Property adviser GVA has completed on the freehold sale of well-known Cardiff bar and restaurant Chapel 1877 to growing national operator The City Pub Company.
The deal was brokered by GVA’s Cardiff hotels and leisure team, with a guide price for the sale of £2.6m.
The iconic bar and restaurant, situated in Churchill Way, now joins the City Pub Company’s growing portfolio of 42 pubs across the South of England and Wales.
Chapel 1877, a renovated chapel designed by architect Henry C Harris, is known for its impressive gothic style, creating a unique visitor experience.
John Coggins, Associate Director at GVA, comments, “On behalf of the vendor, Bevan Holdings Ltd we received multiple expressions of interest for the business, a reflection of Chapel 1877’s appeal within the city. The Chapel is an ideal fit for The City Pub Company’s growing portfolio of 42 pubs across the south of England and Wales and we’re delighted to have completed on the confidential sale in a matter of weeks with excellent assistance from Gordon Dadds Solicitors.”
Peter Constantine, GVA Regional Senior Director in Cardiff adds, “Cardiff is one of the UK’s fastest growing cities and is an extremely popular event led destination hosting major numerous sporting events and concerts by major international artists. As a result freehold leisure properties in Cardiff city centre are increasingly rare and always enjoy excellent levels of interest. We’re delighted to have achieved a fantastic sales price for Chapel 1877, significantly exceeding the price we achieved by our sale of Y Mochyn Ddu in 2017.”