The leasehold of Elixir, a molecular cocktail bar in one of the most well known, late night leisure districts in Swansea, has been sold via Christie & Co to a first time buyer off an asking price of £35k.
The popular bar trades from a substantial Grade II-listed property with capacity for 200 customers, sitting in one of Swansea’s busiest areas, which is partially pedestrianised, on the corner of Green Dragon Lane and Wind Street.
The city has recently benefited from significant inward investment, including the £3.3 million Welsh Government Regeneration Project. Swansea also benefits from a large student cohort of around 25,000, who are regular patrons within the city centre throughout the week, along with the multitudes of visitors to Wales’ second largest city.
Elixir was opened in June 2016 by the previous owner, One Love Bars Ltd. Rhys Morgans, the company’s director said that he decided to sell in order to allow him to focus on other business interests abroad.
Elixir has been acquired by a new entrant to the market, Andrew Harries, who is based in Cardiff. With a background in the food & beverage trade, Andrew is an experienced pub manager with a strong knowledge of the industry, most recently having managed The Gatekeeper, in Central Cardiff.
Harries commented, “I am delighted to have the opportunity to take on Elixir, I see Wind Street as an ideal location, and I am very excited to open the doors following some investment at the property. I would like to thank Corrina at Christie & Co for her help and support to get this deal over the line and the outgoing owners One Love Bars Ltd.”
Corrina Jones, Senior Business Agent at Christie & Co, handled the sale and commented, “Elixir provided the ideal opportunity for an experienced new entrant into the sector to acquire their first business and we are delighted to have secured the sale to Andrew Harries. Swansea is a vibrant, growing city and Wind Street offers an ideal location for this style of business.
“We wish One Love Bars Ltd the best with their new endeavours and look forward to seeing Andrew’s new plans for the business develop.”