The business has been run by the existing proprietor for over 37 years and is only reluctantly offered for sale due to retirement. The business is diverse with income currently being received from the bar,restaurant, function room and the letting of the two three bedroomed flats to students. The business is currently run by the proprietor and her daughter and three full time chefs and a variety of full and part time staff.
The business trades as a freehouse with the trade broadly split wet(and machines) 63%, food 32% and letting rooms 5%. The business benefits from established local trade,students and is supplemented by the tourist trade. There is significant potential for further utilisation of the function room at first floor level which is not a public area.
The turnover for the year ending 31st of March 2018 was approximately £468,000. Further financial information including audited accounts are available from the selling agents upon request.
DESCRIPTION
The property has remained in the current ownership for approximately 37 years and is only reluctantly offered for sale due to the retirement of the vendor.
The property comprises of a substantial imposing property sitting on a total site area of approximately 0.11 acres. The Cambrian Hotel is a combination of two substantial Victorian properties with a modern rear extension. The property trades as a licensed bar/restaurant with letting rooms and a managers flat and residential accommodation that is currently in use as student flats.
The largest element of the original Cambrian Hotel benefits from return frontage onto Alexandra Road and Union Street. This comprises of the main public bar area and restaurant on the ground floor. The bar has a capacity of 120 and the restaurant has capacity for 70 covers. The upper floors provide the 12 letting rooms,a function room, offices and the managers flat. This part of the property is four storey and is of brick construction under a slate roof cover.
At the rear of the property there is a three storey later extension which was built approximately 15 years ago. This provides on the ground floor a rear extension of the bar(pool/games room), public toilets and part of the kitchen. On the upper floors there are two three bedroom flats which benefit from a separate access off Union Street. The vendors maybe willing to consider retaining these as part of any sale, further details available from the selling agents upon request. The property is of traditional cavity construction and a part tiled and part flat roof cover.
The ground floor of the main part of the property trades as a licensed bar accessed directly from Alexandra Road along with the adjoining Le Figaro restaurant. Le Figaro offers a split level restaurant with its own kitchen and separate bar servery.
The property would lend itself to a variety of uses including continued use as a licensed premises and restaurant and conversion of the uppers to residential or student accommodation and its potential can only be fully appreciated after undertaking an inspection of the same.
Is accommodation included?:
Yes
Location Details:
The property is prominently situated fronting at the junction of Alexandra Road with Union Street in the town centre of Aberystwyth. The property is located opposite the town’s railway station and falls close to Aberystwyth's large bus station and local taxi rank. It is in close proximity to Wetherspoons and a retail development comprising amongst others Matalan, Marks and Spencers and Tesco.
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