MONMOUTHSHIRE - HISTORIC PUB IN MARKET TOWN CENTRE
Abergavenny, Monmouthshire
Ref: 46001
Leasehold
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Key Features
Location
The Monmouthshire market town of Abergavenny has a population of 12,500 and stands at the confluence of the renowned River Usk and the lesser known River Fenni. It is self-titled as the ‘Gateway to Wales’ being approximately 6 miles from the English border with Herefordshire. As well as being set in the rich agricultural countryside of the Usk Valley, it stands in the lea of the Black Mountains, with the Brecon Beacons beyond.
Over recent years the town has become well known as a ‘gastro’ centre famed for its food festival, as well as being the location of many noted Hotels and Restaurants. At the very heart of this bustling and medieval market town is the subject property, the Greyhound Vaults. It is an historic building being an end of terrace property of stone construction, which surprisingly is not listed. The property is being offered for sale after 36 years in the same owners hands due to ill health and a desire to retire. Whilst inevitably the business needs some rebranding with regard to its place for local custom, it currently trades extremely well on limited hours, principally only being the lunchtime/afternoon trade. With the excellent catering facilities it could be developed into a major dining venue. Alternatively, its innate character and external trading areas would appeal to those looking to turn the property into a more traditional hostelry, possibly specialising in real ale. Although this would necessitate the removal of the disproportionately large catering service facilities at ground floor.
The property is briefly described as follows:-
Over recent years the town has become well known as a ‘gastro’ centre famed for its food festival, as well as being the location of many noted Hotels and Restaurants. At the very heart of this bustling and medieval market town is the subject property, the Greyhound Vaults. It is an historic building being an end of terrace property of stone construction, which surprisingly is not listed. The property is being offered for sale after 36 years in the same owners hands due to ill health and a desire to retire. Whilst inevitably the business needs some rebranding with regard to its place for local custom, it currently trades extremely well on limited hours, principally only being the lunchtime/afternoon trade. With the excellent catering facilities it could be developed into a major dining venue. Alternatively, its innate character and external trading areas would appeal to those looking to turn the property into a more traditional hostelry, possibly specialising in real ale. Although this would necessitate the removal of the disproportionately large catering service facilities at ground floor.
The property is briefly described as follows:-
Property
TRADE AREAS
MAIN BAR/RESTAURANT in two sections with carpeted floor, beamed walls and open fireplace. There are contemporary style dining chairs and tables for up to 45 customers. BAR SERVERY with tongue and grooved panel frontage. LARGE CATERING KITCHEN with altro non-slip flooring, comprehensive selection of stainless steel catering effects and work surfaces. A set of LADIES AND GENTLEMEN’S TOILETS.
BASEMENT
LARGE TWO SECTION BEER CELLAR with delivery access from the side of the premises.
EXTERNAL
The external area is a feature of the pub, especially given its central location. There is an exceptional enclosed STONE WALLED TERRACED GARDEN to the rear with mature shrubs. It is one of the best external trading areas in the town.
The business is also permitted PAVEMENT SEATING to the front of the property.
MAIN BAR/RESTAURANT in two sections with carpeted floor, beamed walls and open fireplace. There are contemporary style dining chairs and tables for up to 45 customers. BAR SERVERY with tongue and grooved panel frontage. LARGE CATERING KITCHEN with altro non-slip flooring, comprehensive selection of stainless steel catering effects and work surfaces. A set of LADIES AND GENTLEMEN’S TOILETS.
BASEMENT
LARGE TWO SECTION BEER CELLAR with delivery access from the side of the premises.
EXTERNAL
The external area is a feature of the pub, especially given its central location. There is an exceptional enclosed STONE WALLED TERRACED GARDEN to the rear with mature shrubs. It is one of the best external trading areas in the town.
The business is also permitted PAVEMENT SEATING to the front of the property.
The Business
As previously referred to our client has owned the property for 36 years being one of the best known and popular licensees within the town.
However over recent years, in part due to a desire to retire and ill health, the trading hours of the business have been reduced with the business only opening four days a week, Tuesday to Friday and trading between 12 noon and 2.00 pm, principally for diners.
Nevertheless despite these restricted trading hours takings are still averaging approximately £2,500 per week including VAT.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
However over recent years, in part due to a desire to retire and ill health, the trading hours of the business have been reduced with the business only opening four days a week, Tuesday to Friday and trading between 12 noon and 2.00 pm, principally for diners.
Nevertheless despite these restricted trading hours takings are still averaging approximately £2,500 per week including VAT.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
Tenure
LEASEHOLD £15,000 to include fixtures & fittings and goodwill
TERM: 6 years
LANDLORD & TENANT ACT 1954: Inside Part II Landlord & Tenant Act 1954
ASSIGNABILITY: Fully assignable subject to Landlord’s consent
DEPOSIT: The successful applicant will be required to lodge with the freeholder a deposit equivalent to three month’s rent in advance
RENT: £18,000 per annum, paid monthly in advance
RENT REVIEW: Subject to rent reviews every third year of the term
REPAIR LIABILITY: This is not a full repairing and insuring lease with the freeholder retaining responsibility for the structure of the building. The lessee will be responsible for internal maintenance, repair and decoration as well as the decorative condition of the exterior of the property
TIE: Free of all trade ties
INSURANCE: The Landlord will insure the building, the cost of which will be charged to the Tenant by way of an Insurance Rent
VAT: Please note that VAT will not be payable on the Premium and rental payments
NB: Applications for the ground floor premises and garden in isolation will be considered.
TERM: 6 years
LANDLORD & TENANT ACT 1954: Inside Part II Landlord & Tenant Act 1954
ASSIGNABILITY: Fully assignable subject to Landlord’s consent
DEPOSIT: The successful applicant will be required to lodge with the freeholder a deposit equivalent to three month’s rent in advance
RENT: £18,000 per annum, paid monthly in advance
RENT REVIEW: Subject to rent reviews every third year of the term
REPAIR LIABILITY: This is not a full repairing and insuring lease with the freeholder retaining responsibility for the structure of the building. The lessee will be responsible for internal maintenance, repair and decoration as well as the decorative condition of the exterior of the property
TIE: Free of all trade ties
INSURANCE: The Landlord will insure the building, the cost of which will be charged to the Tenant by way of an Insurance Rent
VAT: Please note that VAT will not be payable on the Premium and rental payments
NB: Applications for the ground floor premises and garden in isolation will be considered.
Licence
A Premises Licence is held permitting the sale of alcohol between the hours of 10:00 until 23:00 Monday to Saturday and between the hours of 12 noon until 22:30 Sunday.
Services
All mains services are connected. There is gas fired central heating to the first floor accommodation.
Local Authority: Monmouthshire County Council, County Hall, The Rhadyr, Usk, NP15 1GA
Telephone: 01633 644644
Rateable Value: £5,400
Local Authority: Monmouthshire County Council, County Hall, The Rhadyr, Usk, NP15 1GA
Telephone: 01633 644644
Rateable Value: £5,400
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Robin Mence
Wales
