A landmark Sheffield casino has sold to local developers who are gambling on turning it into a gym and restaurant.
Napoleons Casino on Ecclesall Road, Banner Cross, was snapped up on an unconditional basis in an “opportunist buy,” according to commercial agent Martin Crosthwaite.
It is understood it went for less than the £850,000 asking price.
The two Sheffield buyers have exchanged on the property - and ‘sold’ signs have gone up on the premises - with the deal set to complete on January 1.
But they were trying to decide what to do with it, Mr Crosthwaite said, although it would not be a casino again.
He said: “The buyers could split it horizontally into a gym on the lower ground and a bar and restaurant on the ground and mezzanine level.
“They plan short term to let it as it is. Long term it could be dropped and redeveloped as residential, although high rise is inappropriate there.
“The new Sainsbury’s local further up has two floors of residential above.
“Along with plans for the Gilders site, it shows people have confidence in Banner Cross.”
Napoleons closed in January after 42 years. At the time boss Dave Allen, chairman of The A&S Leisure Group, said business had suffered because Ecclesall Road ‘was not what it used to be’. He also claimed the closure of the Baldwins Omega banqueting suite – a source of late night customers – had been a factor in the decision.
The casino went on the market in February and a potential buyer quickly came forward. But the deal fell through when all contact broke off.
Meanwhile the Gilders former car showroom on Ecclesall Road South was being marketed by Primesite and there are now plans for an accountants, gym and cafe to move in, with another unit under offer.
A&S Leisure Group has submitted plans for a £5m 500-seat purpose-built banqueting suite at its Owlerton casino.