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Albemarle, Plymouth

Plymouth, PL5 4DD

Your investment

£12,500

Agreement Type

Tenancy
  • Prominent and desirable residential location
  • Established business with excellent trade
  • Zero* Business Rates

The Albemarle is a large detached pub in the suburban Whitleigh area outside the city of Plymouth. The Albemarle is a popular and imposing pub, at the heart of the local community and underwent a significant refurbishment on 2022 externally and also throughout the trade areas including a smart efficient galley kitchen and toilets. Whitleigh is a town of around 7,000 people that has an abundance of properties as well as various schools and a shopping precinct. Known as Britain’s Ocean City, Plymouth is a hive of bustling activity with culture and history at every turn. The city centre is around 9 miles away and is easily accessible by car, bus and train and is also home to the infamous Plymouth Argyle Football Club.

 

Pub Layout

When viewing the Albemarle, you cannot help but be impressed by the size and layout of the pub lending itself to many styles of entertainment, sporting just enjoying the company of friends.

The pub itself has a smart new style whilst retaining its traditional values, occupying a large plot right in the centre of the Whitleigh near to the local shops and on the passing main road. There are two interlinked trade areas both served by two attractive bar areas. The lounge bar is a large space also with a raised seating area which is ideal for functions and live music. The second bar is very much geared for pub sports including darts and pool. There is a well-equipped commercial kitchen behind the bar that is quite capable of producing a traditional pub menu.  When walking through the trade areas, they are well decorated and appointed and the ladies and gents toilets are also in very good condition. Access out from the front and sides of the property lead you to the large gardens with numerous pub benches and lawn and there is an ample carpark for approximately 12 cars at the rear of the pub.

The Albemarle is a great wet led pub with the ability to serve a simple food menu. There is an extensive drinks range across all beers, wine, spirits and soft drinks and there is a welcome and friendly atmosphere. The pub is open 7 days a week and is enjoyed on any occasion whether that be a quiet drink with friends, watching the match or out as a family, both for lunchtime and evening. The pub has a Pool and Darts following and would be an ideal pub for watching the sports on SKY and BT Live Sports. At the weekend the pub really comes alive with regular entertainment including live music and karaoke. Outside in the summer months the extensive gardens are perfect to enjoy time with friends in the sunshine.

 

Private Accommodation

The well sized private accommodation consists of three double bedrooms. It also benefits from a domestic kitchen, large and well appointed lounge, and family bathroom.

Annual Rent: £23,500

Security Deposit: £5,000

Working Capital: £5,000

Stock: £2,500

Business Rates: £Nil*

F&F: Approximately £16,000. Funding options may be available.

Training: £325 plus VAT

For a breakdown on financial information, please refer to the ‘Additional Info’ tab.

*Based on the April 2023 rating list, the Zero Rates Payable is based on small business rates relief being applied and the licensee only occupying one property for commercial purposes.

Admiral are looking for a licensee for the Albemarle, who will work hard to maintain the already strong links with the local community, continue and develop the weekly rhythm and associated events, as well as using new and innovative ways to drive additional footfall and put the pub at the heart of the community. The new licensee would also follow and adopt new market trends to develop on the current drinks offer throughout the year and exploit all the opportunities and facilities the pub has to offer. There are sports teams to grow further and this would also be a great asset to the business.

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

Service Charge Cost – £60.89 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 piece 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 and the licensee only occupying one property for commercial purposes.


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