Traditional coaching inn on Swansea riverside sold through Christie & Co
Specialist business property adviser, Christie & Co has completed the sale of the Ship & Castle Inn, situated in the coastal town of Loughor, Swansea, to a local pubs and hotels operator.
The stone brick property dates back to 1814 and was originally a traditional coaching inn offering shelter for passing travellers, sitting on a main access route and road link to the town centre of Loughor. The spacious venue offers a combined restaurant and bar capacity of up to 75 covers, along with outside seating to the front of the property.
Loughor sits on the estuary of the River Loughor, a growing town with easy access to the centres of larger Llanelli and Swansea and offers easy access to popular areas including the Wildfowl and Wetlands Centre and the historic Loughor Castle which was built in 1106 during the Norman invasion of Wales. Close to the property itself is Parc Williams, which is a base for a number of outdoor activities including tennis courts and a bowling green, attracting local families throughout the year.
Previous owners, David and Karen Madden bought and refurbished the property in 2003 but made the decision to close the business and are now looking forward to their retirement. Mr & Mrs Madden comment, “We are pleased with the help we have received from Corrina Jones at Christie & Co and for finding a buyer who was able to proceed quickly. We are looking forward to the next stage of our lives after a rewarding career as publicans although we will miss our customers who have been loyal to the business over the years.”
The property has been purchased by a local pubs and hotels operator which will retain the Ship & Castle as a licensed business, with exciting plans to upgrade the venue into a gastropub with rooms.
Corrina Jones, Senior Business Agent based in Christie & Co’s Cardiff office who handled the sale, comments, “The transactional market has been particularly active over the first half of the year. Although this property was sold as vacant possession, 85% of pubs sold by Christie & Co during 2017 remained as trading pubs with innovative operators still looking to expand and we also saw an 18% increase in the number of first time buyers entering the sector which is a positive sign moving forward. We wish the purchaser all the best with any new and exciting plans for the property and hope our clients, Mr & Mrs Madden enjoy their well-deserved retirement.”
The Ship & Castle Inn was sold off a guide price of £145,000 for the freehold interest.