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Eagle, Gosport

Gosport, PO12 1PQ

Your investment

£11,500

Agreement Type

Tenancy
  • Recent full internal and external refurb
  • Densely populated residential area
  • Zero Business Rates*

The Eagle is located just off Stokes Road in Gosport where there is a niche shopping area outside of the high street with small shops and services. Gosport is situated on a peninsula on the western side of Portsmouth Harbour, opposite the city of Portsmouth, to which it is linked by the Gosport Ferry. The pub is nestled in a densely populated residential location and is located less than a five minute walk from Stokes Road.

 

Pub Layout

The pub boasts a central bar servery with surrounding trading space, housing a pool table and a fruit machine alongside low level tables and chairs. We have recently completed a full internal and external refurbishment scheme at the site which includes sympathetic and cosy upgrades to the trade areas, new toilets and a full kitchen upgrade. The pub benefits from a rear patio garden which was also included in the refurbishment and is a sun trap in the summer months with beach huts, heating and festoon lighting. We have also upgraded the signage, decorations and lighting to the front exterior of the property.

The pub currently has a balanced sales mix, providing a good food income from the newly invested catering kitchen and a full range of premium draught products, wines, spirits and minerals.  It has several events weekly including a darts team, pool team, quiz night and poker night. The pub also offers live music on Saturdays with a meat raffle on a Sunday.

Private Accommodation

The private accommodation includes four double bedrooms, a bathroom and a living room. The dining room and trade kitchen are on the ground floor giving access directly into the trade garden. The pub also has separate entry into the private accommodation avoiding all trade areas.

Annual Rent: £21,000

Security Deposit: £5,000

Working Capital: £4,000

Stock: £2,500

Business Rates: Nil

F&F: Funding options may be available for the right licensee

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 Nil Rates Payable is based on small business rates relief being applied and the licensee only occupying one property for commercial purposes.

We are looking for a community focused and business driven licensee who will maximise on the potential that the refurbishment has created. The new licensee will build on the current food offer and refocus the drink income streams to increase the footfall and grow the pubs reputation as the hub of the local community.

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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