Kasbah Ryde
Kasbah Ryde
Union Street, Isle Of Wight, PO33 2LN Pub Code: 2303284101
Pub Code: 2303284101
Investment TenancyEst. Annual Turnover: £553,868
Annual Rent: £53,418
A refurbishment is planned to spend in the region of £340,000 to transform Kasbah Ryde into a refreshed seaside pub with boutique letting rooms, a simple quality food offer and a strong drinks range. What would you do with this pub to make it a success?
About the area
Kasbah Ryde sits on Union Street in the heart of Ryde, just metres from the pier and waterfront on the Isle of Wight. The pub is well placed to attract strong seasonal trade from tourists visiting the town, as well as local residents and business customers throughout the year. The number of adults within walking distance is not stated in the information supplied and should be confirmed from the demographics report before publication.
The existing customer base includes holidaymakers, people working in the area and local residents looking for a quality pub experience. The refurbishment will reposition Kasbah away from a value-led offer and create a more premium, experience-led venue with a simple food menu, cocktails, gin, coffee, cakes and a strong overnight stay opportunity through its nine en-suite letting rooms.
Ryde benefits from a vibrant hospitality scene, with strong footfall from the seafront, ferry links, tourism and the town centre. The new look and refreshed offer will help Kasbah stand out as a quality pub and accommodation business in a busy coastal location.
The offer
Kasbah Ryde is available on our investment tenancy agreement. Click here for more information on this agreement. Please refer to the Refurbishment Details section for details of the investment being made.
Who we’re looking for
If you’ve benefited from running or owning a pub business, we’d love to hear what experience you can bring. The right operator for Kasbah Ryde will have extensive experience in hospitality businesses with a seasonal customer base. They will have a clear vision for the food and drink menu, guest room occupancy, breakfast trade, coffee and cakes, evening drinks and marketing strategy, and can create a memorable experience for their customers.
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…
Trading Area & Facilities
The refurbishment of Kasbah Ryde will cover both the interior and exterior of the pub. A full list of works and pub floor plan can be found in the Downloads section.
The pub's trading area and facilities post refurbishment will be:
- Bar with capacity for up to 100 guests
- Breakfast and lounge area
- Entertainment area with TV
- Catering kitchen
- Nine en-suite letting rooms
- Guest toilets
- Courtyard garden
- Outdoor furniture
- Heat lamps
- Festoon lighting
- New signage and lighting scheme
- Refurbished Tudor-style façade
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).
Private Accommodation
With our 5 Star Promise, the rent at the start of your agreement is fixed until the end of its initial term.
Indicative entry costs
£60,854
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.
What we're planning & why
Kasbah Ryde is due to receive a planned investment of around £340,000, covering both internal and external refurbishment. The project will transform the pub into a refreshed coastal venue with a new design, upgraded trading spaces, nine redecorated letting rooms and a striking refurbished exterior.
Unlike standard terms for Investment Tenancies, we're offering the option to rent the Fixtures & Fittings for this pub. Ask us for more information!
What’s happening?
The refurbishment will bring a full refresh throughout the venue, including complete internal decoration, new furniture, feature faux-planting and upgraded finishes across the trading spaces.
The bar servery will be improved with a newly decorated bar counter, new ice and glasswash machines, a coffee station and new backfitting with shelving, lighting, tiling and mirrors. This will support a stronger drinks offer, including cocktails and gin, while also helping the pub grow daytime trade through coffee, cakes and lighter food.
The breakfast and lounge area will be upgraded with new curtains, tiling around the chimney breast, feature wallpaper and refinished timber flooring. This space will support breakfast trade for staying guests, then convert back into the main pub trading area for the rest of the day.
The entertainment area will be improved with a new drinks shelf below the TV, a new TV position and a new inner lobby. The kitchen will be decorated and made ready to support a simple, quality food menu, with potential for options such as pizza, light lunches and evening food.
The nine letting bedrooms will be refurbished with new carpets, lighting, blackout curtains, beds, televisions and sockets with USB inserts. Bedroom bathrooms will also be improved with new tiled floors, sinks, vanity units and towel rails. This creates a clear opportunity to maximise accommodation income from tourists, business visitors and short-stay guests.
Externally, the pub will receive a full signage and lighting scheme, along with a refreshed Tudor-style façade. The courtyard will also be improved with redecorated walls, new wall lights, pigeon netting, loose furniture, heat lamps and festoon lighting, creating a more appealing outdoor trading space.
Why invest?
This investment will give Kasbah Ryde a stronger, more defined offer in a high-footfall seaside location. With its refurbished pub spaces, improved exterior, enhanced courtyard and nine upgraded letting rooms, the pub will be well placed to grow income across multiple trading occasions, including breakfasts, coffee, cakes, light lunches, evening food and drink, overnight stays and seasonal tourist trade.
The refurbishment is anticipated to support an estimated annual turnover of £553,868. To explore some of our recent successful pub investment projects, please see our Investment Showcase page.
Location:
Union Street, Isle Of Wight, PO33 2LN
Selected pub
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To apply for this pub or for additional information, please contact us directly
Freephone:
08085 94 95 96
Email us at
enquiries@starpubs.co.uk
Or visit
www.starpubs.co.uk
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