- Large detached listed character property in the heart of Ampthill, Bedfordshire with 2-bed private accommodation
- 5 en-suite letting rooms
- Popular garden areas ideal for alfresco dinning
- Warm attractive trade areas consisting of a bar and separate restaurant area
- Main road position with car parking for up to 8 cars
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. Between its welcoming traditional interior and extensive two-tier garden, the pub accommodates up to 70 diners, with five individually designed en-suite rooms adding to its earning potential.
The Prince of Wales enjoys considerable footfall as a key landmark on Ampthill’s busy high street, bolstered by a large supermarket adjacent to the pub. Furthermore, with easy access to the M1 and the population of Bedford & Milton Keynes just a short drive away, there exists considerable potential to build on the site’s already strong reputation as a destination dining venue.
The Prince of Wales has the potential to reach a fair maintainable turnover of £411,206 net per annum with a 33/50/17 spilt wet/dry/accommodation while sustaining a £35,000 rent.
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.
ANTICIPATED INVESTMENT REQUIRED
We estimate the Investment required for this pub would be as follows:
|APPROXIMATE TOTAL Please note that these are estimated figures, given as a guide only, and do not include fixtures and fittings.||24,666|
|Security Deposit Approximate figure, paid in advance to Wells & Co. Ltd held to cover credit and rental charges. Returnable at the end of the agreement. Note - If the business is to be run as a limited company, personal guarantors from each company director are required.||9,000|
|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|
|Valuers Fees In the region of( paid to valuer) for valuing fixtures and fittings.Minimum working capital required||800|
|Training Course Fees Per person (payable to Wells & Co. Ltd) 5 day induction course mandatory for all licensees – NB £800 for two people||550|
|Administration Fee In the region of (payable to Wells & Co. Ltd in advance) to cover e.g. premises license changes, solicitors fees, and agreement||400|
|Advance Rent In the region of (usually 1 month)||2,916|
|Working Capital Minimum working capital required||8,000|
|Fixtures and Fittings Estimated valuation (paid to the outgoing licensee via the valuer at least 7 days in advance) to purchase e.g. carpets, curtains, tables and chairs, kitchen equipment.||35,000|
ANTICIPATED RETAINED INCOME
|Drink Sales||£3,200 p/w|
|Food Sales||£4,900 p/w|
|Room Sales||£1,600 p/w|
|Service Charge Payable monthly, to include: Cellar cooling service, Buildings insurance, Fire Compliance, Boiler maintenance (tenancies only). NICEIC Electrical Test (tenancies only)||1,820|
|Accountancy Services fees for a nominated accountant||2,600|
|Stocktaking Services We recommend all licensees should have six professional stocktakes per annum||1,560|
|Rent In the region of (payable monthly in advance)||35,000|