The New Inn is a very large community wet led pub located in the city of Poole. It is well supported by locals and benefits from tourists that frequent the area.
TRADING AREA AND PRIVATE ACCOMMODATION
The New Inn has two separate open plan bar areas. The public bar is split into three/four different spaces, some of which are raised. The other bar is akin to a private function room that can hold sixty to eighty people. The New Inn benefits from pool tables and numerous dart boards, and the large kitchen is fully equipped. The fixtures and furniture are of pleasant contemporary style and they are in good order. The car park has the capacity for approximately sixteen vehicles. The pub has a good sized outside drinking area and with a purpose built smoking shelter. The outside areas would benefit from investment.
The large private accommodation incudes five bedrooms.
LOCAL AREA AND CUSTOMER BASE
The New Inn is surrounded by a large, residential area and is located on a busy main road that runs through the town. There are two large, popular schools close by too. There is plenty to do in Poole; it has plenty of attractions, restaurants and of the course the beautiful beach area and quay.
The pub is popular with locals and attracts tourist trade too. The New Inn has darts, pool, euchre and dominoes teams. The site has a very popular quiz night and live entertainment every weekend. The pub is the most popular place to go to watch live sports and it has several large flat TVs and a projector screen dotted around the public bar for everyone to have visibility.
The New Inn currently trades at around £7,000 per week with a 70/30 wet/dry split. The new operator would need to improve the food offer to accommodate more families and drive the community feel to the business and to improve its reputation. It is the best place to go to watch sport therefore the new tenants need to be sports and team orientated. With the right operator driving sales the pub has the potential to achieve sales of £10,000 per week.
Barrelage Discount £75
Fair Maintainable Turnover* £376,640.94 p.a.
Working Capital £5,000
Training Fee £550+VAT
Security Deposit £7,500
Stock and Glassware £3,000
Legal fees £350+VAT**
Initial Contractual Costs ***
Rent £32,000 p.a.
Service charge £1,350 p.a.
Decorating fund £2,000 p.a.
Insurance £1,200 p.a.
Once you’ve agreed the purchase terms for the fixtures and fittings you will not be charged for any additional ingoing costs by Marston’s, other than those detailed above.
*Figure taken from Marston’s rent assessment
**An estimated figure and subject to completion within 8 weeks
***The ongoing contractual costs will vary in accordance with the terms of the specific agreement
****You will need to obtain independent advice from a qualified accountant, RICS qualified surveyor and a qualified solicitor at your own cost
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