Richmond

108 Portswood Road, Southampton, Hampshire, SO17 2FW

Pub overview

The Richmond is an established community public house that offers a quality range of drinks, value food, pub games and sports viewing along with a substantial £72 per barrel blended discount on this agreement.

The Richmond currently attracts local residents and students to this very well appointed community public house. The house benefits from selling a wide and varied selection of drinks with a great cask ale range, value food and healthy gaming machine income. Trade is further enhanced by a patio area and commercial garden that also houses an independent function room.

This is a two bar operation split between public bar area and lounge area with casual dining and sports viewing available in both. The business is supported by ladies and gents toilets, basic commercial kitchen with storage areas, patio, commercial garden, small independent function room and designated space for circa 6 cars to park. The cellar is located at basement level. The entire trade area is in excellent decorative order.

Trade space
Bars 2
Car park spaces 6
Food covers 24
Function rooms 1
Gardens 1
Trade kitchens 1
Patio areas 1

The private accommodation is functional and consists of 3 double bedrooms, lounge, bathroom, separate toilet and an office.

Private space
Private Rooms 7
Lounge 1
Double bedrooms 3
Bathrooms 1
Toilets 1
Office 1

Rent information

Annual rent £22,000.00 per annum
Weekly rent £423.08 per week fixed
Notes

£22,000 per annum, £423.08 per week fixed and subject to annual RPI increase, which is capped.  Paid weekly by direct debit. *Machine Income free of tie*

Entry Costs approx £19,150 which includes stock, glassware, crockery, cutlery, fuel and cleaning materials, legal, brokers and stocktaking fees, training fees, schedule of condition, working capital and deposit (25% of head rent, minimum £6,000). The F&F has been estimated £25,000 at this stage and will be valued by a licensed trade broker in due course, F&F could be agreed on a rental basis.

Brokers £675.00 Legal £825.00
Deposit £5,500.00 Stocktaking fees £150.00
Fixtures & fittings TBC Working capital £5,000.00
Other costs £7,000.00 Total entry cost £19,150.00

Agreement description

Standard Tenancy Agreement
A fixed 5 year term agreement which is contracted out of the Landlord and Tenant Act 1954
•Tie variations available
•Rent set at the start of the agreement, subject to the annual Retail Prices Index (RPI) which is capped
•Flexible pricing options available
•50/50 profit split of machines income
•Greene King is responsible for the structure of the building
•Ability to end agreement with 6 months notice at any time with standard notice fee equal to 3 months rent

You will need to estimate the turnover you expect to achieve from the pub, with regard to food and accommodation (if applicable). Barrelage figures are given to assist you with calculations.

Calculators to help you are available on the business planning section of our website.

Trading volumes

Year Beer (Brls) Wine & spirits (Ltrs) Minerals (Ltrs)
2015/16 227 1,370 5,283
2014/15 208 1,176 4,428
2013/14 202 1,152 3,960
Volume notes

Location

The Richmond is located in Portswood, Southampton just 5 minutes drive from the city centre. There is a mainline train link nearby, sea crossings to Europe and the Isle of Wight and the M27 & M3 road networks can be reached within circa 15 minutes. The New Forest and surrounding areas are also only circa 30 minutes drive away. The area has all major amenities including schools, university and excellent shopping.

Facilities

Trade bar
Car park
Function room
Pub garden
Trade kitchen
Trade patio

Current premises licence opening hours

Monday to Thursday 10:00 - 00:30 Friday & Saturday 10:00 - 01:30 Sunday 11:00 - 00:30

Contact Us

Rob Ayling

Business Development Manager

Call us today 0845 607 5330

Apply online
“ The Richmond is a fantastic example of an excellent community public house in great condition. This established business can be further enhanced with fresh ideas and initiatives. ”