• Fair Maintainable Trade* (FMT) Net Turnover: over £700K per annum
  • Rent: 10% of Net Turnover
  • Wet/Dry Split: 80%/20%
  • Exciting investment scheme on appointment of new Business Partner
  • A characterful, traditional town centre ale house
  • Well-known locally as a hub for live entertainment and music
  • Affluent, diverse city location

 

Refurbishment Scheme Update

The refurbishment scheme plans have now been approved and the scheme will start in January 2020.

The Fountain is one of the oldest public houses in Chichester, first opening its doors in 1798. The pub is built against the Roman city wall which is still visible in the restaurant. It is one of the areas longest standing live music venues, and has a popular reputation with local residents. The pub consists of three main areas; the first room has the feel of a traditional ale house, complete with main bar, wooden floor, bay windows and feature fireplace; the middle room has a prominent bar with space for vertical drinking and a billiards table; and the restaurant is to the rear of the property, and includes a feature wall and space for circa 40 diners. We are about to embark on an exciting investment plan which will fully refurbish each trading area and the toilets, to enable the business to better compete in a more demanding environment.

 

The domestic accommodation comprises a large bedroom, with the opportunity to use part of the space as a living room. There is a also a large kitchen/diner, a separate office and a separate bathroom and WC. The private accommodation will be redecorated and modernised as part of the planned investment scheme.

 

The ideal applicant will need to be a great host, with the ability to manage a complex business serving a quality food offer, whilst at the same time managing the high energy of the entertainment for which the Fountain is famous.

Top Line Figures

  • Rent: 10% of Net Turnover (estimate £70,000 per annum), with a Base Rent of £60,000 per annum and a capped rent of £105,000 per annum)
  • Initial Investment: c.£35,000
  • Fair Maintainable Trade* (FMT) Turnover: £725,000 per annum

 

Full Investment Breakdown †

  • Deposit: £7,500
  • Training Fee: £1,000
  • Working Capital: c.£10,000
  • Fixtures & Fittings: Estimated at £40,000 (Inventory is an estimate net of VAT. Loan facilities are available for the purchase of fixtures and fittings

 

Additional Information

  • Estimated Wet/Dry Split: 80%/20%
  • Business Rates: £15,835
  • Available From: 16/04/2020
  • Closing Date: 16/02/2020

 

  • Last 3 year Volume
  • Beer & Cider - Barrels
  • Wines - Litres
  • Spirits - Litres
  • Soft Drinks - Litres
  • Current Year
  • 251
  • 1750
  • 920
  • 2800
  • Last Year
  • 297
  • 2280
  • 1060
  • 3570
  • 2 Years Previous
  • 343
  • 3010
  • 1370
  • 3660

Trade
Asset 2

The Fountain currently trades predominantly as a weekend led music venue. It does however have the opportunity to trade from early morning, with the introduction of breakfasts and coffee, through to late in the evening, with entertainment being a key feature. During the day, there is a steady lunch time trade targeted at shoppers and business people. In the evening, the focus moves much more towards drink associated with meeting friends and enjoying the traditional surroundings and regular entertainment.


Misrepresentation

* Fair Maintainable Trade (FMT) is the level of turnover and profit that we believe that the business is capable of delivering if being operated competently. The FMT is usually calculated by the Business Development Partner for the pub, who will produce a shadow profit and loss account for the business which supports the rent. A copy of the shadow profit and loss account will be provided during the recruitment process. Please see our Code of Practice for more information on FMT and rent. The Fair Maintainable Trade is not a guarantee of levels of trade or profit that will be made from the business – we strongly recommend you seek appropriate independent legal and business advice as part of your Business Plan.

† The Full Investment Breakdown for each public house is higher than the minimum investment we will accept because potential Business Partners with the minimum investment available can still be accepted as we are able to offer them financial support for the rest of the monies. The working capital incorporates the purchase of stock, glassware, loose catering effects and valuer fees – please note the number quoted on this website are based on estimates. The exact costs will be determined on the day you take on the public house by independent valuers and stock takers. Please see our Code of Practice for more information about investment.

Asset 2

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