Pooks Commercial Property Consultants of Shrewsbury report the acquisition on behalf of a retained client of The Exchange Hotel, Bellstone, Shrewsbury, SY1 1HU.

Prominently situated in the town centre and having been closed for over 12 months, this long-established Public House has been bought on a freehold vacant possession basis by Shrewsbury based businessman Quintin Morgan who will carry out an extensive refurbishment and refit.

Comprising a ground floor bar and dining area, the property also includes a range of letting bedrooms/owner’s accommodation. Mr Morgan’s new venture will be a Wine Bar/Bistro, with the second phase of the refurbishment providing letting bedrooms.

Marcus Pook who handled the negotiations commented: "The acquisition of this property by our client is part of a continuing trend by local concerns to buy town centre pubs from the major groups to operate successful high quality niche businesses. Along with the conversion of the adjoining former Astons furniture store to the successful Theatre Royal Apartments scheme this prominent corner of the town is set to draw an increasing footfall".

The property was purchased from a national public house group by way of an "off market" transaction at a price in excess of £1/2 million. It is expected that at least 10 new jobs will be created by the venture, which will be fully trading by the mid summer.

For further information contact:
Marcus Pook at Pooks Commercial Property Consultants - 01743 276633.
26 Claremont Hill
Shrewsbury
SY1 1RE
Email: mjp@pooks.co.uk