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The star is a well-placed traditional community pub located in a prime spot on the High Street in Ryde on the Isle of Wight. Ryde is located on the east of the Isle of Wight and is easily accessible from Portsmouth by Hovercraft in 10 minutes or by fast cat in 22 minutes. There are several other services to get onto the Island, but these run direct into Ryde. The pub is surrounded by retail outlets with a high level of footfall. The Star presents itself as an exciting opportunity with investment planned from Admiral Taverns.
You enter the pub from the front of the building into an area with fixed and loose seating. The bar servery is along the side wall with further seating to the front. The end of the pub is a hard floor area that houses the darts board and loose seating. The pub has an established cask ale trade which is proving popular. The entertainment consists of acoustic Thursday, monthly quiz and regular in house competitions. To the rear of the building are the toilets and a small covered area used as a smoking solution. There is an office located on the ground floor and the cellar is in the basement.
The pub is 100% drinks orientated as there is no kitchen facility. The pub has done rolls and hot pies in the past which have been well received and a small back bar food offering would be beneficial. The pub has recently re-launched its drinks products with cask ales along with tapping into the ever-growing gin market which has seen an increase in customers using the Star. The pub benefits from in-house competitions such as chase the ace and monthly quiz nights. The pub is located within walking distance of the Hovercraft where you can arrive on the Isle of White in ten minutes from Southsea. Ryde benefits from a boost in the summer with tourists with annual island activities including the scooter rally and Ryde carnival adding a great income to the pub. The street license to the front of the property allows customers to soak up the atmosphere from passers by.
Annual Rent: £11,500
Security Deposit: £3,000
Working Capital: £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 licensee accommodation above the pub is located over two floors. First floor comprises of a lounge, kitchen, toilet, bedroom and one other room that was once a bathroom. The second floor comprises of a bathroom, kitchen, lounge and two bedrooms.
As part of the refurbishment works Admiral will be completing extensive works in this area including a new kitchen with decoration and carpets. This accommodation is no longer two flats and cannot be sublet out. This is only available as accommodation to the licensee.
I am looking for a community focused licensee who is familiar with the island. You will need to embrace community life, a strong rhythm of the week and making use of social media will encourage visiting tourists and locals. We are looking to invest in this great pub with new signage and decoration including the ladies and gents toilets and the private accommodation.
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.