Prince of Wales, Ampthill
Pub Details
24 Bedford St, Ampthill, Bedford, MK45 2NB
Destination community wet
Ingoing Costs : £27,500
Pub Rent: £35,500
About the Pub
Enjoying a prime location in the heart of affluent Ampthill, the Prince of Wales is a beautiful red brick town inn with an enduring reputation for great hospitality. The pub is made up of a dining area for up to 40 people and a comfy lounge area with additional 12 covers. The bar is central and supports both areas with the main servery located in the lounge. The garden overlooks the car park and main road with two tiers.
The accommodation includes 4 ensuite letting rooms. The Prince of Wales enjoys considerable footfall as a key landmark on Ampthill’s busy high street. Furthermore, with easy access to the M1 and Milton Keynes just a short drive away, there exists considerable potential to build on the site’s already strong reputation as a destination community dining venue.
The Prince of Wales has a fair maintainable turnover of £485,290 net per annum with a 47/41/12 spilt wet/ dry/ accommodation while sustaining a £35,500 rent.
Key Highlights
Large detached listed character property in the heart of Ampthill
4 ensuite letting rooms
Warm attractive trade areas consisting of a bar and separate restaurant area
Main road position with car parking for up to 8 cars
Very strong current trading performance
Suitable Applicants
The Prince of Wales has much to offer operators with the background and vision to take full advantage of its strong reputation, great location and inviting look and feel. Experience of operating letting rooms and a busy food-led business is essential, while the skillset to develop and market bespoke lunch and evening menus will create new opportunities for the business. Strong commercial and financial skills are required, complemented by a passion for providing fantastic hospitality.
Financial Overview
Security Deposit
Payable in advance to Wells to cover charges incurred by your business. If your business is to operate as a limited company a bond of £10,000 is required together with a personal guarantee for all directors£10,000
Valuers Fees
In the region of( paid to valuer) for valuing fixtures and fittings£500
Advance Rent
In the region of (usually 1 month)£2,958
Fixtures and Fittings
“Estimated” valuation to purchase e.g. carpets, curtains, tables and chairs, kitchen equipment£25,000
Stock and Glassware
In the region of (paid to the outgoing licensee on the day of changeover) to cover the value of opening stock£3,000
Administration Fee
In the region of (payable to Wells & Co. Ltd in advance) to cover e.g. premises license changes, solicitors fees, and agreement£430
Working Capital
Minimum working capital required£10,000
APPROXIMATE TOTAL
Please note that these are estimated figures, given as a guide only, and do not include fixtures and fittings£27,500
Anticipated Retained Income
Wet 47%
Dry 41%
Accom 12%
Ongoing Costs
Service Charge
Payable monthly, to include: Cellar cooling service, Buildings insurance, Fire Compliance, Boiler maintenance (tenancies only). NICEIC Electrical Test (tenancies only) and premises licence renewal fee£5,200 p/a
Stocktaking Services
Six professional stocktakes per annum£1,472 p/a
Accountancy Services
Fees for a nominated accountant (payable monthly)£4,900 p/a
Rent
In the region of (payable monthly in advance)£35,500 p/a
Dilapidations
Service Charge applicable to all Tenancy agreements. Funds will be collected through the whole agreement and will be drawn down to fund tenant works/decorations£80 p/m
It all starts with a vision.
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If you’re passionate, willing to learn and have a strong desire to serve your community, you’re definitely in the right place.
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Support & Training
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