Property Description
Refurbished Premium Local pub in Porthmadog.
The Ship offers a great opportunity for someone who wants to take on a well-backed, refurbished pub with plenty of potential.
What would you do with this pub to make it even more of a success?
The area:
The Ship is located in Porthmadog, North Wales, just on the edge of Snowdonia National Park. It is a historic port town, once the hub for exporting Welsh slate worldwide, and now a popular tourist base with excellent transport links.
There are 1,814 people within a 10-minute walk (1,516 over 18), but the area benefits hugely from seasonal visitors, with hundreds of thousands of tourists flocking to Snowdonia, Cardigan Bay, Pwllheli and Anglesey throughout the year.
Demographics:
The local population is of medium affluence with a more mature age profile. However, the large influx of tourists during the summer and holiday periods significantly boosts potential footfall.
Competition includes around 20 pubs within a mile, though only a handful serve food.
The offer:
The Ship is available on our investment tenancy agreement. Click here for more information on this agreement.
The refurbishment will deliver a fully redecorated and refreshed bar, lounge and toilets, bringing the pub back to the heart of the community. With Sky and BT Sport, local entertainment including quizzes and bingo, plus cask ales, premium lagers, wines and spirits, it will cater to both locals and tourists alike.
We’re always open to new ideas, what would you do to drive trade?
Attitude is more valuable than experience. The right operator for the Ship could be new or experienced but must be able to deliver great homecooked food, while promoting the pub to locals and visitors.
If this sounds like the incredible pub opportunity you’ve been waiting for, apply today and tell us what you can bring to this pub’s next chapter…
The Ship will be undergoing a refurbishment which will cover the bar, lounge and toilets. The function room will remain as is, having been redecorated recently. Externally, no works are planned as the pub benefitted from a full signage and redecoration scheme last year.
A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads.
The pub’s trading area and facilities post refurbishment will be:
Separate bar and lounge
Large function room
76 internal covers
Catering kitchen
HEINEKEN SmartDispense®
Sky and BT Sport
Private accommodation
Applicants should be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process.
Where a significant investment is made in a pub by Star Pubs, an "Investment Exemption" will be required. The exemption means that the option of a Market Rent Option lease won't be available at rent review for a period of up to seven years for this site, as per The Pub Code (2016).
The private accommodation consists of a kitchen, a lounge, two bedrooms, and a bathroom.
Premises license available on request.
Agreement Type
Investment Tenancy
Property Facilities
Refurbishment Planned
Function Room
Kitchen
Live Sports
Private Accommodation
Property Financials
Additional Information
In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs are not included in the rent model or ongoing costs below.
Note that on FRI Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased.
A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors.
The above figures are provided as a guide only and will be finalised as part of the commercial agreement
* All figures quoted are exclusive of VAT
** Deposit build up will be payable over a maximum of 24 months
*** Fixtures and Fittings annual rental fee should be estimated at 15% of the F&F value. The actual F&F value will be determined on the day of entry
**** Maintenance Compliance Charge relates to the fees for various statutory inspections
***** Estimated Legal Fees is a charge applied to your account by SP&B for creation of your Lease. You are required to engage and pay for your own solicitor - your solicitor's fees are not included in the above estimate
* The above figures are provided as a guide only and will be finalised as part of the commercial agreement.
** All figures quoted are exclusive of VAT
The above figures are provided as a guide only and will be finalised as part of the commercial agreement.
All figures quoted are exclusive of VAT
The above figures are provided as a guide only and will be finalised as part of the commercial agreement. All figures quoted are exclusive of VAT.
Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
MISREPRESENTATION ACT 1967
My Hospitality Solutions Ltd advises that the contents of these particulars are believed to be correct and Lessees should satisfy themselves that they are accurate.
The information and images displayed about the properties advertised comprise a property advertisement only. My Hospitality Solutions Ltd is not liable for the accuracy or completeness of the advertisement or any linked or associated information and My Hospitality Solutions Limited has no control over the content.
