EAST SUSSEX - LIFESTYLE WET-LED PUBLIC HOUSE
Newhaven, East Sussex
Ref: 49228
£345,000
Freehold
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Key Features
Location
The Prince of Wales is situated in the East Sussex port town of Newhaven. The town lies in the Lewes District, at the mouth of the River Ouse. The town is known for its regular ferry services to the continent and is an important freight terminal. In 2021, the parish had a population of 12,854.
The town is an important employment hub in the area, boasting a large industrial and retail district housing retailers such as Sainsburys, B&Q and The Range, as well as a number of food production factories.
The Prince of Wales is situated on South Road, a residential street a short distance from the town centre. Despite being a residential area, South Road houses a fish and chip shop, kebab shop, convenience store and the town council offices.
The Prince of Wales is a two-storey mid-terrace property, understood to have been built in the 1930’s. The property is of brick construction under a pitched tile roof, with a unique green tile frontage with mock Tudor elevations above.
The town is an important employment hub in the area, boasting a large industrial and retail district housing retailers such as Sainsburys, B&Q and The Range, as well as a number of food production factories.
The Prince of Wales is situated on South Road, a residential street a short distance from the town centre. Despite being a residential area, South Road houses a fish and chip shop, kebab shop, convenience store and the town council offices.
The Prince of Wales is a two-storey mid-terrace property, understood to have been built in the 1930’s. The property is of brick construction under a pitched tile roof, with a unique green tile frontage with mock Tudor elevations above.
Property
TRADE AREAS
- SALOON BAR: Presented with carpeted flooring, wood built bar servery, and flat screen television. Seating for 28.
- PUBLIC BAR: With pool table, dart board and two televisions. Seating for 16 with room for more standing.
- LADIES’ TOILETS.
- GENTLEMEN’S TOILETS.
- GROUND FLOOR CELLAR.
OWNERS ACCOMMODATION
Located at first floor level and comprising:
- TWO DOUBLE BEDROOMS.
- DOUBLE BEDROOM with EN SUITE WC.
- LIVING ROOM.
- KITCHEN.
- UTILITY ROOM.
- SHOWER ROOM.
- WC.
EXTERNAL
- COURTYARD PATIO: With seating for 10.
- SALOON BAR: Presented with carpeted flooring, wood built bar servery, and flat screen television. Seating for 28.
- PUBLIC BAR: With pool table, dart board and two televisions. Seating for 16 with room for more standing.
- LADIES’ TOILETS.
- GENTLEMEN’S TOILETS.
- GROUND FLOOR CELLAR.
OWNERS ACCOMMODATION
Located at first floor level and comprising:
- TWO DOUBLE BEDROOMS.
- DOUBLE BEDROOM with EN SUITE WC.
- LIVING ROOM.
- KITCHEN.
- UTILITY ROOM.
- SHOWER ROOM.
- WC.
EXTERNAL
- COURTYARD PATIO: With seating for 10.
The Business
Our clients have owned and operated The Prince of Wales for the past 25 years. It operates as a traditional wet only public house serving the needs of the local community. The business enjoys a loyal, local following who use the premises on a daily basis. The business is operated as a lifestyle business by the current owners, without the need for additional staff.
The Prince of Wales prides itself on its lack of fruit machines and jukeboxes, focusing on a true pub experience centred around good beer and talking.
The pub does benefit from both a pool and dart team.
There is scope for a new owner to further the business by increasing the current opening hours, which are reduced to suit the lifestyle of the seller. Current opening hours are:
Monday to Wednesday: 14:00-20:00
Thursday to Saturday: 14:00 until late
Sunday: 12:00-17:00
Net turnover for the year ending 31 March 2023 stood at £135,388, generating an adjusted net profit of £63,151. Accounts for the year ending 31 March 2024 show a net turnover of £124,663, generating an adjusted net profit of £48,819. Further accounting details can be made available to interested parties following a formal viewing.
The Prince of Wales prides itself on its lack of fruit machines and jukeboxes, focusing on a true pub experience centred around good beer and talking.
The pub does benefit from both a pool and dart team.
There is scope for a new owner to further the business by increasing the current opening hours, which are reduced to suit the lifestyle of the seller. Current opening hours are:
Monday to Wednesday: 14:00-20:00
Thursday to Saturday: 14:00 until late
Sunday: 12:00-17:00
Net turnover for the year ending 31 March 2023 stood at £135,388, generating an adjusted net profit of £63,151. Accounts for the year ending 31 March 2024 show a net turnover of £124,663, generating an adjusted net profit of £48,819. Further accounting details can be made available to interested parties following a formal viewing.
Tenure
FREEHOLD £345,000 to include goodwill and fixtures & fittings. Stock at valuation in addition.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
Licence
A full Premises Licence is held.
Services
All mains services are connected.
Local Authority: Lewes District Council.
Rateable Value: £3,300 as of 01 April 2023.
Local Authority: Lewes District Council.
Rateable Value: £3,300 as of 01 April 2023.
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Robert Cockayne
South East & London
