The property is very prominently situated fronting onto Bellstone close to the junction with Shoplatch in the Town Centre of Shrewsbury. The road configuration means that vehicles travelling through the centre have to pass the subject property.
The Exchange is located on the southern side of Shrewsbury Town Centre within close proximity of other leisure and evening entertainment venues and numerous town centre public car parks.
Shrewsbury is the County Town of Shropshire with a borough population in excess of 90,000 people and an estimated retail catchment in excess of 250,000 people within 30 minutes drive time. The Shropshire Tourism Economic Impact Assessment estimates that in excess of 2.5 million people visit the town annually with an estimated tourism spend of £130,000,000.
Shrewsbury has many attractions throughout the year, including Shrewsbury Flower Show, Music Festivals and Food Festivals. Shrewsbury was founded in 800AD and boasts 600 Listed buildings including the Castle and Abbey. The town is the birth place of Charles Darwin. In September Shrewsbury will welcome its first university intake.
The town benefits from connections onto the national road network via the A5(M54) Link Road.
The property comprises a substantial three storey property that is currently in use as a hotel, bar and restaurant. The property is licenced and is currently arranged to provide a 50 cover restaurant with 6 bedroomed hotel accommodation. There is also a first floor function room with bar area. The property benefits from an outside seating area providing 26 covers under canopies at the front which is granted under permit from the local authority. Further details are available upon request from the selling agents including a copy of the permit.
The property was subject to a comprehensive refurbishment in 2008 and subsequently a further general refurbishment undertaken in 2014. It is of traditional brick construction under a mainly tiled roof cover with a flat roof section to part.
The property provides on the ground floor an open plan bar/seating and cooking environment. There is arranged over the first and second floors 6 bedroomed hotel accommodation and toilet and welfare facilities, which could operate as a self-contained entity. There is the opportunity for the creation of an external seating area at the rear of the property at first floor level over the single storey structure, subject to the receipt of any relevant consents, to provide roof terrace seating.
The accommodation is well appointed with heating, carpets, power and lighting points where appropriate. The 1930s feel of the building has been retained where possible, including ceiling cornices, multi-paned windows, reconstituted stone frames etc. enhanced by solid oak flooring to the bar and restaurant.
(All measurements are approximate)
Lounge Bar/Seating Area 5.08 x 7.73 m
Dining Area 4.8 x 4.07 m
Kitchen Area 6.6 x 4.8 m
Side Lobby providing access to the first floor
Basement including wine store
and beer cellar 7.07 x 5.85 m
Letting Bedroom 1 4.78 x 3.6 m
Private function /meeting room 7.11 x 5.3 m
Office 4.78 x 2.81 m
Male toilet, Ladies toilet
Letting bedroom 2 4.9 x 4.8 m
Letting bedroom 3 4.2 x 3.88 m
Letting bedroom 4 4.2 x 3.8 m
Letting bedroom 5 4.28 x 2.54 m
Letting bedroom 6 5.35 x 2.73 m
Total Gross Internal Floor Area 350 sq m (4,000 sq ft)
The business has been run by the vendor for the last 7 years and is reluctantly offered for sale due to changes in personal circumstances.
The business trades as a popular bar and restaurant with 6 letting rooms. Morgans has an established functional website and strong online prescence with social media- Twitter, Facebook, and Trip advisor.
It has a working and integrated channel manager into Rezlinks/ EPOS system via Guestline to receive/accept bookings/payments from Booking.com,Late rooms etc.
Morgans offers a wide selection of beers, spirits and soft drinks. The restaurant offers a selection of menus throughout the day and week to ensure there is a wide variety for Breakfast, Lunch, Dinner and Sunday lunch.
Detailed audited accounts are available from the selling agents upon request.
Open hours currently:
Mon-Sat 8am - 12 pm
Sunday 8 am - 11 pm
Food Daily 10 am - 9 pm
Further information can be found on the hotels website www.theexchangehotel.co.uk, which was relaunched in 2014.
The property is offered for sale freehold
The seating area externally is by way of a council permit, a copy of the same can be made available from the selling agents upon request.
We have made verbal enquiries to the local authority and have been advised as follows: -
Rateable Value 2014/15 £40,000
Rates Payable 2014/15 £19,280`