Leisure/hospitality for sale in Popular Restaurant With Letting Rooms, The Golden Cross, 14 Princess Street, Shrewsbury, Shropshire SY1

Offers in region of £900,000 (£206.45/sq. ft)
Interested in this property? Call +44 1743 534929 * or Request Details

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Leisure/hospitality for sale 405 sq. m*
Tenure: Freehold Council tax band: Not available

Property features

  • Rare opportunity to acquire a substantial prominently located licenced restaurant 4 high quality letting rooms with an outstanding trading reputation in the historic town centre of Shrewsbury
  • Prominently located in the centre of the sought after county town of Shrewsbury
  • Well presented, extensively fitted out accommodation providing currently 4 letting rooms all with en-suite bathrooms
  • 60 cover ground floor restaurant arranged within two areas of the property
  • Grade 2 listed property providing multi functional accommodation that can be adapted to provide further restaurant space or private residential potential
  • The property has potential for a variety of alternative uses (subject to any statutory consents) and is only reluctantly offered for sale due to retirement

Property description

The property and business are only reluctantly being offered for sale due to retirement. The property comprises of a historic property that is Grade 2 Listed and has a wealth of features internally that can only be appreciated by an internal inspection of the property.

The property is arranged currently to provide a restaurant with ancillary accommodation providing a 60 cover restaurant and 4 letting rooms arranged over three floors and a cellar.

The property is Grade 2 listed and is arranged over 3 floors with a cellar which consists of the restaurant, commercial kitchens, customer WCs, function room/guest living room, letting rooms, office, staff bathroom and utility room.

The high quality and potential of the property can only be fully appreciated by undertaking an internal inspection of the property. The property is fully fitted out including 2 rooms with a bar in the middle currently serving the restaurant.

The property has been in recent years subject to an extensive scheme of high quality refurbishment and upgrading works. The property is licenced. There is a generous street frontage onto Princess Street, which allows dual access from Golden Cross passage and Princess Street, there is also rear access onto Golden Cross passage.

The property would suit a variety of alternative uses subject to statutory consents and could also be adapted to let out the restaurant accommodation separately to the residential letting rooms, to provide an investment return.

The extensive nature of the property and its accommodation means there is significant potential, subject to statutory consents.


Business


The Golden Cross is reported to be the oldest licenced public house in Shrewsbury and records show that it was used as an Inn as far back as circa 1428.

The restaurant and hotel occupies a prime position within Shrewsbury historic town centre and is favoured as a glamorous alternative for visitors, frustrated with the impersonality of the chain hotels. The property provides an intoxicating mix of the best of contemporary interiors, sprinkled livery with shabby chic and antique glamour.

The business is only being reluctantly offered for sale due to the retirement of the existing proprietors. The business is currently ran by the proprietors with assistance from staff and offers the opportunity to acquire a very profitable business. Further information including trading accounts are available from the selling agents upon request.

The business is licenced and has an enviable reputation in the town as a restaurant and benefits from additional income generation from 4 high quality letting rooms. The accommodation on the first floor provides multi functional accommodation that can be used in association with the restaurant and letting business.

Shrewsbury is a growing tourist centre and county town and is the birthplace of Charles Darwin and boasts over 600 listed buildings, including the Castle and the Abbey.

There is vibrant entertainment all year round, with a wide range of events throughout the year, including the International Cartoon Festival in April, Shrewsbury Food Festival in June, the Flower Show in the middle of August and the Shrewsbury Folk Festival at the end of August, as well as various family activities throughout the year.

The town is a university town, and has recently been voted the eighth 'Happiest Place to Live in the UK' from more than 200 towns and cities throughout the country. Shrewsbury is also proud of its prestigious Purple Flag status for its evening and night-time economy.

Shrewsbury is the county town of Shropshire with a borough population in excess of 90,000 people and an estimated retail catchment in excess of 250,000 people within 30 minutes drive time. The Shropshire Tourism Economic Impact Assessment estimates that in excess of 2.5 million people visit the town annually with an estimated tourism spend of £130,000,000.

The town is the gateway to mid-Wales and via the A5 offers easy access to the M54 Motorway and National Road Network.

Rare opportunity to acquire a substantial prominently located licenced restaurant 4 high quality letting rooms with an outstanding trading reputation in the historic town centre of Shrewsbury

Prominently located in the centre of the sought after county town of Shrewsbury

Well presented, extensively fitted out accommodation providing currently 4 letting rooms all with en-suite bathrooms

60 cover ground floor restaurant arranged within two areas of the property

Grade 2 listed property providing multi functional accommodation that can be adapted to provide further restaurant space or private residential potential

The property has potential for a variety of alternative uses (subject to any statutory consents) and is only reluctantly offered for sale due to retirement

Property info

Floorplan(s): Photo 1

Photo 1 View original

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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Halls Commercial, SY4 on +44 1743 534929 * (local rate)

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