Clubbers and music fans had a shock today as it was revealed The Leadmill building has been put up for sale.
Many thought the venue could suffer a fate like Embrace nightclub which recently closed down.
Fans of the legendary club can breath a sigh of relief though, as the venue will remain safe from the sale.
Leadmill Ltd, who occupy the nightclub spaces, retain the lease until at least 2023 and the venue have been keen to calm worried fans.
Tweeting this morning, The Leadmill said: “Just putting rumours to rest, @Leadmill is not us for sale - only the building. We have the lease until 2023 so we’re here for a long while!”
Just putting rumors to rest, @Leadmill is NOT for sale - only the building. We have the lease until 2023 so we're here for a long while! ✌— The Leadmill (@Leadmill) July 8, 2014
With a guide price of £570,000 the building itself, at 6 and 7 Leadmill Road, will be put up for auction on 14 July.
“The property comprises a series of substantial multi-storey former mill buildings set on a tapered site,” says the auction listing. “The majority of the buildings are of solid brick construction with a mix of pitched and flat roofs, although some elements comprise steel frame buildings with truss roofs.
“The property is let and operated as one of the North's longest standing and most popular live music venues as well as a nightclub.”
Any purchaser will end up becoming the new landlord to the 16,000 sq. ft. city venue, receiving an annual rent of £60,000, raising to £65,000 in 2018 according to auction documents.