Prince Albert Whitstable

Sea Street, Whitstable CT5 1AN

  • Prince Albert Whitstable
  • Prince Albert Whitstable
  • Prince Albert Whitstable
  • Prince Albert Whitstable
  • Prince Albert Whitstable

Prince Albert Whitstable

Refurbishment planned!

The Prince Albert is situated on one of the main streets, close to the beach in the town of Whitstable. It is an affluent and bohemian town, which attracts a high volume of visitors all year round. With its seafront location and surrounded by shops and other amenities, The Prince Albert is in a strong position to attract locals and tourists alike.

An exciting refurbishment will transform The Prince Albert into a modern bar while maintaining its traditional ambience. The refurbishment will involve a complete transformation of the current space, doubling the existing trading space with an extension. A total redecoration will create a quirky and eclectric vibe, with new and improved facilities to further improve the offering. The changes will ensure the bar appeals to a new, wider demographic who are looking for a trendy, relaxed pub with a great range of drinks and a local food offering.
Currently, The Prince Albert operates predominantly as a wet led outlet. The incoming lessee will be able to capitalise and expand on this. The complete refurbishment will transform The Prince Albert into a stylish, bespoke pub, where customers can enjoy craft beer and delicious wine, as well as a small but delicious local food offering. This combination will ensure the pub stands out from its largely traditional competitors.


Experienced Innovative Operator Wanted

We are ideally looking for an operator who can share our vision to transform this pub whilst bringing their own flair and ideas to make the most of this opportunity. We would therefore be looking for someone with experience within the trade.

Pub Features

  • Rolling Tenancy
  • Refurbishment Planned
  • Catering Kitchen
  • Outdoor Trade
  • Private Accommodation
  • Cask Ale
  • Weekly Billing

Trading Area & Facilities

The refurbishment will involve a complete transformation of the current space, doubling the existing trading space with an extension. There is a kitchen on site that will provide a small, quality, local food offering.

The small outdoor courtyard at the rear of the venue will be retained and refurbished in line with the pub's new offering to create an attractive space for customers to enjoy al fresco drinks during the warmer months.

Please see the refurbishment pack for more details.

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 & Bars, 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

The private accommodation at The Prince Albert consists of two bedrooms, a kitchen and living room area and a bathroom. In line with our 'Ready To Trade Promise', should any works be required, we will ensure your private accommodation is in good order so that you can focus your energy on getting the business right.

Premises Licence Details

See premise license for full details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
11:00 - 23:30 11:00 - 23:30 11:00 - 23:30 11:00 - 00:30 11:00 - 00:30 11:00 - 00:30 11:00 - 23:00

Financials

Annual Rent £
44,000
Estimated Annual FMOP (Licensee Profit) £
44,689
Representative HEINEKEN UK Brand Discount Per Barrel £
100
Estimated Annual Turnover £
382,900
Estimated Annual Barrelage
200

The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details).

Historical volume figures may not include purchases made through 3rd Parties.

** All figures quoted are exclusive of VAT

*** FMOP = Fair Maintainable Operating Profit

Investment

Ingoing Costs
Estimated Licensee Fixtures & Fittings Value £
40,000
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
5,000
Deposit Amount £
11,000
Rent In Advance £
846
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
60
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
59,041
Estimated Minimum Ingoing Costs £
59,041

In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.

The Estimated Licensee Fixtures & Fittings (F&F) Value assumes that the pub will be let on a Rolling Tenancy or Business Start-Up Agreement, where we own the majority of the F&F. The F&F Value for Full Repairing & Insuring Leases will be significantly more.

The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent or £3,000 (whichever is greater) 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.

Other SP&B Ongoing Charges
Estimated Annual Buildings Insurance £
1,239
Estimated Annual Maintenance Compliance Charge £
TBC
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
6,108

The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details)

* 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 assume that rent is billed weekly in advance and that Star Pubs & Bars retain ownership of large fixtures and fittings. Initial costs for a Fully Repairing and Insuring lease will be higher as rent is invoiced monthly in advance and all fixtures and fittings must be purchased