A PROMINENT and historic riverside building has gone on the market for £750,000.
The distinctive black and white building, known as The Old Rectifying House, on North Parade, has been listed for sale by AMT Commercial.
It is home to the restaurant and cocktail bar of the same name which is the city's only venue mentioned in the Michelin Guide.
The Old Rec has been closed since being hit by flooding in February, caused by Storm Eunice and Storm Franklin.
A message on the venue's website was posted on February 22 which said: "We've had a bit of a flood. Currently closed. Will update when ready again."
That message still remains on the website, ten weeks later.
The venue has now been flooded three times in the past three years, following floods in January last year and in February 2020.
The February 2020 flood led to an extensive refurbishment with a new kitchen and bathrooms, and the bar having to be rebuilt.
The listing on AMT Commerical notes the risk of flooding, stating that measures have been taken to address the issue.
It reads: “The River Severn is approximately 12m south of the property frontage.
“In the past the property has flooded.
“To mitigate this risk, the property has temporary flood barriers installed across the rear and main entrance, which prevents water from entering the property.
“As an additional measure, a catchpit sump is planned to be constructed to capture surface water with pumps to discharge water across the boundary wall.”
The Old Rectifying House is up for sale for £750,000 but, alternatively, it is available for rent at £50,000 per annum.
The listing describes it as a “landmark property” on a “very busy arterial route”.
It adds that the property is a two-storey building with access from both North Parade and Newport Street at the rear, via a beer garden.
The pub's name comes from the fact that the rear of the building was once part of the Williams distillery.
The rateable value of the property is listed as £50,000 – this is the figure which determines business rates for the property.
The current insurance is approximately £3,000 per annum.
The listing also adds that interested parties are responsible for their own legal costs incurred in the transaction and that VAT is not payable on the rental or purchase price.
Tour of the pub
Ground floor
First floor
Exterior
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