Run an Admiral Pub, Windsor Castle, Southampton

Overview Please note: Applicants must be prepared to invest financially in taking on and running this pub. To understand the level of investment required, please review the financial section. The Windsor Castle is a large building situated on a corner plot and faces on to Shirley high street within a small precinct of shops and next to a large Sainsbury store attracting significant customers throughout trading hours. There is a wealth of small businesses, residential shops and facilities in the immediate vicinity that attract people to the area from much further afield. Shirley is one of the largest areas in Southampton with a dense residential population of around 14,000. The local market runs weekly on a Thursday, directly outside the Windsor Castle again offering another weekly event in the area attracting footfall from all over Southampton. The site also benefits from a street license to the front of the property which provides a great area for customers to enjoy the busy street ambiance. Pub Layout The pub is open plan with a horse shoe style bar surrounding a large bar area. There is a raised area on the right of the bar that is a great location for the live music and entertainment. On the left of the bar is a community area with a pool table and darts board. There is an enclosed courtyard to the rear of the pub that is easily accessible from the pub. There is a small kitchen located directly behind the bar servery that is capable of delivering a varied pub menu due to the proximity to the bar this could be managed by bar staff. Trading Style The Windsor Castle has a strong community feel and is well supported by its loyal customer base as well as a high amount of passing trade and a large residential area surrounding the pub. The pub has historically done well with charity based and community events off their own accord and also participating in events within the town centre. Admiral are supporting the Windsor Castle with the ability to compete with the low Retail Selling Prices offered by some of the local competitors but the Windsor Castle is a much better positioned and with a greater range of services, events and brand offerings the Windsor Castle will be the number one destination in Shirley. The pub is has a strong trading pattern throughout lunch, evenings and weekends. Customers frequent the pub from the local community even attracting custom from slightly further a field for the weekend entertainment. It is home to several pool and darts teams that play weekly and are well established in the local leagues. The pub and licensee accommodation are well presented. Accommodation The private accommodation is located on the first floor and accessed independently from the trading areas from the pub. This consists of four bedrooms, lounge, kitchen and bathroom which are all in good order. Financial Annual Rent: £21,750 Security Deposit: £5,000 or the equivalent of three months’ rent, whichever is greater. Working Capital: £2,000 Stock: £2,500 Fixtures and Fittings: To be confirmed upon valuation–funding options may be available for the right licensee. Tie: All drinks categories are tied. For fully funded licensees on long term agreements, we offer free-of-tie options for certain drinks categories in exchange for an annual fee. For a breakdown on financial information, please refer to the ‘Additional Info’ tab. BDM Vision Admiral Taverns are looking for a passionate and focused licensee to build on the existing business and further develop the wet and dry income streams. You will need to develop the entertainment programme to maximise the trade and with the pub benefitting from a catering kitchen directly to the rear of the bar servery, there is a significant opportunity to launch and grow a good quality pub grub food offer. There will be the opportunity to encompass a full external refurbishment at the Windsor with the right licensee on conversion to a Long Term Agreement. Additional Information Annual Rent – This is our lowest rent figure associated with a Full Tie. If the tie is reduced the effective rent (via Tie Release Fees) will increase. Rent is billed and paid for weekly in advance depending on the payment terms agreed). On occasion, our Business Development Manager will discuss a start up rent which is discretionary to an individual pub and can be discussed. Security Deposit – A security deposit is required when applying for a pub with Admiral. This will be the greater of £5,000 or three months’ headline rent. The deposit is held on your account and returned when you leave, subject to your final account balance and the condition of the property. We will also carry out a credit check as part of your application, which may affect the deposit amount required. Working Capital – This is a recommend amount required which will be used in the day-to-day running of the business. Stock – This will be valued by an independent valuer on the day you take over the pub. This includes unbranded glassware, unopened bottles, wines, spirits, any unopened / opened kegs and cask ale providing the container is unopened. Fixtures & Fittings – This includes any item that is bolted to the floor or walls, and a fitting to be any item that is free standing or hung by a nail or hook. This will also include furniture. Tie: All drinks categories are tied. For fully funded licensees on long term agreements, we offer free-of-tie options for certain drinks categories in exchange for an annual fee. Training – £350.00 – Before signing a long term agreement, you will be required to attend our 7 Steps to Sales Success training programme. Held online over two days, you will learn marketing and business strategies that will help you to grow sales in your pub – step-by-step. Service Charge Cost – £63.33 per week – The Admiral Taverns Premium Maintenance Package will help take care of your compliance and statutory obligations with one simple fee, whilst giving you piece of mind about your boiler and cellar cooling repair and replacement. This also includes full access to e-learning for you and your staff. *Zero Business Rates – Based on the April 2023 rating list, the Nil Rates Payable is based on small business rates relief being applied for by the licensee and the licensee only occupying one property for commercial purposes. Please note, this only applies to pubs marked with an Asterix * #J-18808-Ljbffr