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Park Tavern, Gosport

Gosport, PO12 2HH

Your investment

£11,000

Agreement Type

Tenancy
  • Large function room with own bar
  • Well-maintained, attractive beer garden
  • Prominent residential location

The Park Tavern is located in a densely populated, residential area of Gosport, consisting of well-kept, semi-detached and detached housing. Situated on the corner of Park Road and Alecto Road, the Park Tavern sits opposite Gosport Park which is surrounded on two sides by water views that look out onto Haslar Royal Naval Cemetery. Gosport Park has six rugby pitches and is home to Gosport and Fareham Rugby Club and it also provides a home base to Alverstoke Old English Bowling Club. Gosport is large peninsula town located on Hampshire’s South Coast, on the west side of Portsmouth Harbour and although it has its own town centre shops and large shopping centre, the ferry crossing provides great links directly into the city of Portsmouth itself.

Pub Layout

Upon entry you will see that the pub has an open plan trade area that hosts a large bar servery to the right with loose tables and chairs and encompasses a prominent stage area to the front of the pub which is used for entertainment. Towards the back of the pub there is a large ornate staircase which leads up to a function room with its own bar servery, thus creating an independent trade space to the downstairs bar. There is also a fire escape from this room into the garden so capacity numbers are protected. Also on this floor, you will find the main trade kitchen which is well situated to prepare food for private functions. The beer garden is segmented into two distinct area. The first is a fixed, covered space with a pergola and a small external bar. The second garden area is a well maintained and developed zone with plants, shrubs and loose furniture.

The Park Tavern is a successful, wet-led community pub. With a stage being a prominent feature in the main trade space, there is a strong emphasis on weekly entertainment with live music being extremely popular with an open mic night on a Wednesday, live bands at the weekend and a music quiz every Sunday. The Park is a very popular local space for functions such as birthday parties, christenings and weddings, although at present the kitchen is only used to cater for these events.

Private Accommodation

On the second floor is the private accommodation consisting of three bedrooms, a living room, bathroom and kitchen.

Annual Rent: £18,500

Security Deposit: £5,000

Working Capital: £3,000

Stock: £3,000

F&F: TBC – 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.

*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 seeking to secure a dynamic and experienced retailer, who is community focused and shares our vision of making the Park Tavern the hub of the local community. Our new licensee must have a passion for local events, sports teams and live entertainment and will utilise these to drive the business.  There is scope to not only grow wet sales but to also introduce and grow a pub food offer. With the large upstairs function room, there is also an opportunity to really drive the business from functions and boost the income by providing a valuable venue and service to the local area.

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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