Unicorn

Beach Road, Porthtowan, Cornwall TR4 8AD

  • Unicorn Porthtowan
  • Unicorn Porthtowan
  • Unicorn Porthtowan
  • Unicorn Porthtowan
  • Unicorn Porthtowan
  • Unicorn Porthtowan
  • Unicorn Porthtowan

Unicorn

Exciting Opportunity - Gorgeous Beachfront Inn!

With an extensive, visionary refurbishment planned and located a stone's throw from surfing hot spot Porthtowan Beach, this gorgeous pub is a superb business opportunity. The surrounding area consists of mature couples and families ensuring a steady local trade however, most of The Unicorn's trade happens during the warmer summer months. Through the planned works, amendments will be made to create a cozy venue for guests to stay and enjoy an open fire, during the winter months also.

Due to undergo a full external and internal refresh, the pub has three en-suite letting rooms, along with three hostel style dormitories which prove very popular during summer months. The full catering kitchen allows for a good quality food menu focusing on local favourites - combine this with a cask ale and cocktail offering and you have the perfect home from home for locals and tourists to the area.

Experienced, Progressive Operator Wanted

Are you an ambitious and forward thinking operator with a passion for service? Using your welcoming manner and high standards, you will provide a world class customer experience to your guests. With support from Star Pubs & Bars, you will grow The Unicorn into a praised pub within the area that sees guests returning year on year.

Pub Features

  • Rolling Tenancy
  • Letting Rooms
  • Function Room
  • Refurbishment Planned
  • Outdoor Trade
  • Private Accommodation
  • Pub Games

Trading Area & Facilities

Inside, works will ensure a new, comfortable and contemporary nautical design. New attractive fixtures and fittings will be added to change the overall look & feel of the pub. The single large main bar area which extends out to a glass atrium in the rear will be greatly enhanced as a result of the works, as will the separate function room which should be used for private hire. There are six letting rooms on site - three en-suite and three dormitories.

Externally, an entirely new lighting and signage scheme will greatly enhance the property and attract both locals and tourists alike. The pub has two good sized, enviable beachfront outdoor seating areas which attracts guests from far and wide to enjoy the setting. There is car parking available close to the pub.

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 & Bars, 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

Consists of two bedrooms, bathroom, living room and kitchen. In line with our 'Ready To Trade Promise', should any works be required, we will ensure your private accommodation is in good order so that you can focus your energy on getting the business right.

Premises Licence Details

Please see Premises Licence for more details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
09:30 - 00:00 09:30 - 00:00 09:30 - 00:00 09:30 - 00:00 09:30 - 00:00 09:30 - 00:00 09:30 - 00:00

Financials

Annual Rent £
42,000
Estimated Annual FMOP (Licensee Profit) £
44,697
Representative HEINEKEN UK Brand Discount Per Barrel £
125
Estimated Annual Turnover £
510,456
Estimated Annual Barrelage
240

The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details).

Historical volume figures may not include purchases made through 3rd Parties.

** All figures quoted are exclusive of VAT

*** FMOP = Fair Maintainable Operating Profit

Investment

Ingoing Costs
Estimated Licensee Fixtures & Fittings Value £
35,000
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
6,000
Deposit Amount £
10,500
Rent In Advance £
808
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
60
Premises Licence Fee £
350
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
54,503
Estimated Minimum Ingoing Costs £
50,000

In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.

The Estimated Licensee Fixtures & Fittings (F&F) Value assumes that the pub will be let on a Rolling Tenancy or Business Start-Up Agreement, where we own the majority of the F&F. The F&F Value for Full Repairing & Insuring Leases will be significantly more.

The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent or £3,000 (whichever is greater) and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs are not included in the rent model or ongoing costs below.

Other SP&B Ongoing Charges
Estimated Annual Buildings Insurance £
2,928
Estimated Annual Maintenance Compliance Charge £
1,481
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
6,108

The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details)

* All figures quoted are exclusive of VAT

** Deposit build up will be payable over a maximum of 24 months

*** Fixtures and Fittings annual rental fee should be estimated at 15% of the F&F value. The actual F&F value will be determined on the day of entry

**** Maintenance Compliance Charge relates to the fees for various statutory inspections

***** Estimated Legal Fees is a charge applied to your account by SP&B for creation of your Lease. You are required to engage and pay for your own solicitor - your solicitor's fees are not included in the above estimate

****** The above figures assume that rent is billed weekly in advance and that Star Pubs & Bars retain ownership of large fixtures and fittings. Initial costs for a Fully Repairing and Insuring lease will be higher as rent is invoiced monthly in advance and all fixtures and fittings must be purchased