Project Description

Location
The Subject property is located on Bankers Walk, which is accessed via Common Road in the picturesque town of Pembroke.

Pembroke is an historic settlement located on the South West Wales peninsula, in the county of Pembrokeshire. The main point of interest in the town is the magnificent Pembroke Castle, the remains of a stone medieval castle which was the birthplace of King Henry VII of England. The Main Street, which runs the length of the old town, has various interesting Tudor and Georgian houses, 2 historic churches and a pleasant selection of shops.
Pembroke is at the very centre of Pembrokeshire Coast National Park offering many activities along with being within easy reach of the seaside resorts of Tenby and Saundersfoot, the historic and revitalised ports of Pembroke Dock and Milford Haven, the castles of Manorbier and Carew and the delightful beaches of the South Pembrokeshire coastline.

Description
The Open Plan Café/Bar/Restaurant seats approximately 50 covers, is situated on 2 levels and offers tiled flooring, server counter and array of good furnishings.

The room offers the opportunity for many uses and is currently being utilised as an American Style Diner.

There is a Kiosk located to the side of the business with a separate entrance and benefits from a serving hatch onto the pavement. The kiosk can be used as an ice cream parlour or similar takeaway unit.

Outside there is additional seating for 24 covers and further potential for expansion to the rear of the kiosk.

Adjacent to the premises is a large car park which services the towns visitors and provides a significant footfall to the business.

Services
We understand the property has connections to mains electricity, water and drainage.

Tenure
Freehold

Business Rates
The premises have a current rateable value of £7,400.

Investment Analysis
Currently the Diner alone is let at £12,000 pa, we are advised this can be increased to £14,000 at the next rent review in April 2017. In addition the kiosk can be let on a separate basis for £3,600 pa. In total this would generate £17,600 pa representing a gross yield of 13.53%

Viewing by Appointment

To view this property, please contact John Pye Property – property@johnpye.co.uk – 0115 970 6060

Please click the following link to access the legal pack documents – http://www.johnpye.auctiondocs.com/

Address

The Stateside Diner
Banker’s Walk
Common Road
Pembroke
SA71 4EA

Features

✓ Highly desirable tourist area
✓ Close proximity to Pembroke Castle
✓ Well established tenants
✓ Diner alone currently leased at £12,000 pa
✓ Separate kiosk
✓ Potential gross yield 13.53%
✓ Substantial parking.
✓ Freehold rent

Contact

Matt Kirk
Phone: 0115 970 6060
Email: property@johnpye.co.uk
Our Ref: PR188

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