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Prince Albert, Bexleyheath

2 Broadway, Bexleyheath, Kent, DA6 7LE

Located on the Broadway, the Prince Albert is a large wet led pub pub located at the top end of Bexleyheath town in Kent.

Key features

  • Wet and music led pub located in Bexleyheath, Kent
  • Sat directly opposite the council offices on the Broadway
  • Large open plan trade area with feature bar servery
  • Trade kitchen with dumbwaiter 
  • First floor function room/restaurant for approx. 60 covers 
  • Private customer car park
  • Small decked area with seating at back of the property
  • Available immediately if required 

 

Floorplan

THE PRINCE ALBERT

Sat on the Broadway directly opposite the council offices, the Prince Albert boasts a prominent corner plot at the top end of Bexleyheath town in Kent.

Currently trading as a wet only business, the Prince Albert is recognised locally for its great range of live music which takes place every Friday night. Saturday nights offer a mix of DJs and bands and there is also entertainment available most Sunday afternoons from 3pm.

Internally at the Prince Albert there is large, spacious open plan trade area with a feature bar servery creating two drinking areas. Although not currently utilised, there is a good sized trade kitchen on site with a dumb waiter up to the first floor, where you will find a function room/restaurant which can cater for up to sixty seated covers.

Outside there is a small decked seating area to the back of the property together with a private customer car park for approx. 10 cars.

The tenants private accommodation is currently being utilised as letting bedrooms, comprising of 4 bedrooms with a shared bathroom and kitchen. This can easily be reverted back to 3 bed private accommodation with a lounge, kitchen and bathroom if required.

Moving forward, the Prince Albert offers incoming tenants the potential to build on the existing wet trade, with the opportunity to introduce a food offer and utilise the upstairs function room/restaurant.

For more information or to arrange a formal viewing of this site please contact us now on 01795 542132.

BAR & RESTAURANT   

Large open plan trade area with a feature bar servery and space for approx. 60 covers. First floor function room for approx. 60 covers. Large cellar and laundry area in the basement

KITCHEN

Trade kitchen on site with dumbwaiter

OUTDOOR & PARKING

Patio with wooden decked seating area to the back of the property. Customer car parking for approx. 10 cars

PRIVATE ACCOMMODATION

Private accommodation is currently utilised as 4 letting bedrooms with a shared bathroom and kitchen. If utilised as private accommodation layout would be 3 bedrooms, lounge, kitchen and bathroom

Capital Requirements

Estimated capital requirements

Trading deposit£5000
Contract deposit
refundable on day of charge
£500
Repair scheme
+ monthly payments £50
£1000
Inventory£12000
Stock, glassware, cutlery, crockery, etc
Estimated subject to independent valuation by trade broker and stock taker
£2500
Working capital£2500
Training deposit
£750 refundable on completion of training
£1000
Total estimated ingoings£24500

Minimal capital considered

Minimum capital considered
Based on: Trading deposit + stock, glassware, cutlery,
crockery, etc, working capital + training deposits + misc
£12500
Please note: Where only minimal capital is available inventory will be rentalised.

Rent and charges

Rent

Year 1Year 2Year 3
Per anum£33800£34632£35516
Per week£650£666£683

Council tax

Band D

Non Domestic Business Rates

RATEABLE VALUE - £22,500

MULTIPLIER 2019/2020 - 0.491

ESTIMATED RATES PAYABLE - £7,365

  • 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
All beer and cider
Barrels
109 132 134 107
Wine
Gallons
260 383 189 123
PPS
Gallons

Premium packaged spirits (eg WKD)
6 0
Traditional Spirits
Gallons
21 43 56 50
Minerals
Ready to drink litres
1810 3857 4123 3320

Estimated awp profit (Amusement with prizes)

£3,000 per annum approximately 

Licence information

Hours authorised by the premises licence

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

Sunday - Thursday - 10.00 - 00.00
Friday - Saturday - 10.00 - 00.30

Open to the public

Sunday - Thursday - 10.00 - 00.30
Friday - Saturday - 10.00 - 01.00

Live music

Sunday - Thursday - 10.00 - 23.00
Friday - Sunday - 10.00 - 23.00

Agreement Overview

  • This pub is being offered on a traditional rolling tenancy agreement that is subject to a five 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