High profile cocktail and events venue in Shrewsbury on the property market

Albert & Co's Frankville, in Shrewsbury is a part of a group of night time venues including Albert's Shed but the owners say they are having to focus on their bigger venues.

With a large brand new venue, Albert & Co Fairground, set to open in Southwater, Telford, within weeks the owners say the company's small management team has to put the focus in other areas.

David Gregg, the company's general manger, confirmed that Albert & Co Frankville at 128 Frankwell, Shrewsbury is currently being marketed for sale by Sidney Phillips.

He said: "As the current lease on the premises nears its renewal date, we are evaluating several options for the future of the business, one of which is potentially disposal which is why it is currently listed, predominantly to gauge interest."

Interest has already been shown in the business which is on the leasehold market for offers around £50,000. Only recently it has had a £70,000 refurbishment, with many bookings which the current owners will encourage the new owners to fulfil.

Mr Gregg said: "The business has historically performed well for us and continues to do so, particularly with private hire functions and ticketed events however, with a brand new venue, Albert & Co Fairground, set to open in Southwater, Telford, alongside our existing Telford Albert’s Shed venue, we are mindful that we operate with a small but talented management team and the added pressure of another large venue may well require us to focus solely on our larger, higher volume venues."

Albert & Co Fairground is the company's largest to date.

He added that all current staff have been assured that in the event of a sale, they will continue to be employed Albert’s Shed, also in Shrewsbury.

"We are fortunate to have many future private function and event bookings in the diary and are committed to ensuring that in the event of a sale, new operators would be encouraged to honour those bookings with the terms already agreed," Mr Gregg said.

Albert & Co owners believe that the Frankville venue would be an excellent opportunity for a husband and wife team. It has been fitted out with equipment and has two bars, one upstairs and another downstairs.

Being just across the river and not in the town centre it is also not caught up with the higher rates paid by similar businesses. It has sales of around £8,000 per week, according to information with Sidney Phillips.

For more information from Sidney Phillips visit the website.