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.
Agreement Fee: £750.00
Cash Float: £3,000.00
Fixtures & Fittings: £15,000.00
Forecast Turnover: £352,996.97
Full Deposit: £6,750.00
Full Tie Release: £28,250.00
Guide Rent: £27,000.00
Initial Deposit: £0.00
Repair Fund: £3,000.00
Stock & Glassware: £5,000.00
Working Capital: £23,481.00
Year 1 Rent: £0.00
Forecast Dry Turnover: £66,627.79
Forecast Other Turnover: £5,008.35
Forecast Wet Turnover: £281,360.83
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.
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