The Golden Ball, York’s first community-owned pub, is up for sale.
Found on Cromwell Street, the freehold has been put on the market by owners the Stonegate Group, asking for “offers in excess of £575,000”.
But the co-operative which owns the leasehold say that the sale listing is an “error”.
Savills has been asked to market 23 free-of-tie pubs across England, of which The Golden Ball is just one.
In its sales details, the estate agent says: “The property comprises the ground, basement and first floor of a two storey corner building with part exposed brick, tiled and painted rendered elevations beneath a pitched roof.”
The entire property is let to The Golden Ball Co-Operative Limited on a 20 year lease from 28 July 2023 at a current rent of £48,343 per year.
The Co-op is made of 200 York people who clubbed together to buy the leasehold and keep the pub open as a local hub.
It is also protected as an Asset of Community Value. That gives the local community six months to try to buy it before it can be sold to anyone else.
That’s why the The Golden Ball Co-Operative is objecting.
In a statement sent to YorkMix it said: “Savills recently posted a listing seeking offers for the purchase of the Golden Ball.
“Due to our status as an Asset of Community Value we believe that a procedural error has occurred and are seeking confirmation from Savills, our landlord Stonegate Group and City of York Council.
“The Golden Ball Co-operative Limited recently secured a 20-year lease on the property in order to ensure the future of the cooperative and the Asset of Community Value that we are custodians of.
“We intend to work with all parties to safeguard the future of the pub for the community and city.”
When the Co-op took over the running of the Golden Ball in 2012 it was just the 12th in the country to become a true community pub.
Since then the pub has thrived, serving a range of guest beers, many from local brewers, and hosting many community events.
Its history dates back to at least 1773.
The pub increased in size in 1883 when the old “Jail Lane” was widened to become Cromwell Road. The jail, and gallows, used to be at the bottom of the street at Baile Hill.
Stuart Stares, director in Savills licensed leisure, said of the sale of the Golden Ball and the other 22: “Pubs are proving to be a resilient and increasingly attractive asset class, driven by the sector’s strong fundamentals – long leases, index-linked rent reviews and resilient trading performance. I
“nvestor confidence is being buoyed by improving trading performance, significant reinvestment by operators and a more favourable economic outlook – including falling interest rates and steady consumer demand.
“As a result, we’re seeing renewed appetite for well-let pub assets, particularly those with long-term growth potential.”
