Run an Admiral Pub, Athelstan Arms, Bournemouth

Admiral Taverns - Leased & Tenancy; Bournemouth; On-site; GBP 32,000 - 40,000

Job description

Pub Layout: The trade area is dominated by the long, central bar servery and is very open plan. There is a mixture of low-level and fixed seating accompanied by various wooden and carpeted zones. There are two featured games areas both housing pool tables, darts boards and fruit machines. Externally and to the side of the property, there is an attractive, landscaped beer garden and also two covered seating areas with outside televisions and comfortable seating. From the garden, there is also a separate gateway out onto the front car park, allowing for easy access during summer events. The car park has approximately 10 spaces to the front and to the side of the pub, and there is also ample on-street parking available. To the rear of the bar, there is access to the catering kitchen and also to the stairs which lead to the owners' accommodation and letting rooms.

Trading Style: The Athelstan is a substantially sized property, in the heart of a bustling housing area. It is currently a predominantly wet-led site with a Sunday food offering and occasional buffets for the sports teams. Two popular pool teams and a darts team run from the Athelstan, bringing a steady income and trade stream, as well as being a superb host of live sports with numerous televisions inside and outside, as well as a large pull-down screen for more popular events. There are currently eight letting rooms at the Athelstan, and these are very popular due to the pub's location and proximity to the local beach and seafront.

Private Accommodation: The private accommodation consists of one double bedroom, kitchen, lounge, and bathroom and is presented in good condition throughout.

Trade Accommodation: The trade accommodation hosts six double and two single letting rooms, some of which are en-suite; however, there is the possibility of converting some of these rooms into more private accommodation should the need arise.

Financial:

Annual Rent: £32,500

Security Deposit: £5,000

Working Capital: £5,000

Stock: £5,000

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: Admiral is seeking to secure a dynamic, experienced retailer, who is capable of developing all three income streams of wet, dry, and accommodation sales. The new licensee must be multi-skilled and possess the ability to maximize the trading opportunities that this pub presents, with a particular affinity to developing an exciting and innovative food offer that brings in new faces and establishes the pub in the area as the place to eat. This is a fantastic opportunity for the right applicant to grow sales and increase footfall using good social media and marketing and by presenting a wholesome and inviting community pub.

Future Plans:

Additional Information:

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. On occasion, our Business Development Manager will discuss a start-up rent which is discretionary to an individual pub and can be discussed.

Security Deposit: This sum of money will be held on your account and will be returned to you on exiting the pub based on your final account balance and the condition of the property. Our standard deposit is 25% of the headline rent. On occasion, we can negotiate a lower security deposit with the aim to build up to our full deposit on a long-term agreement.

Working Capital: This is a recommended amount required which will be used in the day-to-day running of the business.

Stock: This will be valued by an independent valuer on the day you take over the pub. This includes unbranded glassware, unopened bottles, wines, spirits, and any unopened/opened kegs and cask ale providing the container is unopened.

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. This will also include furniture.

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.

Training: £350.00 – Before signing a long-term agreement, you will be required to attend our 7 Steps to Sales Success training programme. Held online over two days, you will learn marketing and business strategies that will help you to grow sales in your pub – step-by-step.

Service Charge Cost: £63.33 per week – The Admiral Taverns Premium Maintenance Package will help take care of your compliance and statutory obligations with one simple fee, whilst giving you peace of mind about your boiler and cellar cooling repair and replacement. This also includes full access to e-learning for you and your staff.

*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 and the licensee only occupying one property for commercial purposes. Please note, this only applies to pubs marked with an Asterisk *