Estate agents have started to market a 1930s seaside music and dance venue for sale - but have not listed a guide price to potential buyers. Great Yarmouth Borough Council voted in March to sell the freehold of the Art Deco Ocean Room in Gorleston, after it closed in 2024. A non-invasive structural report identified defects that could cost £800,000 to remedy, but warned that the cost could double if a full invasive survey was carried out. Guy Gowing, senior partner at Arnolds Keys, said: "The building does require refurbishment and investment, but its wonderful location and rich history make this a very attractive prospect for serious players in the leisure and tourism sector." Built in 1939 as the Floral Hall, the Ocean Room is a distinctive rotunda building, and for the past 50 years has operated as a night club and function venue. It has played host to acts including Rag'n'Bone Man, Blur and Mike Tyson, and featured in the Richard Curtis and Danny Boyle Beatles-inspired film, Yesterday. The 15,000 sq ft seafront building includes a 10,000 sq ft circular main entertainment area as well as bars and kitchens, and a large south-facing terrace accessed from the promenade and beach. The venue is being marketedwith potential in leisure, healthcare or nursery use, which are permitted under the existing planning permission. But as well as expressing financial offers, interested parties will have to demonstrate they have sufficient funding in place to meet the cost of extensive repairs. Mr Gowing said he had already received expressions of interest from local and national leisure operators. He added: "This unique opportunity allows for the creation of a prominent bar, restaurant, or other leisure facility, enhancing Gorleston's appeal as a tourist destination. "The property is being sold by Great Yarmouth Borough Council, who fully support its refurbishment and redevelopment. "The landmark building offers the opportunity to create a 'key leisure venue which will add value to Gorleston's tourist offering' once it has been refurbished and redeveloped." Follow Norfolk news onBBC Sounds,Facebook,InstagramandX.
Art Deco venue up for sale with no guide price
TruthLens AI Suggested Headline:
"Great Yarmouth's Historic Ocean Room Venue Listed for Sale Without Guide Price"
Bbc News
7.9
TruthLens AI Summary
The Art Deco Ocean Room, a 1930s music and dance venue located in Gorleston, Great Yarmouth, is now on the market, with estate agents not providing a guide price for potential buyers. The decision to sell the freehold of the venue was made by the Great Yarmouth Borough Council in March, following its closure in 2024. A preliminary structural report revealed defects that could require up to £800,000 in repairs, although this figure could potentially double if a more comprehensive invasive survey is conducted. Guy Gowing, a senior partner at Arnolds Keys, acknowledged the need for refurbishment and investment but emphasized the property's attractive location and historical significance, making it a compelling opportunity for serious investors in the leisure and tourism sectors. Built in 1939 as the Floral Hall, the Ocean Room has a rich history, functioning as a nightclub and event space for over fifty years, hosting notable acts such as Rag'n'Bone Man and Blur, and even appearing in the film 'Yesterday' directed by Richard Curtis and Danny Boyle.
The Ocean Room spans 15,000 square feet, featuring a 10,000 square foot circular main entertainment area, along with bars, kitchens, and a large south-facing terrace accessible from the promenade and beach. The property is being marketed not only for its historical significance but also for its potential uses in leisure, healthcare, or nursery settings, all permissible under the current planning permissions. Interested buyers must not only submit financial offers but also prove they have adequate funding to cover the necessary repairs. Gowing noted that there has been considerable interest from both local and national leisure operators. He stated that this unique opportunity could lead to the development of a prominent bar, restaurant, or other leisure facility, which would enhance Gorleston's attractiveness as a tourist destination. The Great Yarmouth Borough Council is supportive of the refurbishment and redevelopment of this landmark building, highlighting its potential to become a key leisure venue that adds value to the local tourism offering.
TruthLens AI Analysis
The article presents a unique opportunity for potential buyers interested in a historical Art Deco venue, the Ocean Room, which is up for sale. It highlights both the building’s rich history and the need for significant investment to address structural issues. The absence of a guide price may indicate a strategic move to attract serious investors without limiting the bidding range.
Financial Implications and Community Perception
The mention of a potential £800,000 repair cost, which could double with a more invasive survey, sets a tone of caution for investors. This financial burden may deter casual buyers while simultaneously attracting serious players in the leisure and tourism sector who are willing to invest. The article aims to create a perception that the Ocean Room is a valuable asset worth considering despite its flaws. By emphasizing its location and history, the intent is likely to generate interest and competition among potential buyers.
Transparency and Potential Concerns
While the article provides insights into the building's history and potential uses, it may be downplaying the financial risks involved due to the repair costs. This could lead to a misrepresentation of the venue's attractiveness, particularly for those unfamiliar with the financial landscape of such investments. The lack of a guide price could also indicate a desire to keep the bidding open and competitive, which may not be fully disclosed to the public.
Broader Context and Economic Impact
The sale of the Ocean Room by the Great Yarmouth Borough Council reflects a trend where local governments divest from properties that may require substantial upkeep. This could resonate with other similar venues facing financial difficulties. The potential redevelopment of the Ocean Room might enhance Gorleston's appeal as a tourist destination, impacting the local economy positively if the project is executed successfully.
Target Audience and Community Support
The article seems to target investors in the leisure and tourism sectors, as well as local stakeholders who may benefit from the venue's revitalization. By showcasing the building's historical significance and potential for redevelopment, the article seeks to garner support from community members who value cultural heritage.
Market and Global Relevance
In the broader context, the sale of the Ocean Room might not have immediate implications on stock markets or global financial dynamics. However, it serves as a case study in how local economies navigate asset management, particularly for historical properties. The story aligns with trends in urban development, where the preservation of cultural sites can intersect with economic revitalization.
Use of AI in Content Creation
While the article does not overtly indicate the use of AI in its writing, certain structured elements and the concise presentation of facts suggest potential assistance in organizing the information. If AI tools were employed, they might have contributed to the clarity of the message and the emphasis on the venue's historical and commercial value.
In summary, the article's reliability hinges on its presentation of facts regarding the property while possibly underplaying the associated risks. The strategic omission of a guide price coupled with the emphasis on the venue's potential creates an optimistic, yet cautious narrative aimed at attracting serious investment interest.