either as according to Rightmove, these are “£41,250 with effect from April 2023”.
Interested? You can check out all of the property information and estate agent contact details here.
Update: This pub has now been leased by an independent operator and is set for a £1 million transformation to become an “adult playground” known as The Grosvenor.