Tue, 22 Nov 2011 | BUSINESS SALE
One of Plymouth's best known nightspots will be sold at auction next month following its failure to sell after it was recovered from its former owner.
The three-storey Cooperage pub and music venue in Bretonside was rescued from its former owner, Manoucehr Bahmanzadeh, the jailed night club boss.
It was put onto the market 18 months ago with a guide price of around £400,000, but failed to sell, so is now to go to auction, as ordered by the receivers, at a knock-down price of £295,000-plus.
The auction price is a mere third of what Bahmanzadeh paid for the Tudor-fronted venue six years ago. The Cooperage was once famous as a live music venue, hosting acts including the Damned, Desmond Dekker, Muse and Sham 69.
Its last music event was staged there in 2005, the same year it was sold to Bahmanzadeh for around £900,000 by previous owner Mike Antonucci.
Currently, it comprises a large nightclub, bar and kitchen spread over the lower two floors and one flat located on the second floor.
The venue will be auctioned at 11am on Thursday, 15 December at The Legacy Plymouth International Hotel in Marsh Mills.
Graham Barton, auctioneer, told This is Plymouth, “There may well be keen interest not only because of the most recent use but because of the property's prime location and residential conversion potential, being so handy for Sutton Harbour, The Barbican and the city centre.”
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