Hereford leisure complex sells off £3.95m asking price

11 January 2008 by
Hereford leisure complex sells off £3.95m asking price

The riverside development was created adjacent to the old Wye Bridge seven years ago by Dutch owners Dr Albert Heijn and wife Monique, who have honoured a pledge to pay a loyalty bonus to the 100-plus staff when the business changed hands.

The main building offers a variety of options across three floors, each with its own riverside terrace.

  • The ground-floor Floodgates brassiere has a 60-seat bar/dining area, an 80-seat restaurant, a 30-seat private diners' room and a 70-seat riverside terrace;

  • The first-floor River Terrace incorporates a main function room to hold 120 seated or 180 standing guests, a 30-seat buffet room and a 60-seat terrace;

  • The third-floor Charles bar can accommodate 40 seated or 100 standing guests inside, with terrace seating for another 60 people.

The business, which turns over around £1.85m a year, also includes the Kate's Square piazza that links the Village to the adjacent Warehouse (a multi-function conference and wedding venue) along with a three-storey owners' house.

Kate's Square is suitable for outside events with courtyard space for 350 people, a bandstand and parking facilities while Warehouse facilites include the Bell Room and the Roaring Meg, which can hold 90 customers theatre-style for wedding ceremonies and functions.

The owners' house includes a large, empty ground-floor room, a self-contained two-bedroom flat on the first floor, and office and storage rooms on the second level.

New owner Croft - a Nottingham-based property development company - plans to extend the brand.

The Bristol office of Christie + Co, which marketed the complex, also sold the 15-bedroom Castle House hotel part of the Left Bank package to local farmer and businessman David Watkins in December 2006.

By Angela Frewin

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