Firm snaps up historic Smethwick pub for £150,000
A historic pub in Smethwick has sold for £150,000 after going under the hammer –three times what it was expected to fetch.
The new owners of the historic Waterloo Hotel have now vowed to return the Grade-II listed building to its former glory.
It comes just weeks after English Heritage named the landmark pub as one of the most endangered buildings in the country.
The Edwardian pub, based on Shireland Road, Cape Hill, went under the hammer at CPBigwood's auction at Villa Park yesterday. Zafar Rashid along with two other partners in Five Rivers Investments Ltd, bought the pub which was once renowned for its beer and food.
The Perry Barr-based company plans to turn the building into a restaurant with a wine bar. They are also considering converting the upper floors into apartments.
Built as a flagship pub-hotel in 1908 for Mitchells and Butlers whose brewery was nearby, and dominating a corner site, it boasted a lavish Baroque front and ornate interior.
Zafar Rashid, said: "We want to preserve it and we are going to get professional advice on how best to do that. Our initial thoughts are that it becomes a bar and restaurant, perhaps with residential on the first and second floors."
Mr Rashid said once they get the keys to the building they hope to start work within 28 days, and reopen the venue within 12 months.
He said: "We want to return it to its best. The pub has been shut for several years, and does need work, and we hope to get started as soon as we can."
CPBigwood director Ian Tudor said: "It is something of a sad place these days – the vandals have been at work.
"For anyone who knew it in its heyday it is a great pity. Let's hope it now gets the tender loving care it needs."
