Run an Admiral Pub, 5th Hants Volunteer Arms, Southsea

Run an Admiral Pub, 5th Hants Volunteer Arms, Southsea

Pub Layout: Entry to the pub is granted via the main front door where customers will be greeted with an open-plan, ground floor bar area with single bar servery to the right. This trade area has gained a reputation amongst the local community for hosting sports and live music nights. A separate trade area to the rear has its own separate bar servery and is used as a tap room for customers not wanting to get involved in the pub's entertainment and events. The pub does not have a car park; however, street parking is available.

Trading Style: This pub is run as a wet-led venue with the majority of its revenue coming from its weekly live music and entertainment nights, hosting a selection of music genres including local artists. The current licensee effectively utilises social media to increase footfall and engage with the wider community. There is no catering kitchen on site, but there is an opportunity to develop a small back bar food offering. The venue features a premium drinks selection, with a particular emphasis on cask ales, which are highly popular among the local clientele.

Accommodation: Private Accommodation: The private accommodation consists of three bedrooms, a large lounge, kitchen, bathroom, plus a small office.

Financial:

1. Annual Rent: £19,950
2. Security Deposit: £3,000
3. Working Capital: £5,000
4. Stock: £5,000
5. Fixtures and Fittings: To be confirmed upon valuation – funding options may be available for the right licensee.

Tie: All drinks categories are tied. For fully funded licensees on long-term agreements, we offer free-of-tie options for certain drinks categories in exchange for an annual fee.

BDM Vision: The ingoing licensee will be experienced, community-focused, and passionate about cask ale. We are looking for someone to build on the solid foundations that our current licensee has developed and be able to unlock further growth at the pub. The pub will remain a wet-led venue, emphasizing high-quality drinks, with a particular focus on its excellent range of cask ales. The 5th Hants will continue to be known for its regular live music acts, solidifying its role as the social hub of the Albert Road community. With its welcoming atmosphere and vibrant entertainment, this pub will offer plenty of reasons for locals and visitors alike to stop by.

Future Plans: Additional Information:

1. Annual Rent: This is our lowest rent figure associated with a Full Tie. If the tie is reduced, the effective rent (via Tie Release Fees) will increase. Rent is billed and paid for weekly in advance depending on the payment terms agreed.
2. Security Deposit: This sum of money will be held on your account and will be returned to you on exiting of the pub based on your final account balance and the condition of the property.
3. Working Capital: This is a recommended amount required which will be used in the day-to-day running of the business.
4. Stock: This will be valued by an independent valuer on the day you take over the pub.
5. Fixtures & Fittings: This includes any item that is bolted to the floor or walls, and a fitting to be any item that is free standing or hung by a nail or hook.
6. Training: £350.00 – Before signing a long-term agreement, you will be required to attend our 7 Steps to Sales Success training programme.
7. Service Charge Cost: £63.33 per week – The Admiral Taverns Premium Maintenance Package will help take care of your compliance and statutory obligations.
8. *Zero Business Rates: Based on the April 2023 rating list, the Nil Rates Payable is based on small business rates relief being applied for by the licensee.