Skip to content

Globe & Ale House Penzance

1, Queen Street, Penzance, TR18 4BJ

Pub Code: 0091502101

Key Features

  • Cornish Coast Pub
  • Town Centre Location
  • Untapped Potential
  • Cask Ales Range

Est Min Ingoing Costs: £11,113

Annual Rent: £17,912

Apply for this Pub

More Information

Rustic Town Centre Local

Situated in the centre of Penzance, the Globe & Ale House occupies a prominent corner position in a busy tourist town. Surrounded by shops and within walking distance to the beautiful promenade, this pub has the ability to attract a wide customer base ranging from shoppers and town locals to tourists visiting the beautiful Cornish coast.

With an attractive external façade and a rustic internal trading area, the pub currently has a superb reputation for serving a large variety of fine cask ales, beers & ciders. This drinks led, bustling town centre local has the opportunity to attract further guests by expanding on their current offer and offering a simple yet trendy snack menu and a selection of contemporary coffees, wines & spirits. This pub should transform from a calm and relaxing haven for shoppers and tourists by day into an upbeat bar by night. Entertainment and televised sporting events prove very popular at present and should feature significantly in any future business plan.

Passionate Operator Wanted

This would be an ideal opportunity for a passionate operator, to take on a trendy, drinks led, town centre venue that offers live sports and regular weekly entertainment.

  • Foundation Tenancy

  • Live Sports

  • Cask Ale

  • Private Accommodation

  • Weekly Billing

Trading Area & Facilities

Internally, the pub has a homely feel with stripped wooden floors. Exposed ceiling beams and a mixture of fixed and lose seating welcome guests.

Externally, the Globe & Ale House has an attractive lighting and signage scheme, painted in contemporary colours.

Private Accommodation

The private accommodation consists of bedrooms, a kitchen and a lounge.

As part of our Ready to Trade promise, we will ensure that your private accommodation is in a good state of repair so that you can focus your time and energy on your new business.

Premises Licence Details

Please refer to the premises licence for full details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
08:00 -
03:00
08:00 -
03:00
08:00 -
03:00
08:00 -
03:00
08:00 -
03:00
08:00 -
03:00
08:00 -
03:00

Annual Rent £
17,912
Estimated Tenants Annual Operating Profit £
21,511
Representative HEINEKEN UK Brand Discount Per Barrel £
175
Estimated Annual Turnover £
261,235
Estimated Annual Barrelage
188
* 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

Ingoing Costs
Estimated Licensee Fixtures and Fittings Value £
8,000
Estimated Fixtures and Fittings Valuation Fee £
250
Estimated Stock Valuation £
2,000
Deposit Amount £
4,478
Rent in Advance £
344
Training Fee £
425
Estimated Designated Premises Supervisor / Manager Fee £
60
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
20,591
Estimated Minimum Ingoing Costs £
11,113
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.
Other SP&B Ongoing Charges
Estimated Annual Building Insurance £
1,592
Estimated Annual Maintenance Compliance Charge £
1,862
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
4908
Estimated Annual Repairs Fund £
1300
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

Pub Vacancy Alerts

Register now to receive regular email or text updates when new pubs to let come onto the market and get the latest news from Star Pubs & Bars. It’s free and puts you under no obligation.

Register

Want to know more?

To download our no nonsense guide to running your own pub click below.

Download