Are you looking to let a pub in the Wolverhampton area ? You could run The Prince Albert !
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Let A Pub In Wolverhampton – Run The Prince Albert
The Prince Albert – Wolverhampton
The Prince Albert is located in the centre of Wolverhampton, opposite the train and bus stations, near to the theatre and a short walk to the main shopping areas. It currently trades as a late-night venue however this excellently positioned pub has the opportunity to grow the day trade and capitalise on the recent redevelopment of the local area. This large property expands across three floors and each one has their own bar.
The stated ingoing figures are correct at point of advertising. Please be aware there may be additional costs.
About the Pub
The Prince Albert is located in the centre of Wolverhampton, opposite the train and bus stations, near to the theatre and a short walk to the main shopping areas. It currently trades as a late-night venue however this excellently positioned pub has the opportunity to grow the day trade and capitalise on the recent redevelopment of the local area. This large property expands across three floors and each one has their own bar. The ground and first floors both serve draught and have spirits and fridges whereas the bar on the second floor is smaller for a bottled range. The ground floor comprises one large trading area with a range of fixed and loose seating and has recently undergone redecoration. From this area there is access to the rear beer garden, toilets and a small cloakroom. The kitchen space is behind the bar and has its own store room but would need some investment and equipment to make it useable. A staircase near the kitchen leads to the first floor and has a bar on the right and an area for seating or functions on the left which leads to further toilets and another staircase. On the top floor is an office and a further trade area which is ideal for private functions. The pub has previously had live bands and DJs performing which has made the most of its late licence and attracted and created further revenue and trade. Underneath the ground floor is a large basement cellar which is split across two rooms. Although a city centre pub, the property benefits from an unusually large beer garden to the rear with a functioning bar. This fantastic area has several tables, chairs and marquees, one of which provides a covered smoking area. The pub is in need of some investment in order to put this back into an all-day trading operation and the right publican who wants to capitalise on this growing area of Wolverhampton.
Key Features
Late night venue with three floors
Large beer garden
Frequent live music
Private function room
Discounts of up to £220 per barrel but has an average of £180 per barrel
Business Information
Agreement:
Retail Partnership Tenancy
Introductory Rent:
£25,000 pa
Potential Turnover:
£364,000 pa
Fixtures / Fittings:
Est. £15,000
Capital Startup:
Est. £16,250
Surrounding Area
Wolverhampton is a city and metropolitan borough in the West Midlands with a population of just under 250,000. It lies approximately 16 miles northwest of Birmingham and is just 20 minutes from Dudley and Walsall. The city initially grew as a market town and its economy is still based on engineering including a large aerospace industry as well as the service sector. As with many large cities, Wolverhampton benefits from a wide range of amenities, including a university, railway station, several schools and a horse racecourse. The Prince Albert is located in the centre, opposite the train station and around the corner from the theatre. It is surrounded by offices and is very close to the shops and the football stadium so the new retailer should be endeavouring to capture these customers.
Business Information
Agreement:
Retail Partnership Tenancy
Introductory Rent:
£25,000 pa
Potential Turnover:
£364,000 pa
Fixtures / Fittings:
Est. £15,000
Capital Startup:
Est. £16,250
Regional Manager’s Thoughts
The Prince Albert is currently trading as a night time venue but it has the potential to operate throughout the day. This area has recently been developed and further regeneration plans for Wolverhampton mean that there is huge opportunity over the next few years to really grow this site. The theatre and football traffic needs to be captured as well as maintaining the current night-time trade in order to make the site a huge success. The new publican needs to be customer focused with high standards and a desire to redevelop this fantastic business to create the place to be in Wolverhampton.
