Red Lion, Penzance

The ideal licensee of The Red Lion in Newlyn will have a warm, steady presence who knows every regular’s favourite pint and every visitor’s name by the time they leave. They need to balance tradition with creativity, keeping the pub’s heritage alive while welcoming fresh ideas that reflect the spirit of the Cornish coast. Their hospitality feels effortless: a calm smile during busy nights, a thoughtful chat on quiet afternoons, and a deep respect for community. They will need to champion local produce, support local artists, and make the pub feel like a trusted anchor in all weather; a place where everyone feels genuinely at home. Serving great food, and keeping great ale is a must.

The Red Lion Inn in Newlyn is a charming, historic pub located at on Fore Street. The building dates from the 18th century, constructed of granite with a slate roof, and is Grade II listed. Its façade is L-shaped, and the interior features a split-level bar, lower-level slate flooring and a mixture of granite, brick and other stone. Newlyn itself is a small fishing town in west Cornwall, on the shore of Mount’s Bay, closely linked with Penzance. It has a population of around 4,400. The community leans older, typical of many coastal Cornish towns, and retains a strong fishing-port identity. The surroundings of the pub are quintessentially Cornish: Fore Street is part of a tight-knit seaside village, with narrow granite buildings, local shops and a vibrant harbour just a short walk away.

Pub Layout

The outlet operates as a single-bar venue with a full catering kitchen. On entering, guests are greeted by a centrally positioned bar that serves all areas of the pub. To the right is a dedicated sports area featuring a pool table, darts oche, wall-mounted TV, and jukebox, ideal for teams and casual drinkers alike. To the left is the first seating area and bar counter, leading up to a higher-level section with an additional servery and more seating. Food is available throughout the premises. The pub offers outstanding views over Newlyn Harbour from its front windows. An alleyway at the rear leads to the ladies’ and gents’ toilets, with a courtyard opposite housing the trade kitchen. Behind the pub is a two-tiered terraced garden with picnic benches and further harbour views. A public car park located beside and behind the property ensures easy access for visitors.

The pub is predominantly wet led with a great range of lagers, cider and ales. A full range of wine, spirits and soft drinks are available. The pub has a locally sourced food offer making the most of the local fishing heritage and is especially famous for the Crab dishes!

Private Accommodation

The private accommodation consists of two double bedrooms, lounge, kitchen, office and bathroom. In addition to this, there is also an ensuite bedsit above the cellar at the other side of the pub courtyard.

Annual Rent:£30,000

Security Deposit: £5,000 or the equivalent of three months’ rent, whichever is greater

Working Capital: £5,000

Stock: £3,000

Business Rates: £Nil.  Based on the April 2023 rating list, the Zero Rates Payable is based on small business rates relief being applied for by the licensee and the licensee only occupying one property for commercial purposes.

Fixtures and Fittings: £10,000, 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.

For a breakdown on financial information, please refer to the ‘Additional Info’ tab.

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 – A security deposit is required when applying for a pub with Admiral.  This will be the greater of £5,000 or three months’ headline rent. The deposit is held on your account and returned when you leave, subject to your final account balance and the condition of the property.  We will also carry out a credit check as part of your application, which may affect the deposit amount required.

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 – £350.00 – Before signing a long term agreement, you will be required to attend our 7 Steps to Sales Success training programme.  Held online over two days, you will learn marketing and business strategies that will help you to grow sales in your pub – step-by-step.

Service Charge Cost – £63.33 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 for by the licensee and the licensee only occupying one property for commercial purposes.  Please note, this only applies to pubs marked with an Asterix *