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Prince of Wales, Kennington, London

Cleaver Square, Kennington, London, SE11 4EA

The Prince of Wales is a charming, traditional style pub located on leafy Cleaver Square in Kennington, South London.

Key features

  • Available June 2019
  • Traditional style pub in Kennington, London
  • Located in an affluent, residential area 
  • Close by to Kennington and Oval tube stations 
  • Open plan trade area with a feature bar servery 
  • Well equipped trade kitchen on site
  • 2 bed private accommodation

 

Floorplan

THE PRINCE OF WALES 

The Prince of Wales is a charming, traditional style pub located on leafy Cleaver Square in Kennington, South London.

Set in an affluent and family orientated area, the Prince of Wales overlooks a beautiful Georgian square and has a small seating area to the front of the pub allowing you to relax outside with a drink during the warmer months. You can even hire the pubs Petanque set and play your friends in the square! Due to its close proximity to Kennington and Oval tube stations, you will also see an influx of customers on match days that are heading down to the Oval.

Internally at the Prince of Wales you will find a u-shaped open plan drinking and dining area with a feature bar servery and there is a good sized and well equipped trade kitchen on site.

With a broad selection of Shepherd Neame beers and wines available, the pub attracts those that have an appreciation for exceptionally well kept ales and there is a small but freshly prepared menu available during limited hours seven days a week.

Available in June 2019, the Prince of Wales is now looking for new experienced operators that can maximise on the huge business potential that this site to offer.

For more information or to arrange a formal viewing of the pub please call the Trade Recruitment Co-ordinator now on 01795 542132.

BAR & RESTAURANT   

Open plan u-shaped trade area with a feature bar servery

KITCHEN

Good sized and fully equipped trade kitchen

OUTDOOR & PARKING

N/A

PRIVATE ACCOMMODATION

Set out over two floors and includes 1 single and 1 double bedroom, an open plan kitchen and lounge, a bathroom and WC

Capital Requirements

Estimated capital requirements

Trading deposit£7500
Contract deposit
refundable on day of charge
£500
Repair scheme
+ monthly payments £50
£1000
Inventory£17000
Stock, glassware, cutlery, crockery, etc
Estimated subject to independent valuation by trade broker and stock taker
£5000
Working capital£2500
Training deposit
£750 refundable on completion of training
£1000
Total estimated ingoings£34500

Minimal capital considered

Minimum capital considered
Based on: Trading deposit + stock, glassware, cutlery,
crockery, etc, working capital + training deposits + misc
£
Please note: Where only minimal capital is available inventory will be rentalised.

Rent and charges

Rent

Year 1Year 2Year 3
Per anum£31200£32396£33644
Per week£600£623£647

Council tax

Band C

Non Domestic Business Rates

RATEABLE VALUE - £37,000

MULTIPLIER 2019/2020 - 0.493

ESTIMATED RATES PAYABLE - £12,111

  • As at the time of publishing, the estimated rates payable, are based upon the assumption that the tenant occupies the maximum of one pub and therefore qualifies for small business rates relief
  • We have also applied the relevant multipliers and estimated transitional relief where applicable
  • Retail relief has been applied to all pubs with a rateable value of £51,000 or less. This entitles the occupier to a third reduction in rates payable after all other reliefs and will run for the 2019/20 and 2020/21 rating years. This is an assumption that should be confirmed with the local authority
  • The above calculations are estimations only and as rateable values are  subject to change, we would request that the prospective new  tenant checks the rates payable and any other relief with the local authorities prior to completing a financial plan

 

Trading information

Trade

Year ending 30 June

2016 2017 2018 2019 (Jun 18 - Jan 19)
All beer and cider
Barrels
205 202 185 97
Wine
Gallons
648 538 528 270
PPS
Gallons

Premium packaged spirits (eg WKD)
21 19 19 2
Traditional Spirits
Gallons
55 55 57 27
Minerals
Ready to drink litres
3225 3112 3022 1442

Estimated food turnover

£700 per week approximately

Shepherd Neame has no access to the tenant's food turnover figures. Please note this figure is estimated as accurately as possible at time of publishing.

Licence information

Hours authorised by the premises licence

Supply of alcohol, background music and provision of late night refreshment.

Monday - Sunday - 09.00 - 23.00
Sunday - 09.00 - 22.30

Open to the public

Monday - Sunday - 09.00 - 23.30

Agreement Overview

  • This pub is being offered on a traditional rolling tenancy agreement that is subject to a three year rent review
  • This agreement is covered by the ‘Landlord & Tenant Act’
  • This is a fully tied agreement across all beer, cider, wine, PPS, spirits and minerals
  • Any deviation from the standard terms outlined above should be discussed at interview stage with your designated Business Development Manager
  • Please note that we require all licensees to pass the Pre-Entry Awareness Training Course (PEAT) a minimum of five days before you can attend a formal shortlist interview with us. Please ask us for more information about PEAT if required
  • You can see our code of practice at the top of this page