Description
The property comprises the ground, first, and part of the second floors of a three-storey detached building with brick and stone elevations beneath a
pitched tiled and part flat roof. There is a single-storey extension to the side and rear.
The property has an approximate site area of 0.861 of an acre.
Location
The Watermill occupies a prominent roadside position on the edge of the picturesque village of Ormore-by-Sea. The property is moments from Ogmore Castle & Stepping Stones and Ogmore-by-Sea Beach.
Bridgend is located approximately 4 miles to the north-east, providing access to the M4, with Cardiff approximately 20 miles east and Swansea approximately 25 miles to the west.
The site is exposed to modest competition, the Pelican Inn and Three Golden Cups.
Accommodation
The ground floor provides an open-plan trading area served by a central bar servery with seating on loose tables, chairs and bench seating for 130 customers. Ancillary areas include a customer WC, a commercial kitchen, a beer cellar, and a storeroom.
The first and second floors provide the manager’s accommodation, which comprises four bedrooms, a lounge, a kitchen, and a bathroom. In addition to a manager's office and staff room.
The property has a large external area with seating for approximately 130 covers and approximately 63 car parking spaces.
Planning
The property is not listed but is situated within a conservation area.
Tenure
The Property is held freehold (Tile Number WA102793 & CYM839486), subject to and with the benefit of an Occupational Lease to Marston’s Plc (Company Number 00031461).
Tenancy
The property is let to Marston’s Plc on a fully repairing and insuring lease, for a term expiring on 5 April 2046 with a tenant’s only break clause on 5 April 2036. The lease is drawn within the Security of Tenure provisions of the Landlord & Tenant Act 1954.
The passing rent of £81,149 p.a. The lease is subject to an upward-only rent review in April 2031 and 5-yearly thereafter, in line with CPI, with a 1% collar and a 3% cap.
Covenant
Marston’s Plc (Company Number 00031461), established in 1834, is one of the UK’s most established operators of pubs, restaurants and hotels, with 1,328 sites, of which 83% are owned freehold (29 March 2025). Marston’s is listed on the FTSE 250 with a market capitalisation of £339.9 million (as of 9 July 2026).
Marston’s disposed of its 40% stake in Carlsberg Marston’s Brewing Company (CMBC) in July 2024 (FY2024) for net proceeds of £202.6
million. This disposal has been transformational for the business, helping it reduce its debt position.
Floor Areas
The property has the following approximate Gross Internal Areas. Purchasers are advised to check these areas, which are indicative only and show our best estimate under the current configuration. The floor areas are provided for information only, and Savills accepts no responsibility for their accuracy.
Terms
We are instructed to invite offers in excess of £950,000 (£172/SQ FT), which reflects a Net Initial Yield of 8.08% after deducting the usual purchasers' costs.
VAT
It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT on the basis the purchasing entity is VAT registered.
Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.
Viewings
All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff. For further information and all viewing requests please contact the sole selling agents Savills.
