The building housing Nottingham's oldest sex shop has been sold for £496,000 - well over the guide price. Boasting 6,985 sq ft of space over five floors, the property went under the hammer at auction.
Part of the building in Upper Parliament Street, in the heart of the city, is let to The Private Shop - which has been supplying the city with sex toys and DVDs for more than 30 years.
Manager Barry Maltby, who has worked at the store for 18 years, assured customers by saying "we are still here for the near future", as news circulated of the sale to an unknown buyer. He confirmed someone had bought the building but he did not know their name.
Read more: Nottingham's oldest sex shop: 'We are busier than when Fifty Shades came out'
"I know they were on about putting flats above and one or two shops below," he said. "We have a two or three year contract with them. They can't just throw us out.
"I think we have a long-term future with them. The council owned it originally and sold it to whoever has bought it now. They (the new buyers) have measured all the building up to actually convert to flats, but they need planning permission and that will take a while to get it through."
Barry remained defiant, revealing how the popular shop had battled through Covid and "now we are battling this". "Hopefully we will be here for the next two to three years."
Barry enjoys his work because of the people who come in. "You are solving problems and pleasing people, and hopefully they will have a nice weekend with what they have bought and it puts a smile on their face."
Nottingham City Council made the decision to sell the freehold and to pass on ownership of the property at 81-85 Upper Parliament Street. The sale was by public auction on September 18 at The Nottingham Racecourse, The Centenary Suite, and the guide price was listed as £300,000-£350,000.
The current tenancy runs from 2019 to 2025, and brings in a rent of £30,000 per year, but Auction Estates had said there was an opportunity to re-negotiate the lease and utilise vacant space. Read the original listing here.
The identity of the buyer will become public when Land Registry records are updated. A City Council spokesperson said: “We acquired these premises a number of years ago in readiness for a regeneration scheme, which unfortunately didn’t go ahead. We therefore sold the property as part of our drive to dispose of property assets we no longer need, to bring in an income to the council from the sale.”
READ NEXT:
- Murdertown: Where to watch crime documentary featuring the downfall of Colin Gunn
- Railway engineer launched 'appalling' attack on man in Warsop street
- Colin Gunn police tapes show crime boss calmly answering questions after murders
- Emilia Fox on Murdertown 4: 'Everyone still remembers murder' orchestrated by Colin Gunn
11 people face trial over murder of Michael Anton O’Connor in the Meadows
- Read more crime news
