Prince of Wales

76 Prospect Street, Caversham, Reading, Berkshire, RG4 8JN
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Letting Details

Description and Trading Style

The Prince of Wales is a prominent community pub in the Reading suburb of Caversham with a good local reputation. This pub is wet led, and sports focussed, trading to local residents with a strong CAMRA and football/rugby following. The pub hosts many charity events, darts teams, live music, regular quiz nights etc. There is a fresh pizza and paninis food offer.

Location and Local Amenities

The pub is prominently situated right on the junction of the B481 to Watlington and A4155 Henley Road. The Thames side suburb of Caversham is a busy, well populated area with local shops and schools. The centre of Reading is a short distance away.

Accommodation

Trade: Open plan main bar serving 3 areas with a gin bar (approx. 30 covers), pool table area, heated outside area with a gin bar good for functions (40 covers), WC's including a disabled, small annex kitchen, cellar, car park (18 cars), garden (60 covers) & good quality smoking area.
Private: 2 double and 1 single bedroom, sitting room, kitchen, bathroom and WC.

Current and Future Markets

There is currently a loyal local wet following at the pub which the current operators have worked hard to preserve. Current operators have introduced a strong gin offer and two small dedicated bars. We are looking for operators to continue to develop both sides of the business.

Requirements

We seek applicants who have community experience, it will be very important to communicate well with the local customer base. Applicants must have or be able to apply for a personal licence.

Estimated Ingoings

Circa £14,000 to include a security deposit (3 months of base rent), rent, service charge and insurance advance, stock, glassware, loose goods and training fee. Fixtures & fittings are circa £15,000 and working capital is circa £4,000.

Trade Volumes (FOT=Free of Tie) 2015 2016 2017 To 17.1.2.18
Draught Beer and Cider (36 gallon units) 171.40 166.61 165.60 160.08
Packaged (litres) 138.28 100.32 FOT FOT
Minerals (10 litres) 250.00 242.07 FOT FOT
Spirits (litres) 248.50 208.05 FOT FOT
Wines (litres) 684.57 677.21 685.45 688.50

Estimated Turnover

You will need to estimate the turnover you expect from the pub. The current barrelage is given to assist you with calculations, but you need to estimate the food sales.

Guide Rent

£33,000 per annum payable fortnightly in advance by direct debit. Retail Price Indexation applies to rents.

Terms

Five year renewable tenancy agreements with an additional service charge that covers property insurance, servicing of heating and cellar cooling equipment etc. There is a full wet tie unless agreed otherwise.

Rateable value

Draft 2017 figure £14,750. Please contact the local authority to find out actual rates payable.

Licenses & Permits

Sale of alcohol by retail for consumption on and off the premises, indoor sport and playing of live/recorded music.

Permitted hours

Mon - Wed: 11.00am - 11.00pm; Fri & Sat:11am - Midnight; Sun: 11.00am - 10.30pm.

Current Offerings

Serves Food
Average price of main course under £12
Hold a party 
Places to Walk
Garden / Patio
Watch Sports
Pool table 
Family friendly
Disabled access 
Dog friendly 
Park the car
Wifi access 

Current Opening Times

Mon – Thur 3pm – 11pm, Fri – Sat 12pm – 12am, Sun 12pm to 10.30pm