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Prince of Wales, Scarborough

Scarborough, YO11 1XA

Your investment

£12,000

Agreement Type

Tenancy
  • Strong established community local
  • Zero business rates*
  • Coastal location

The Prince of Wales is situated on the corner of the busy Maine castle road and Victoria road, just a 5 minute walk from the busy town centre of Scarborough. Scarborough, England, is the perfect vacation destination for those who want to relax and enjoy the city’s calming atmosphere, as it is famously known to house the largest resort in Yorkshire. This city is also known as a fishing hotspot. A total population of 13800 people live within a ½ – mile radius of the pub, the highest proportion of these being between the age of 25- to 44-year-olds.

Pub Layout

Upon entering, guests are welcomed into an open-plan room which is segmented into two areas and has a central bar as a focal point, making it easy for people to access drinks and creating a gathering spot with it’s abundance of high bar stools and low level fixed and loose seating. To the right of  the pub is a dartboard and games machine, TVs are located throughout the pub for guests to enjoy televised sports. Located to the left hand side of the bar is a raised DJ area, creating a diverse range of entertainment options, catering to different interests and preferences among visitors. This setup allows for a dynamic atmosphere where people can enjoy various activities while still being part of a larger communal space.

 

The Prince of Wales has a vibrant atmosphere, blending entertainment with community engagement to create a lively pub experience. The regular quiz nights, DJ sets, and karaoke nights provide a variety of entertainment options for guests. Introducing live entertainment with bands and artists could indeed elevate the experience further, offering something fresh and exciting for visitors. Maintaining the pub’s connection with the local darts team is also important for fostering community spirit and loyalty among regulars. The new licensee will have a good understanding of the pub’s identity and is keen to build upon its existing strengths while adding new elements to enhance the overall offering.

Private Accommodation

The private accommodation consists of a large living room with family sized bathroom, kitchen and three large bedrooms. 

Annual Rent: £TBC

Security Deposit: £5,000

Working Capital: £3,500

Stock: £3,500

Business Rates: £Nil.  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.

Fixtures and Fittings: To be confirmed upon valuation –  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.

The Prince of Wales pub in Scarborough is a historic establishment located on North Marine Road. It’s a popular spot among locals and visitors alike, known for its traditional pub atmosphere, selection of drinks, and sometimes live music or entertainment events. Admiral Taverns are looking for someone who can be part of the community and link to events and activities in the town and build a good local following with entertainment and pub games. Good service and standards are a must with an eye for marketing on social media. 

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.  Please note, this only applies to pubs marked with an Asterix *


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