tenancy
124 Prince Albert Road, Southsea, Portsmouth, Southsea PO4 9HT, UK
Approx. Total Ingoings
£16,750Annual Rent
£35,000The Eastfield Hotel is one of Portsmouth's most ornate pubs, constructed in 1906 for Portsmouth United Breweries. The pub still retains two distinct bars; a public bar at the front of house and a comfortable lounge bar toward the rear. In addition, there is an attractive small garden and smoking shelter outside. The residential location coincides with a large and loyal clientele, with additional custom provided by fans of Portsmouth Football Club on match days. The new publican would look to involve themselves within the community to expand on the wet led sales.
Private Accommodation: The private accommodation comprises four bedrooms, a bathroom, lounge and kitchen, with separate access to the rear yard and street.
Indoor trading area
The Eastfield Hotel has two separate trading areas, both of which have a grand, fitted bar which complement the traditional décor of this fantastic building. The public bar is very popular with gaming enthusiasts and features a pool table and dart board. This room maintains the traditional décor and is fully carpeted throughout. It can cater for approximately 30 covers and has a mixture of stools, chairs and tables to accommodate guests. The lounge bar has a cosy atmosphere and has seating for around 40 people.
Outdoor trading area
There is a garden at the rear of the pub which provides six benches, offering guests somewhere to relax and enjoy their drinks. In addition, a small covered smoking solution can be found immediately to the rear of the lounge bar.
Regional Manager Comments
The Eastfield Hotel is a local community pub, featuring a range of well-kept cask conditioned ales which attract custom from both the local town and also the surrounding areas of Portsmouth. This business would suit a publican that will develop the wet trade while introducing a basic food offer. This pub is also popular on match days so the publican would need to get behind the Pompey fans who visit the pub.
Retail Partnership Tenancy
Beer Garden Private Accommodation Kitchen Cask Ale
Approx. Total Ingoings
£16,750
Annual Rent
£35,000
Potential Turnover: £388,000 per annum
This is an estimate of the potential annual turnover of the pub business. It does not include the financial benefits of any living accommodation, which you will need to consider.
Guide Rent: £35,000 per annum, payable weekly in advance.
The Proposed Agreement: Retail Partnership Tenancy
The Landlord is prepared to discuss other Partnership agreements.
They will also discuss your purchasing options (Wines, spirits, cask, minerals and flavoured alcoholic beverages) which you can choose all, a combination or none. Tie release fees will apply.
Estimated Capital Start-up: £16,750 (excl VAT)
Often referred to as ingoings. Includes stock & glassware at valuation, deposit, refundable at the end of your agreement dependent upon your account being in good order. Up to 2 weeks rent and other contractual charges will be payable in advance. Please note, the actual deposit payable will be 25% of the final agreed rent.
In addition you will need to provide funds for professional advice and a level of working capital - the amount will be dependent on your business plan.
Estimated Fixtures and Fittings Value: £10,000 (excl VAT)
To be discussed with the Regional Manager.
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Originally formed in 2010 with 333 pubs, Stonegate Group is now the largest pub company in the UK following 12 major acquisitions. Our vast portfolio is now home to over 4,500 sites which range from Leased & Tenanted to Managed. We strongly believe that the pub is at the heart of British culture and we strive to deliver a fantastic customer experience.
