This ancient former pub for sale is a “unique” development opportunity that could be a perfect project property.

The Three Horseshoes, on Drybridge Street in Monmouth, is Grade II listed and is of 17th century origin, although most of the building dates to the 1800s.

The pub was set up in the 1880s by blacksmith William Philips, who had also been running a forge on Drybrook Street since 1859.

The name “The Three Horseshoes” was a nod to Philips’ primary profession, and the fact that much of his passing trade was due to a horse losing a shoe.

Over the years, the pub was also used as an inn, and eventually shut in 2018, being sold to a businesswoman who planned to use the bottom floor as a beauty and hair salon.

Due to this, the former pub comes with planning consent for the conversion of the ground floor to A1 business use.

On the upper floor, permission has been granted to create four self-contained residential apartments.

The proposed first floor accommodation comprises one flat with a kitchen, sitting room, and a bedroom with en-suite shower room, a second one-bedroom flat with the living area comprising an open-plan sitting and dining room, and two further flats with two double bedrooms and a family bathroom each.

The property spans approximately 0.25 acres, with a yard and garden area to the rear with river frontage, a parking area, and planning for a double garage.

The house is being sold by Powells Rural Agency, and has a guide price of £375,000.

David Russell of selling agents, Powells, commented: “Situated upon the historically renowned Drybridge Street in Monmouth, a stone’s throw from the prestigious Drybridge House, and Monnow Bridge, is the imposing black and white painted building of the former Three Horseshoes Public House.

“Having closed some years previous as a Public House, the building has now been brought to the market and offers an exciting opportunity for a developer or investor to acquire a premium mixed-use development project.

“The Three Horseshoes is offered with approved planning permission for A1 commercial use on the ground floor, and C3 consent for four self-contained residential apartments above, providing excellent commercial appeal to an investor seeking to potentially secure multiple revenue streams and with great potential for a high yielding investment.

“The former Three Horseshoes is priced at the attractive Guide Price of offers in excess of £375,000. For further information, or to book a viewing, please contact David Russell at Powells at 01600 714140 or email [email protected].”