Freehold investment opportunity for sale in Wrexham

This property is marketed by:
Sidney Phillips

KEY FEATURES

LOCATION

The Ironworks is located in the heart of Wrexham city centre, surrounded by a wide variety of retail and hospitality outlets and on the main city centre drinking circuit. The city has a population of 61,000 and is located between the Clwydian mountain range and the Lower Dee Valley, neighbouring the County of Cheshire. Wrexham offers plenty to do and includes cultural and historic treasures such as the 16th century Gothic Church of St Giles, 1200 acres of National Trust land and Wrexham AFC.

The latter has put the city on the map in recent years with its Hollywood owners. Wrexham is orbited by a ring road: the A525 links to the A483 which provides access to Chester to the north and Oswestry to the south, whilst the B5430 connects to the A494 to the west and offers routes to the northwest coastal towns and Snowdonia National Park.

The property is a double fronted building with three levels with the left hand building being Grade II listed and of brick construction with rendered elevations, sash windows and slate roofs. There is also an adjoining two storey brick building with on-street entrance.

TRADE AREAS

GROUND FLOOR

On-street entrance leading to MAIN BAR and DANCE FLOOR AREA with wood fronted and topped bar.

Back bar with fridge units, shelving, optics, TV screens and Altro flooring.

MAIN TRADE AREA features parquet and Altro flooring. Loose and booth seating for 30. DJ BOOTH.

DISABLED TOILET. GAMES ROOM/SEATING AREA with loose and perimeter seating for 30. Carpeted floor, pool table and an additional raised seating area for 16 with open fireplace and log burner.

LOUNGE with upholstered and tub chairs for 20. Carpet flooring. Well appointed throughout with feature fireplace. To the rear of the main trade are two additional raised seating areas which would accommodate 60 patrons.

FIRST FLOOR

Split level BAR AREA with seating for 30. Granite topped bar and access to the trade courtyard. Two additional seating rooms to accommodate 35, both of which are both carpeted and have feature fireplaces. Well-equipped trade KITCHEN with Altro floor, hood canopy and good selection of catering equipment and appliances. WASH and PREP AREAS. LADIES’ and GENTLEMEN’S TOILETS also feature on this floor, along with STAFF WC and MANAGER’S OFFICE.

SECOND FLOOR

Open loft space/storage.

TRADE COURTYARD with patio flooring, trellis and raised flower beds, offering seating for approximately 40.

BASEMENT CELLAR comprising large STOREROOM, KEG ROOM, TWO BOTTLE STORES and BEER DROP.

OWNERS ACCOMMODATION

TWO BEDROOM APARTMENT with private access to the rear of the building, comprising entrance staircase to the first floor. TWO DOUBLE BEDROOMS. LOUNGE. KITCHEN and BATHROOM.

EXTERNAL

Adjoining two-storey brick BUILDING used for storage with its own on-street entrance.

No parking is available with the property, although the current tenants rent a car park from a private individual for £5,000 per annum.

THE BUSINESS

Ironworks is a popular late night bar/club on the Wrexham city centre drinking circuit, enjoyed by locals and visitors to the surrounding areas, as well as match day supporters. The venue hosts quiz and poker nights during the week and also caters for private events and functions. It is renowned for its lively weekend atmosphere. The current tenants have been in situ since 2011 and have recently signed a new seven year, free-of-tie lease, offering an annual rental income of £25,000 (9.09% yield). There is scope to increase trade by offering a food menu (taking advantage of the well- equipped trade kitchen) and through more extensive marketing and the development of the two storey brick outbuilding (subject to planning permission).