* Leasehold
* Traditional hostelry in Newport's Town Centre, close to Newport’s transport links and prominent South Street retailers
* Spacious two bedroom owners apartment on the first floor of the property
* Pub runs to circa 75m2 (807ft2), with approximately 55 covers plus bar seating
* Offers invited in the region of £25, 000 for the leasehold with a passing rent of £26, 475. 51 per annum, fixtures, fittings and goodwill, plus s. a. v.
**Location**
Occupying a highly prominent return frontage to both South Street, the main
arterial road into Newport's town centre and Town Lane, the Prince of Wales is
a highly visible Tudor styled building. This location allows the proprietors
to take advantage of the high footfall from shoppers and locals alike, using
what is undoubtedly the Island's comparison retail centre and main commercial
hub. Newport is the Island's county town and undoubted commercial centre. The
immediate population is around 25, 000 with a catchment of around 60, 000 when
operating as the comparison shopping centre for the entire Island population
of around 140, 000. Continued investment in the town most recently from Warren
James Jewellers at the top of the High Street, ensures its importance as a
retail and leisure centre.
**Description**
With entrances off both South Street and Town Lane, there is open plan bar
seating for approximately 55 customers, plus a further six stools to the bar
itself. The pub is traditionally arranged with carpeted flooring, a working
fireplace with brick and timber surround, one further fireplace, two wall
mounted televisions, a juke box, darts run and sound system. The public areas
run to approximately 56m2 (602 ft2). Adjacent to the bar is a wash - up area and
kitchen. The public areas are serviced by Ladies and Gents toilet facilities.
Please see floor plan for further detail.
**Outside**
Cellarage of some 3. 7m x 3m is accessed by the dray man, through an open
courtyard area, also allowing for some external seating with a covered area as
a "smoking solution".
**Trading Style**
The premises currently serves drinks only, though it has previously provided
some lunchtime food. There is a tie on lagers, ales, cider, mixers, and post -
mix, but free of tie on spirits and wine. The bar hosts darts and crib teams.
**The Lease**
A residue of a 10 - year term from February 2021 provided by Punch, with the
landlords being responsible for cellar maintenance, and machine income is
split 90% to the lessee and 10% to the landlords. The current passing rent is
£26, 475. 51 per annum.
**Terms**
For sale, with offers invited in the region of £25, 000 for lease assignment,
goodwill, fixtures & fittings, plus stock at valuation.
**Uniform Business Rate**
Rateable Value: £11, 750
2023/2024: £0. 512p without small business relief. Interested parties should
make their own enquiries of the Isle of Wight Council to confirm any rate
liability or rate concession that may be applicable by telephoning Business
Rates on
**Viewing**
Strictly by appointment with sole agents Gully Howard Commercial Property,
Suite 11 Salisbury Gardens, Dudley Road, Ventnor PO38 1EJ. Call Gavin Chambers
or Morgan Williams on . E: Or
_under no circumstances should any direct approach be made, as the staff will
be unable to assist_

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