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Caerleon Investment Property Producing For Sale

Newport, Gwent, UK
Asking Price:
£600,000
Turnover:
Available on request
Net Profit:
Available on request

Investment property producing a yield of 7.6%
Large site in sought after residential area
Currently operating as Hotel and Restaurant
Large Car Park for 30+ vehicles
Development potential, subject to planning
Current rent £52,000 per annum

Property Information

Property:

Freehold

Location:

The property, currently known as the No 2 Augustan, is a 12 bedroom Hotel and Restaurant which is located on the outskirts of Caerleon, an attractive historical town situated on the River Usk. It is a sought after residential location with a rich history as it was once one of the most important military sites in Britain under the Roman Empire, home of the Second Augustan Legion. The riverside town is surrounded by beautiful countryside providing an ideal base for tourists and enjoys a number of location attractions including the National Legion Roman Museum, Amphitheatre and Roman Baths which draw visitors all year round. It is also within easy motoring distance of the Brecon Beacons National Park and M4 motorway which provides easy access throughout South Wales. The area is also due to benefit from the opening of the new £350,000,000 hospital at Llanfrechfa which is a short distance from the subject property.

The property enjoys a prominent roadside location on the B4236. It appears to be constructed in the main of stone and brick with render and colourwashed elevations under pitched tiled roofs. The original property has been developed several times over the years and currently offers a 12 bedroom Hotel with restaurants, bars, private accommodation and a large car park.

The business has traded successfully for many years under our client’s ownership but has more recently been let. The current agreement is for a period of 5 years and began in 2019.

Premises Details:

MAIN ENTRANCE leading into BAR having carpeted floor, feature stone chimney with solid fuel burner installed. Wood panel fronted bar counter with matching back bar fitting. A mixture of loose leather chairs, bar stools and poser style tables seating approximately 20. RESTAURANT on stepped level with balustrade divides. Carpeted floor throughout. Seating for approximately 30. Wood panel fronted bar counter with matching back bar fitting from interconnecting servery.

MAIN RESTAURANT being a linear room decorated to a good standard with carpeted floor and seating for approximately 60 customers. The room is overlooked from the catering kitchen with open service hatch to customers. CATERING KITCHEN. WASH UP. Walk in CHILLER. Overspill RESTAURANT (former reception) having carpeted floor and seating for approximately 32. WC. OFFICE.

LADIES & GENTLEMEN’S TOILETS. ON LEVEL CELLAR.

LETTING ACCOMMODATION
At first floor there are 12 ENSUITE LETTING BEDROOMS configured as 5 double, 4 family and 3 single.

PRIVATE ACCOMMODATION
FLAT providing open plan kitchen/lounge, 2 double bedrooms with ensuite bathrooms. The flat enjoys a separate external access from the rear of the property.

EXTERNAL
To the opposite side of the road is the large hardcore CAR PARK for 30+ vehicles.

PLANNING
The owners have previously applied for redevelopment of the site into 10 apartments and 3 houses along with parking for all. The application was successful but full planning permission was pending the agreement of the Section 106 application. At that time the owners decided not to develop the property and withdrew their application.

All interested parties will need to make their own investigation into the potential for future development of the site.

Contact Sidney Phillips Ltd

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