24 & 25a St Marys Street comprises a substantial freehold period building, located in this attractive pedestrianised street within the historic town of Chepstow. A busy tourist area as well as good local footfall. Currently the building is sub-divided with a majority part being leased to S A Brain & Company Limited and run as a successful wine bar and restaurant with office accommodation above with potential for conversion to apartments if required, as well as additional shop unit currently leased to a delicatessen/sandwich shop.
The busy Wine Bar is well established and attractively furnished with commercial kitchen, along with secondary prep kitchen and cold store, and ground floor seat covers for approximately 60 clients. With a further 28 to the first floor.
The Lease for the Winebar commenced on 14 December 1999, for a period of 24 years, current Ground Rent of £32,500 per annum. We understand that a more informal Lease is in place for the neighbouring shop unit at approximately £7,500 per annum.
It is noteworthy to consider the immense potential this building offers, either to continue in its current format of Winebar, separate shop with office accommodation above, or to redevelop to a small hotel, or full residential apartments (all subject to necessary planning consent and change of use).
Please note the attached plans are for identification purposes only. If you wish to view, please contact Moon & Co and we will arrange a suitable appointment.