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Eight Kings, Portland

Portland DT5 2DP

Your investment

£18,000

Agreement Type

Tenancy

The Eight Kings is a 19th century pub in the village of Southwell on the island of Portland only 20min walk from Portland Bill. The pub is well supported by the locals in the Southwell community and as Portland is a destination place for tourism, the pub benefits significantly from the summer tourism but there is some winter tourism as well. The Eight Kings has a single public bar and also a restaurant as food is very important to the pub. There is a trade garden patio which is enclosed and a small carpark for six cars. The pub has recently been decorated and upgraded internally and externally and there is a well equipped galley style trade kitchen.

The Eight Kings is a 19th century pub in the village of Southwell on the island of Portland only 20min walk from Portland Bill. The pub is well supported by the locals in the Southwell community and as Portland is a destination place for tourism, the pub benefits significantly from the summer tourism but there is some winter tourism as well. The Eight Kings has a single public bar and also a restaurant as food is very important to the pub. There is a trade garden patio which is enclosed and a small carpark for six cars. The pub has recently been decorated and upgraded internally and externally and there is a well equipped galley style trade kitchen.

Pub Layout

When walking through the main front door you can choose to go right into the public bar or left into the restaurant. The public bar has some 20 covers and stools at the bar, darts board and open fire. The public bar has been recently refurbished throughout. The restaurant has approx. 40 covers and leads through to a small snug area which currently gets used as the carvery area on a Sunday. This whole area has been refurbished recently. This leads onto a further entrance and the ladies and gents toilets which have been recently refurbished. Off the corridor, the door leads out to the patio garden which is in good condition with various tables and benches. This same corridor leads to the trade kitchen and same floor beer cellar.

Food is an important part of the pub business and has a good reputation and many good trip advisor reviews. The Sunday Carvery is well supported. Portions are generous and the style is very much ‘good pub food’. The trade split is 60/40 in favour of wet sales but does vary at different times of the year. The wet offer is extensive with two real ales, various lagers and ciders and a full wine list. A full spirits range is available and a soft drinks range.

Private Accommodation

The private accommodation consists of three bedrooms, kitchen, living room and bathroom. There is also a small private roof terrace which acts as a domestic garden. All areas are in good condition and would prove comfortable and versatile to any licensee and small family.

Annual Rent: £19,000

Security Deposit: £5,000

Working Capital: £10,000

Stock: £3,000

F&F: TBC (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.

A suitable licensee will embrace the locality of the pub and offer a solid quality pub menu using local fish as seasonal specials. The bar must serve great beers and wines. Due to the location and passing trade, non-alcoholic drinks will be equally important here and should be maximised

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

 

 


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