Cardiff's popular Tramshed arts venue is up for sale for more than £3m.
Until 2015 The Tramshed was a derelict shell right next door to the capital's city centre. But the century-old Grade II-listed building was given a new lease of life as a gig venue.
Before the coronavirus pandemic, it became a hugely successful and popular gig venue, office space, and yoga studio that transformed the once run-down building.
Now it's listed on the market for offers excess of £3.2m.
Advertised as a "high-quality co-working office space, live music and leisure venue", the building also features more than 30 apartments.
Estate agent Savills, who is selling the property, said the building has a low passing rent of £281,875 per annum.
They add that the long leasehold is for a term of 999 years, from 2015, and that the ultimate freehold owner is Cardiff council.
The Grade II listed building spans across more than 57,000 sq ft, most of which is commercial space.
Back in June 2020 Tramshed it was no longer under threat of imminent closure over a long-running planning row.
Proposals to build new flats behind the building would have impacted greatly on the daily running of the venue, impeding visiting bands and artists' access to the on site car park in order to load and unload equipment.
But, after three years of the development being mooted, it's now been confirmed that the landlord has dropped the plans - which included 16 work-live apartments and 3,000 sq ft of office and business space - while the promoter TEG/MJR continues its lease.
Although the building is up for sale, the events company which runs popular gigs within the building remains long term leaseholders until 2030.
A spokeswoman for TEG MJR said: "We have a long term lease at Tramshed and look forward to working with the future owners of the building in bringing the best live music and events to Cardiff. "
For more information contact Savills on 02920368961.
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