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Prince of Wales, Bridgend

Coychurch, CF35 5HD

Your investment

£8,000

Agreement Type

Tenancy

The Prince Of Wales is a traditional Welsh stone detached property in the heart of the village of Coychurch. Coychurch is a small village situated between Pencoed and Bridgend, and is home to some 2,000 residents which gives it a great community feel. There is regular public transport between the village and Bridgend. Bridgend has a very diverse culture and is home to a large college and also a number of large industrial areas bringing a lot of employment to the area.

The Prince Of Wales is a traditional Welsh stone detached property in the heart of the village of Coychurch. Coychurch is a small village situated between Pencoed and Bridgend, and is home to some 2,000 residents which gives it a great community feel. There is regular public transport between the village and Bridgend. Bridgend has a very diverse culture and is home to a large college and also a number of large industrial areas bringing a lot of employment to the area.

Pub Layout

The pub has two main trading areas separated by a small corridor, and a feature open fire splits the traditional regular’s bar and the lounge area which is used for entertainment. The décor has a warm traditional feel there is a mixture of bench and freestanding seating. The bar areas can cater for approx. 30 covers and is serviced by a suitably sized trade kitchen located at the rear of the pub. There is a small rear garden at the pub which can be access through the main bar and this is adjacent to the car park at the site and can hold approximately twelve cars.

The Price of Wales is a traditional pub that is at the heart of the local community. Currently the site is predominantly drinks focused, but the vision for the site would be to look at the food offering to grow this area of the trade. Currently weekly quizzes are very popular and regular music acts help to draw customers to the pub. Local sports teams would be another area to attract customers to the site and fit in with the local community. A strong rhythm of the week would be needed that was well communicated to grow the regular customer base.

Private Accommodation

The private accommodation consists of a spacious lounge, two good sized bedrooms, kitchen and bathroom all in good decorative order.

Annual Rent: £16,000

Security Deposit: £3,000

Working Capital: £3,000

Stock: £2,000

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 ideal applicant will share our vision of making the Prince of Wales the place to be in Coychurch and making it sit firmly within the heart of the local community. They will have excellent retail standards and the ability to market the pub both locally and on all social media platforms to communicate with both the local community and the wider towns within the area. A strong desire to get involved with the local community would also be beneficial to build relationships with people who live in close proximity. An understanding of a good food menu that will attract customers would also be beneficial to continue to grow the trade at the pub.

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.

Service Charge Cost – £30.10 per week – This is a weekly charge that includes statutory compliance certification (including Annual CP12 and CP42 gas test), cellar cooling services (including full insurance to cover repairs and / or replacements), Health & Safety Essentials (including assessments) and Licensing Support.

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