Run a Star Pub - Kasbah Ryde - Isle Of Wight

Would you suit this pub? The ideal operator is preferably someone who understands the local area and can demonstrate previous experience of working with a seasonal customer base. The ability to demonstrate how to maximise occupancy in the guest rooms is required in addition to a robust business plan.

With a planned investment of around £420,000 from Star Pubs, The Kasbah is a rare business opportunity on the renowned, bustling Isle of Wight. Located just meters from the pier and waterfront, in the heart of the seaside town of Ryde, the pub attracts a huge number of tourists in the summertime and festival season. As a result, Kasbah appeals to both seasonal trade and also a steady local trade from the residents of the town. With a revamped, striking Tudor style façade, the pub will showcase a brand new design and theme that will attract a new clientele to the venue. Staying away from a value offer, it will instead give customers a great experience, with a simple food menu complemented by a great drinks offer, which will include cocktails and a gin range. The Kasbah also boasts nine, en-suite guest rooms.

• Refurbishment Planned
• Letting Rooms
• Outdoor Trade
• Catering Kitchen
Trading Area & Facilities Internally, the bar which has capacity for up to 100 guests. Significant changes will be made to each trading space and these works include:
• Complete decoration throughout, including ceilings and timber work
• New furniture in every trading area
• New feature faux-planting, internally and externally
• The commercial kitchen will be revised and works will be made to ensure it is compliant
• The guest toilets will be re-tiled and revamped throughout
The Kasbah boasts nine cosy boutique-style guest bedrooms. Outside to the front, the striking Tudor façade will be fully renovated with a new colour and lighting scheme. To the rear, the courtyard garden will have the following works completed:
• Redecoration to all walls
• New wall lights & festoon lighting
• New loose furniture
• New heat lamps
Applicants should be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process. Where a significant investment is made in a pub by Star Pubs, an "Investment Exemption" will be required. The exemption means that the option of a Market Rent Option lease won't be available at rent review for a period of up to seven years for this site, as per The Pub Code (2016). Private Accommodation There is no private accommodation at this site. Pub Financials Pub Financials Icon With our 5 Star Promise, the rent at the start of your agreement is fixed until the end of its initial term. Indicative entry costs £60,854 Annual Estimated Annual Turnover £553,868 Annual Rent £53,418 Entry Costs Deposit £13,354 Estimated Fixtures & Fittings Value £39,000 Stock Valuation £5,000 Working Capital Required £3,500 The above figures are provided as a guide only and will be finalised as part of the commercial agreement. All figures quoted are exclusive of VAT. Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms. The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.