OR CALL 01244 321 171 FOR MORE DETAILS
The Borough Arms is an 18th Century Public House located in the residential area of Lymington and within walking distance from the high street. It is surrounded by residential housing, B&Bs and small businesses with the large council offices only a short distance away along with the red funnel crossing to the Isle of Wight. In 2019, Admiral Taverns completed a significant investment creating a brand-new kitchen to the rear and a complete refurbishment to the pub internally and externally. This investment has completely re-positioned the pub in the local market as a venue that offers good quality home cooked food in a cosy welcoming environment.
The pub is naturally sectioned into three areas due to the layout of the building. You have a seating area to the right that can be adapted for both diners and drinkers, the central area has the bar servery with more casual seating to the front and the left hand side is again seating but hosts the carvery unit and entrance to the kitchen. The toilets and the garden are to the rear of the property. There is also a large car park to the rear and side of the pub that will hold circa 25 cars and this space is invaluable to all diners especially the elderly element of the demographic. This area has also been used for carnivals and several outside events with a marque and hog roasts. To the rear of the property there is also a large outside store that holds the fridges and freezers and dry store for the kitchen with a garage that is used for further storage.
The Borough has 64 covers internally and has seating areas to the front, rear and side of the pub to enjoy the summer months. The pubs currently has a sales mix of 60% food and 40% drink. The food sales have been developed in the last two years by a very successful carvery offer on a Sunday and on a Wednesday lunch time for golden years. There are also weekly specials and a strong rhythm of the week with a daily promotion including Curry Club on a Thursday again served from the carvery units, Fish and Fizz Friday along with weekend breakfasts. The site currently boasts a 5-star food hygiene rating, 4.6 Google rating and a 4.5 trip advisor rating. The bar holds a range of three cask ales with two running on rotation and will support local brewers through the SIBA network.
The Borough is not only a place for great food but also has a strong support from the community and serves as a central hub with an abundance of activity including live acoustic music, numerous charity events, the annual carnival all proving to be an integral part of the Lymington community.
The private accommodation consists of three bedrooms, kitchen/diner and bathroom all is good order.
Annual Rent: £34,000
Security Deposit: £5,000
Working Capital: £5,000
Fixtures and Fittings: Upon Valuation – funding options 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: £250 plus VAT
For a breakdown on financial information, please refer to the ‘Additional Info’ tab.
The pub is very well presented and loved by the local community and an excellent opportunity for an individual or couple to maintain and build on the current level of business. The new licensee will need a strong food background to maintain the quality and volume of food but still have a keen interest to maintain the community atmosphere and events that have put this pub back on the map.
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)
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
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
Training – This is required when taking on a Business Support Agreement. Included is an e-learning package for you and your staff and attendance to our ‘Set Up To Succeed’ workshop held at our Head Office in Chester. Please note, you will be required to attend this workshop before signing a long term tenancy agreement.