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Restaurant for sale

Commons Road, Pembroke, Pembrokeshire, South West Wales, SA71

Guide Price* £130,000

Property Description

Key features

  • Highly desirable tourist area
  • Close proximity to Pembroke Castle
  • Well established tenants
  • Diner alone currently leased at £12,000 pa
  • Separate kiosk
  • Potential gross yield 13.53%
  • Substantial parking
  • Freehold

Full description

Location
The Subject property is located on Bankers Walk, which is accessed via Common Road in the picturesque town of Pembroke.

Pembroke is an historic settlement located on the South West Wales peninsula, in the county of Pembrokeshire. The main point of interest in the town is the magnificent Pembroke Castle, the remains of a stone medieval castle which was the birthplace of King Henry VII of England. The Main Street, which runs the length of the old town, has various interesting Tudor and Georgian houses, 2 historic churches and a pleasant selection of shops.
Pembroke is at the very centre of Pembrokeshire Coast National Park offering many activities along with being within easy reach of the seaside resorts of Tenby and Saundersfoot, the historic and revitalised ports of Pembroke Dock and Milford Haven, the castles of Manorbier and Carew and the delightful beaches of the South Pembrokeshire coastline.

Description
The Open Plan Café/Bar/Restaurant seats approximately 50 covers, is situated on 2 levels and offers tiled flooring, server counter and array of good furnishings.

The room offers the opportunity for many uses and is currently being utilised as an American Style Diner.

There is a Kiosk located to the side of the business with a separate entrance and benefits from a serving hatch onto the pavement. The kiosk can be used as an ice cream parlour or similar takeaway unit.

Outside there is additional seating for 24 covers and further potential for expansion to the rear of the kiosk.

Adjacent to the premises is a large car park which services the towns visitors and provides a significant footfall to the business.

Services
We understand the property has connections to mains electricity, water and drainage.

Tenure
Freehold

Business Rates
The premises have a current rateable value of £7,400.

Investment Analysis
Currently the Diner alone is let at £12,000 pa, we are advised this can be increased to £14,000 at the next rent review in October. In addition the kiosk can be let on a separate basis for £3,600 pa. In total this would generate £17,600 pa representing a gross yield of 13.53%

More information from this agent

Nearest stations

  • Pembroke (0.6 mi)
  • Pembroke Dock (1.5 mi)
  • Lamphey (2.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

John Pye Property, Nottingham

James Shipstone House, Radford Road, New Basford, Nottingham, NG7 7EA

0115 798 0657 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Pembroke (0.6 mi)
  • Pembroke Dock (1.5 mi)
  • Lamphey (2.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

John Pye Property, Nottingham

James Shipstone House, Radford Road, New Basford, Nottingham, NG7 7EA

0115 798 0657 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call John Pye Property, Nottingham on 0115 970 6060.


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