Unicorn
Beach Road, Porthtowan, TR4 8AD
Unicorn
With an extensive, visionary refurbishment planned to the value of £255k 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
Trading Area & Facilities
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
Premises Licence 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 |
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“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 *** FMOP = Fair Maintainable Operating Profit |
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Investment
| Ingoing Costs | |
| Estimated Licensee Fixtures & Fittings Value | £ 32,991 |
| 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 |
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In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds. |
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| 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 |
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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 |
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