A restaurant and lounge bar located on the banks of the River Severn in Shrewsbury is set to reopen this summer under new ownership.

The former Terrace Charcoal Grill and Lounge Bar premises at 6 Smithfield Road – marketed by Towler Shaw Roberts – has been purchased by an undisclosed local company.

Offers in the region of £495,000 had been invited by TSR.

Josh Hyde, who handled the sale for TSR, said: “The property occupies a stunning and highly prominent location on the banks of the River Severn, fronting Smithfield Road in Shrewsbury town centre.

“Having closed at the end of last September, we were instructed to market the property, which attracted a high level of interest ahead of a sale being agreed.

“The new owners are looking to deliver a similar concept and, after some refurbishment work, intend to launch their new venture this summer.

“They will reveal their exciting plans for the property soon.”

The Smithfield Road property features a substantial bar and restaurant with an extensive outside decked and patio areas, with self-contained accommodation to the upper floors.

The restaurant comprises a modern pergola-style structure with retractable roof and glazed elevations, providing seating for up to 48 covers in its current arrangement.

The lounge bar includes a spacious external decking area, with room for up to 60 covers.

The lower patio and decking areas, known as the river garden, provides a further 68 covers with panoramic views along the River Severn.

The upper floors of the main building feature modern self-contained accommodation, with a kitchen and living room on the first floor, with three bedrooms and a bathroom on the second floor.

The property also benefits from mooring and fishing rights to the lower-level river bar.

Pictured: The property sold by TSR at Smithfield Road, Shrewsbury is located on the banks of the River Severn.