An estate agent has confirmed the former British Legion building situated on Clifton Road has been sold.
Michael Jones Commercial said there have been ‘a variety of challenges’ but its ‘hard work and perseverance has finally paid off’.
In a statement it said the sale ‘finally completed’ to ‘local property developers’ last month.
Adding: “The new owners of the site are established clients of Michael Jones and they intend to submit a planning application to build four to five residential properties on the site creating some much needed local housing.”
It stated the decision to close the legion branch had been taken back in November 2012 ‘due to diminishing numbers of members resulting in a lack of funds to support the club’.
This saw the end of a 90 year story, with the club having originally opened in the 1920’s ‘to honour the memories of British soldiers who had fought in the First World War’.
Michael Jones Commercial said it was originally asked for advice on the sale of the property back in 2014 and valued it at £150,000.
However, after a six week marketing campaign saw a buyer found for the property, the Localism Act 2011 meant that a ‘public moratorium’ was issued to establish whether there was another feasible community use for the building.
This resulted in a six month delay before ‘it was deemed that there was no alternative public use for the site’.
Michael Jones Commerical then then re-marketed it via a competitive bidding process.
The sale in August saw it go for £240,000 ‘which generated a staggering figure of over £90,000 for the British Legion’.
Jon Justice, from Michael Jones Commercial, said: “We were delighted to act for the British Legion in the disposal of this property. To achieve nearly £100,000 over the guide price shows just how much interest there was in the site and also the shortage of similar stock available in the market place.”