Run an Admiral Pub, Prince of Wales, Bridgend

The Prince Of Wales is a traditional Welsh stone detached property in the heart of the village of Coychurch. Coychurch is a small village situated between Pencoed and Bridgend, and is home to some 2,000 residents which gives it a great community feel. There is regular public transport between the village and Bridgend. Bridgend has a very diverse culture and is home to a large college and also a number of large industrial areas bringing a lot of employment to the area.

Pub Layout: The pub has two main trading areas separated by a small corridor, and a feature open fire splits the traditional regular’s bar and the lounge area which is used for entertainment. The décor has a warm traditional feel with a mixture of bench and freestanding seating. The bar areas can cater for approx. 30 covers and is serviced by a suitably sized trade kitchen located at the rear of the pub. There is a small rear garden at the pub which can be accessed through the main bar and this is adjacent to the car park at the site and can hold approximately twelve cars.

Trading Style: The Prince of Wales is a traditional pub that is at the heart of the local community. Currently, the site is predominantly drinks focused, but the vision for the site would be to look at the food offering to grow this area of the trade. Currently, weekly quizzes are very popular and regular music acts help to draw customers to the pub. Local sports teams would be another area to attract customers to the site and fit in with the local community. A strong rhythm of the week would be needed that was well communicated to grow the regular customer base.

Accommodation: The private accommodation consists of a spacious lounge, two good sized bedrooms, kitchen and bathroom all in good decorative order.

Financial:

• Annual Rent: £18,500
• Security Deposit: £3,000
• Working Capital: £3,000
• Stock: £2,000
• 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: The ideal applicant will share our vision of making the Prince of Wales the place to be in Coychurch and making it sit firmly within the heart of the local community. They will have excellent retail standards and the ability to market the pub both locally and on all social media platforms to communicate with both the local community and the wider towns within the area. A strong desire to get involved with the local community would also be beneficial to build relationships with people who live in close proximity. An understanding of a good food menu that will attract customers would also be beneficial to continue to grow the trade at the pub.

Future Plans:

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 – This sum of money will be held on your account and will be returned to you on exiting of the pub based on your final account balance and the condition of the property. Our standard deposit is 25% of the headline rent. On occasion, we can negotiate a lower security deposit with the aim to build up to our full deposit on a long term agreement.
• 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. 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.

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 peace 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.