Run an Admiral Pub, Black Horse, Princes Risborough

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 Black Horse pub is located in the beautiful picturesque village of Lacey Green in the Wycombe district, near Princes Risborough in Buckinghamshire. The pub is predominantly positioned on the main road through Lacey Green, creating an abundance of passing trade. This affluent village is made up of residential houses and businesses, including local amenities such as primary schools, a church, and a recreation sports centre.

Pub Layout

This delightful pub has received a recent full redecoration to a high standard. It is served by a cosy bar at the front, with a larger seated area further back which has more emphasis on dining, all decorated with traditional timber beams and a mixture of loose seating and tables all in excellent condition. In the bar area, live sports are televised with a darts oche, dominoes, and crib tables used. Externally, at the rear of the pub, there is a large patio beer garden with a marquee, great for hosting events and al fresco dining with a children’s play area and pet corner. To the front of the pub, there is a further hard landscaped area housing a number of picnic benches. The Black Horse also has the benefit of a large car park accommodating approximately twenty vehicles.

Trading Style:

The Black Horse trades as a traditional village community local with a mixed retail offer which also attracts residents from neighbouring villages. Renowned for its excellent home-cooked meals, including beloved Sunday lunches, the pub also boasts a rotating selection of ales and an extensive range of drinks. This family-friendly establishment features a dedicated children’s play area and warmly welcomes dogs. Traditional pub games and community events are a staple, fostering strong local engagement. After years of dedicated stewardship, the current licensee is retiring, leaving behind a thriving business with a loyal customer base. The new licensee will have the opportunity to uphold and build upon the esteemed reputation of the Black Horse.

Accommodation:

Private Accommodation: The private accommodation is located on the first floor and consists of three bedrooms, small office/additional bedroom, lounge, kitchen, and family bathroom.

Financial:

• Annual Rent: £22,000
• Security Deposit: £5,000 or the equivalent of three months’ rent, whichever is greater
• Working Capital: £4,000
• Stock: £3,000
• Business Rates: £Nil. Based on the April 2023 rating list, the Zero 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.
• 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.

BDM Vision:

Admiral Taverns are looking for a licensee(s) who will become part of the community and attract both regular customers but also capitalise on changes to a more premium offer and become known further afield for its good food. The garden, which is a key asset for the pub, is also an opportunity to explore further use through the seasons, including public events and functions.

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.
• 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.
• Working Capital – This is a recommended 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.
• 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.
• 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 peace of mind about your boiler and cellar cooling repair and replacement.
• 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.