The prominent Grade II listed period property, located on St Mary Street, has been closed for a number of years and was sold by the joint administrators of TCG Ltd.
Situated on one of the city's main leisure circuits, the property, which would suit a number of uses, is a short distance from the Principality Stadium, Cardiff Castle, St David's II Shopping centre and Cardiff Central Station. Other operators in the area include Walkabout, JD Wetherspoon, Maddisons and Premier Travel Lodge.
Christie & Co orchestrated a short intensive period of open marketing which attracted significant interest and competitive bidding resulting in a sale for an undisclosed figure in excess of the £650,000 guide price to property investment company Curzon Real Estate.
John Coggins of the Cardiff Office of Christie & Co, who handled the sale of the property comments: “The Philharmonic offered an increasingly rare opportunity to acquire a prime city centre freehold. We initiated a short open marketing period which was instrumental in attracting strong levels of interest from a range of possible buyers including leisure operators looking to develop a profitable licensed business in an iconic venue and property investors looking to gain a freehold asset in a prime city centre location.
“The scale of the property and the opportunities that the property presents struck a chord with Curzon Real Estate, and we congratulate them on their acquisition of what is sure to be a fantastic investment and look forward to watching their success in developing the property and returning it to use.”