Boatyard, Bangor

The Boatyard is located in the city of Bangor in North Wales and is a large end of terrace site. Situated on the outskirts of the city centre on a road leading to the promenade, the outlet benefits from fantastic views over the famous Menai Straights which separate Anglesey island from the mainland UK. The Boatyard is lucky enough to have a constant customer stream all year around as the city has a large university with around 12,000 students, many of which call the city home for most of the year. The volumes increase in the summer months as the vibrant tourist market take advantage of Snowdonia, the island of Anglesey, the surrounding area amenities and the abundant leisure activities. The Boatyard is lucky to hold the most prominent position in Bangor with a mixture of private housing with a high capacity spend and student accommodation.

Pub Layout

The Boatyard is a welcoming pub with sofas and dining tables, it has four areas all serviced by a compact, but efficient horseshoe bar. As you enter the car park to the off road parking area there are two large external areas that are currently used for car parking and there is a further raised viewing platform with outside seating which has spectacular views of the enchanting landscape.

Currently there is a central bar servery in the centre of the trade area and a couple of annex rooms that are allocated to dining. The kitchen is located at the front of the property next to the entrance and there are also another two other entrance points from the road front and the rear courtyard that customers can use. The Boatyard boasts one the best beer gardens in the area with panoramic views of the Menai straight, the paved garden has around 10 large benches and is a real sun strap. The car park can hold around 8 cars although the majority of customers would normally walk to the pub.

There is a full refurbishment planned at the Boatyard.

The Boatyard has a good local trade throughout the year with a good value food offer with lunch time and evening offers that encourages passing trade to stop for a bite to eat. The bar is well stocked to suit all tastes including cask ales. Music has previously been popular alongside quiz nights and should form part of the new licensees business plan to drive new customers to the pub.

Private Accommodation

The private accommodation has five bedrooms, kitchen and bathroom.

Annual Rent:£35,000 – post capex

Security Deposit: £5,000

Working Capital: £4,000

Stock: £8,000

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.

Training: £325 plus VAT

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

The Boatyard is a fantastic proposition and can definitely be a jewel in the crown due to having one of the best locations in North Wales. Currently a sleeping giant, with the right vision and skill set the outlet could be one of the most visited outlets in the area. With an innovative refurbishment scheme and design that allows the customer journey to flow and utilise the pubs amenities, we will ensure that the Boatyard is not only one of the best outlets in Bangor but also in the whole of North Wales.

Extensive refurbishment planned including internal and external areas.

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.  Please note, this only applies to pubs marked with an Asterix *