An historic Cardiff nightlife venue which currently houses one of the city's best-known bars is up for sale. The four-floor site of Peppermint, at the corner of St Mary Street and Mill Lane, is for sale with an asking price of £1.95m.
Estate agent Knight Frank says the freehold owner is inviting offers for the "highly prominent" 4,500 sq ft venue, which was previously home to businesses including the Terminus Hotel, Sam's Bar, and Zinc. The building was awarded a Grade II listing in 1999 from Cadw, which described the building as "a mid-19th century public house on an important corner".
The advert from Knight Frank estimates the bar's turnover at £1.3m per year "although understood to be higher". It says the tenant, Peppermint Ops Ltd, pays annual rent of £125,000 on a lease which started in 2018 and is due to end in 2040. The rent is subject to annual RPI (Retail Price Index) reviews "with no cap or collar".
The listing continues: "The basement is utilised as a store with a bar, dancefloor, and seating on the ground floor. The first floor comprises a bar and kitchen with male and female WCs. A further bar and seating area is on the second floor along with a staff and security room. Externally there is a seating area which can seat 150 covers and has a retractable canopy."
Peppermint describes itself as a "happening venue for cocktails and music with a daytime burger menu with sandwiches and pizza". Knight Frank adds that the business is "trading as usual and remains unaffected" by the potential sale.
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