Building housing popular Shrewsbury restaurant and bar for sale for £1.8 million
A listed building housing a popular restaurant and bar in Shrewsbury town cetnre has been put up for sale.
The timber-framed structure housing The Peach Tree and Havana Republic, situated between the river and Shrewsbury Abbey on Abbey Foregate, is on the market for £1.8 million.
The Peach Tree is described as a contemporary all-day restaurant - serving breakfasts, afternoon tea and Sunday lunches - while the neighbouring Havana Republic is a Cuban-inspired cocktail and late-night bar which contains a DJ booth with a capacity of around 250 customers.
Halls Commercial says the current owners, who own the restaurant, bar and building, have operated the business since 1997 and have "extensively refurbished the premises throughout creating the successful popular venues we see today".
The building has now been listed for sale and provides an "excellent investment opportunity", however customers won't notice a change in the running of the businesses which are not on the market.
"They have continued to build the trade and figures year on year adapting the business to suit customer demand and achieving impressive levels of turnover and net profit," the listing says.
"Due to other business commitments they have decided to place the freehold interest in the property on the market."
The Peach Tree and Havana Republic on Abbey Foregate are located within a parade of Grade II listed properties, with parts of the timber-framed buildings said to date back to the 1400s.
In its listing for the building, Fleurets says: "The trade areas are located over two stories and separated into a number of rooms allowing the business to accommodate greater numbers of customers during peak trading times whilst still retaining an intimate atmosphere during quieter periods."
The building is listed with a proposed 10-year lease with an initial rent of £125,000 per annum.
