Food Preparation Area
3+ Private Bedrooms
The Prince of Wales is a traditional estate pub located on Wallbridge Drive in Leek, Staffordshire nestled nicely in amongst an abundance of chimney pots and local businesses. Leek is a market town and civil parish in the county of Staffordshire on the River Churnet. It is situated about 10 miles (16 km) north east of Stoke-on-Trent and has a population of approximately 21,000.
The main entrance leads you into a spacious one room operation, which is split into two trading areas, which is serviced by one central bar. There is a relaxed seating area, raised from the main trading space which has a mixture of fixed and loose tables and seating. The main trading space has an array of fixed and loose furniture and leads through to a games area housing two league size pool tables attracting in league teams. Externally there is a car park for approximately 10 vehicles.
The Prince of Wales is predominately wet led with the potential for a simple food offer. The communal aspect of this site is key given it’s location. There should be a strong rhythm of the week which is marketed well to engage with the locals. This should be demonstrated in the way of themed nights, karaoke, quiz, meat raffles and darts and pool nights.
The private accommodation consists of: Three bedrooms, bathroom lounge and kitchen which is accessed separately from the pub.
Annual Rent: TBC
*£50 a week rent for 6 weeks. Rent steps to be discussed with BDM.
Security Deposit: £1,000
Working Capital: £500
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.
Admiral Taverns are looking for a strong licensee (s) who has good knowledge of the local area and willing to immerse themselves into the pub, making the Prince of Wales the heartbeat of the estate. The ideal licensee will create a retail offer that attracts a range of different demographics, a great product range and excellent standards. Strong marketing will be key.
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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