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Prince of Wales, Herne Bay

173 Mortimer Street, Herne Bay, Kent, CT6 5DS

The Prince of Wales is a large wet only Victorian pub located just yards away from Herne Bay beachfront and the main high street.

Key features

  • Large Victorian property boasting original features
  • Community wet and sports led operation available for the first time in 19 years
  • Just yards from Herne Bay seafront and the main high street
  • U-shape trade area with feature bar servery, snug and function room
  • Domestic kitchen only 
  • Private accommodation includes nine bedrooms set out over two floors
  • Small courtyard garden with wooden gazebo
  • Private garage for storage 
  • Car parking for 2 spaces
  • Available quickly for the right applicants 

Floorplan

The Prince of Wales is a large Victorian pub located just yards away from Herne Bay seafront and the town’s main high street. Having been operated as a wet only business by one family for the last 19 years, the Prince of Wales offers a warm, friendly and homely feel and it is much loved by its diverse range of customers.

 There is always something going on at the Prince of Wales to keep people interested and open from 10am midweek, it has a good daytime and afternoon trade frequented daily by its loyal locals. The pubs six large TVs and the showing of SKY sports makes the Prince of Wales popular amongst the sports lovers and it is home to a range of men’s and women’s darts and pool teams that meet at the pub on a weekly basis. Live music is also a hit in the area and you will find a different band at the pub once a month.

 The Prince of Wales has been lovingly restored to its former glory in the last few years, retaining original features such as tiled Victorian fireplaces, marble mantle places and etched glass. Internally it has a large airy feel and includes a feature bar servery with open plan trade drinking space, a cosy snug area with comfortable armchair seating and a large multifunctional room that is used as the pool and darts area come function room for approx. 40 covers. 

 The pub boasts vast private accommodation set out over two floors and includes nine double bedrooms with sinks in and two shared bathrooms. The private accommodation is currently utilised as long term letting bedrooms by the existing tenants.

 Outside at the Prince of Wales you will find a small courtyard garden with a wooden gazebo, a large private garage currently utilised as storage space and there is room for two private car parking spaces.

 Due to retirement, we are now looking for new tenants to take over the successful running of the Prince of Wales and for the right applicants there is the potential for the pub to be available quickly. For more information or to arrange a formal viewing please contact the Trade Recruitment Co-ordinator now on 01795 542132.

BAR & RESTAURANT

Large open plan U-shape trade area, cosy snug with armchair seating and large pool and darts room/private function room with an open fire place for approx. 40 covers

KITCHEN

Domestic kitchen only on the ground floor

OUTDOOR & PARKING

Small courtyard to the back of the property with a  wooden gazebo. Large private garage for storage and 2 car parking spaces

PRIVATE ACCOMMODATION

9 bed private accommodation is currently utilised as long term letting accommodation and all bedrooms contain a sink.

 First floor - 3 double bedrooms, 1 large bedroom/self contained flat and 1 shared bathroom

Second floor - 5 double bedrooms and shared bathroom

Capital Requirements

Estimated capital requirements

Trading deposit£7500
Contract deposit
refundable on day of charge
£500
Repair scheme
+ monthly payments £50
£1000
Inventory£20000
Stock, glassware, cutlery, crockery, etc
Estimated subject to independent valuation by trade broker and stock taker
£2500
Working capital£4000
Training deposit
£750 refundable on completion of training
£1000
Total estimated ingoings£36500

Minimal capital considered

Minimum capital considered
Based on: Trading deposit + stock, glassware, cutlery,
crockery, etc, working capital + training deposits + misc
£16500
Please note: Where only minimal capital is available inventory will be rentalised.

Rent and charges

Rent

Year 1Year 2Year 3
Per anum£31200£31824£32500
Per week£600£612£625

Council tax

Band A

Non Domestic Business Rates

RATEABLE VALUE - £29,000

MULTIPLIER - 0.499

ESTIMATED RATES PAYABLE - £0

NOTE: 

  • Retail relief has been increased to 100 % for the hospitality industry between 1st April 2020 to 31st March 2021
  • 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

2020 219 2018 2017
All beer and cider
Barrels
171 250 256 268
Wine
Gallons
87 114 170 183
PPS
Gallons

Premium packaged spirits (eg WKD)
Traditional Spirits
Gallons
55 78 80 86
Minerals
Ready to drink litres
2158 3279 3521 3871

Estimated awp profit (Amusement with prizes)

£4,500 per annum approximately 

Licence information

Hours authorised by the premises licence

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

Monday - Thursday - 10:00 - 00:30
Friday - Saturday - 10.00 - 01.00
Sunday - 10.00 - 00.00

Open to the public

Monday - Thursday - 10.00 - 01.00
Friday - Saturday - 10:00 - 01:30
Sunday - 10.00 - 00.30

Live music

Monday - Thursday - 10.00 - 00.30
Friday - Saturday - 10.00 - 01.00
Sunday - 10.00 - 00.00

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