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Kasbah Ryde
Kasbah Ryde
Union Street, Isle Of Wight, PO33 2LN Pub Code: 2303284101
Pub Code: 2303284101
Investment TenancyEst Min Ingoing Costs: £60,854
Annual Rent: £53,418
Isle of Wight Opportunity
Due to receive an incredible £340k investment from Star Pubs, The Kasbah is a rare business opportunity on the renowned, bustling Isle of Wight. Located just meters from the pier and waterfront, in the heart of the seaside town of Ryde, the pub attracts a huge number of tourists in the summertime and festival season. As a result, Kasbah appeals to both seasonal trade and also a steady local trade from the residents of the town.
With a revamped, striking Tudor style façade, the pub will showcase a brand new design and theme that will attract a new clientele to the venue. Staying away from a value offer, it will instead give customers a great experience, with a simple food menu complemented by a great drinks offer, which will include cocktails and a gin range. The Kasbah also boasts nine, en-suite guest rooms.
Innovative Entrepreneur Wanted
Would you suit this pub? The ideal operator is preferably someone who understands the local area and can demonstrate previous experience of working with a seasonal customer base. The ability to demonstrate how to maximise occupancy in the guest rooms is required in addition to a robust business plan.
Due to receive an incredible £340k investment from Star Pubs, The Kasbah is a rare business opportunity on the renowned, bustling Isle of Wight. Located just meters from the pier and waterfront, in the heart of the seaside town of Ryde, the pub attracts a huge number of tourists in the summertime and festival season. As a result, Kasbah appeals to both seasonal trade and also a steady local trade from the residents of the town.
With a revamped, striking Tudor style façade, the pub will showcase a brand new design and theme that will attract a new clientele to the venue. Staying away from a value offer, it will instead give customers a great experience, with a simple food menu complemented by a great drinks offer, which will include cocktails and a gin range. The Kasbah also boasts nine, en-suite guest rooms.
Innovative Entrepreneur Wanted
Would you suit this pub? The ideal operator is preferably someone who understands the local area and can demonstrate previous experience of working with a seasonal customer base. The ability to demonstrate how to maximise occupancy in the guest rooms is required in addition to a robust business plan.
Trading Area & Facilities
Internally, the bar which has capacity for up to 100 guests. Significant changes will be made to each trading space and these works include:
Outside to the front, the striking Tudor façade will be fully renovated with a new colour and lighting scheme. To the rear, the courtyard garden will have the following works completed:
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).
- Complete decoration throughout, including ceilings and timber work
- New furniture in every trading area
- New feature faux-planting, internally and externally
- The commercial kitchen will be revised and works will be made to ensure it is compliant
- The guest toilets will be re-tiled and revamped throughout
Outside to the front, the striking Tudor façade will be fully renovated with a new colour and lighting scheme. To the rear, the courtyard garden will have the following works completed:
- Redecoration to all walls
- New wall lights & festoon lighting
- New loose furniture
- New heat lamps
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
There is no private accommodation at this site.
Estimated Total Ingoing Costs
£60,854
Estimated Minimum Ingoing Costs
£60,854
Annual Rent
£53,418
Estimated Annual Turnover
£553,868
Deposit
£13,354
Estimated Fixtures & Fittings Value
£39,000
Estimated Stock Valuation
£5,000
Estimated Working Capital
£3,500
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.
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.
Location:
Union Street, Isle Of Wight, PO33 2LN
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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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