New tenant being sought for iconic Cardiff nightspot venue

Following the closure of Henry’s Cafe Bar Propatir has been appointed to market the building

What was one of Cardiff’s best known nightspots, Henry’s Cafe Bar, is being marketed to attract a new operator. The owner of the building on Park Place is looking to secure a new tenant after owner of Henry’s, Stonegate Group, opted not to enter into a new lease. Henry’s, close to the New Theatre, was one of the best known night venues in Cardiff having operated at the location for 30 years. Stonegate, which is the largest pub company in the UK, took over the venue when it acquired the entire bar portfolio of Tattershall Castle Group in 2015. Henry’s closed back in February.

The empty building, which is owned by an undisclosed private landlord, extends to 25,000 sq ft, of which Henry’s occupied around 13,100 sq ft on the ground and basement levels.

Cardiff-based and recently established real estate investment and asset management firm Propatir, set up by Alex James, has been appointed to market the property. While at an early stage they have received strong interest from bar and restaurant firms, as well as from boutique and service apartment operators with a view to leasing the entire building from the landlord – subject to planning approval and refurbishment. While a challenging market for the UK hospitality sector, there are strong sub-sectors including private equity backed Irish bar operators and those catering for a mainly student market. Mr James said: “This is a prime opportunity to refresh a celebrated piece of Cardiff’s nightlife history. Leasing this iconic Park Place venue provides you with a fully fitted bar and restaurant within a character rich space boasting over 30 years of patron loyalty. This well-located hospitality venue captures strong, diverse footfall from local offices, students, and tourists alike, positioning your business precisely where Cardiff comes to celebrate, shop, and enjoy the theatre.” Mr James began his career with DTZ (now Cushman & Wakefield) before joining Knight Frank where he held senior roles including global capital markets partner and head of private client advisory. He has advised on real estate investment transactions with a value of more than $3bn..