tenancy
1 High Street, Portishead, Bristol BS20 6AF, UK
Approx. Total Ingoings
£16,500Annual Rent
£26,000Situated on Portishead High Street, Old Mill is a charming pub set within a beautiful listed building. A historic inn, it is a former tide mill and dates back to the very early nineteenth century, from the days when the waters of the Bristol Channel used to reach up as far as the present day pub. It commands a prime location within the vibrant town and holds a wealth of potential. Being an extensive property the pub boasts a fantastic patio garden and large car park, as well as a balcony terrace and converted skittle alley which serves as a private function room on the first floor. This business opportunity is best suited to an experienced publican as there are a great deal of revenue streams to be explored. Ranging from a quality pub menu alongside a well curated drinks range, to promoting events and functions, and making the most of the lovely garden.
Private Accommodation: Comprising three large bedrooms, a bathroom, living room and a kitchen, the private accommodation is spacious enough for a family.
Indoor trading area
The Old Mill boasts a vast interior spread over two floors, with a great deal of space available to provide a diverse retail offer. The ground floor benefits from a large and effectively zoned layout, with a main bar servery at the high street end of the pub, contemporary furnishings and central wood burner dividing the space. A smaller dining room has its own bar dispense near the disabled access to the first floor. A converted skittle alley serves as a first floor function room, which has its own bar servery and sound system, and is ideal for all manner of parties and events. A real asset to the business is the first floor balcony, which is furnished with tables and chairs, an ideal spot for alfresco dining while looking out over the garden. There is a good size trade kitchen which enables the provision of a quality menu. The pub is well-presented throughout, with brushed steel and natural wood finishes to the décor, and modern furnishings in bright, complementary colours.
Outdoor trading area
In addition to the fantastic beer garden at the rear, which can accommodate around 60 covers, to the front and side of the building is a well presented patio. Overlooking the garden is the first floor balcony and there is ample parking available, with space for around 40 vehicles.
Regional Manager Comments
The Old Mill currently attracts regular drinkers and sports fans, but there is huge potential to attract more custom through the continual development of the food and drink menus to make this pub a destination venue. The opportunity is ideal for an experienced publican who can drive trade with good quality, freshly prepared food, fully utilise the garden and terrace, and capitalise on the first floor function room as a real selling point.
Retail Partnership Tenancy
Live Music Beer Garden Private Accommodation Kitchen Parking Cask Ale Function Room Live Sports Restaurant/Food
Approx. Total Ingoings
£16,500
Annual Rent
£26,000
Potential Turnover: £468,000 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: £26,000 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: £16,500 (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: £18,256 (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.
