The pub occupies a corner plot in Hove and is a short walk away from the Seven Dials area and is surrounded by a mix of flats and houses and is surrounded by several schools. The pub has been in the current vendor’s ownership since 2019 and during this time has created an excellent goodwill and repeat trade. The pub runs a popular weekly quiz night and Sunday roasts. They have received excellent reviews on Trip advisor (4.5*), Facebook (4.8*) and Google reviews (4.5*). The business now only comes to the market due to the vendors wish to focus on other business opportunities.
THE PREMISES: The pub has seating for 56 covers inside, with a further There are several seating areas throughout the ground floor with the bar being in the centre of the premise. The vendors have confirmed that all fixtures and fittings, apart from the coffee machine and grinder will be included in the sale. There are also separate male and female toilets located on the ground floor. The kitchen is located adjacent to the bar and has been fitted to a high standard with full commercial extraction and comes to the market with a wealth of trade fixture and fittings. The beer cellar is fitted with Heineken new ‘smart dispense’. Just off the kitchen is also a small office which includes the safe and access to the CCTV monitors. The building is fitted with CCTV and an alarm system throughout. The pub also has a yard area at the rear which is ideal for deliveries and bin storage.
ALCOHOL LICENCE: The premises licence allows for the following –
Sale by Retail of Alcohol times:
11:00:00 – 00:00:00 Friday
11:00:00 – 23:00:00 Monday-Thursday
11:00:00 – 00:00:00 Saturday
11:00:00 – 23:00:00 Sunday
TURNOVER: The pub currently trades Tuesday-Thursday 5pm-11pm, Friday 4-12am, 12pm-12am on Saturday and 12pm-10pm on Sundays. The pub kitchen has previously been sublet and the vendor has agreed 13.5% of the turnover, by way of a rent. The current weekly turnover is approximately £6,830 per week. The business is currently run under management and the current staff is made up of one full time manager, 2 full time bar staff.
TENURE: The premises is held on a full repairing and insuring 15-year lease at a current rental of £30,000 per annum (excluding VAT) and has 10 years currently remaining. The lease has the protection of the 1954 Landlord and Tenant Act.
RATES: We have been verbally informed that the current rates payable at present are £220 per month, as the premises is benefiting from the small business rate relief scheme. The rateable value for the property is £14,000 per annum. Prospective occupiers should make their own enquiries to verify same.
GENERAL REMARKS: The business was personally inspected by the vendors sole selling agents and was found to be very well presented. Well-equipped to the trade. Points to Consider: Secure lease. Fully fitted commercial kitchen. Located in an affluent area. Premises has a high footfall throughout the year. Versatile site.
PRICE: We are instructed to quote for the lease, goodwill, premises licence, equipment, trade fixtures and fittings £20,000 SAV Price reduction Quick Sale
LEGAL FEES: Each party to be responsible for their own legal costs.
VIEWING: On no account should any approach be made to the Manager or the staff without a prior appointment through the vendor’s agents, Watkins Commercial, Telephone: 01273 709090.
ENERGY PERFORMANCE CERTIFICATE: The premises has been rated a band C and the full report is available upon request.
DISCLAIMER: Neither the Vendor nor the Agent gives or implies any warranty that the premises are fit for any particular use or that they comply with any relevant regulation or statutory requirement.
The agents have not tested any apparatus, equipment, fittings or services so cannot verify that they are in working order. The buyer is advised to obtain verification from their solicitor or surveyor before proceeding with the purchase.
VAT: All prices and rents are quoted exclusive of VAT. Any intending purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction.
MORTGAGE & FINANCIAL PLANNING: We shall be pleased to assist any purchaser in arranging finance to acquire this business or any other business you may be considering subject to status.
Prop. Ref: 6788C
These particulars are believed to be correct but their accuracy is not guaranteed and they do not form any part of any contract
APPLICANTS CONFIDENTIALITY AGREEMENT
I understand and agree that any information regarding any business supplied to by Watkins Commercial will be kept strictly confidential. I also undertake that I will:
i) View businesses registered with Watkins Commercial by appointment only.
ii) Not contact any owner, staff, suppliers, competitors or customers of any business registered with Watkins Commercial
iii) Not pass on any information supplied by Watkins Commercial to any third party other than a professional advisor et. Bank, solicitor, surveyor accountant, etc.
iv) Submit any offers direct to Watkins Commercial with whom I will conduct all negotiations
v) Be liable for any commission which would have been due to Watkins Commercial should I be party to negotiations or actions which seek to preclude, or are contrary to the interest of Watkins Commercia
