Florence Arms

Description

The Florence Arms, located in Southsea, Portsmouth is a charming establishment situated on a corner plot at the junction of Florence Road and St Catherine Street. Its distinctive half-glazed red tile and brick façade adds to its appeal. The property briefly comprises a bar, lounge, and restaurant accommodating up to 120 covers. Additionally, it offers a three-bedroom self-contained residential accommodation, all of which have recently undergone a full refurbishment. Website: https://www.theflorencearmssouthsea.co.uk/ GIA:398 sqm (4,284 sq ft)

Location

The Florence Arms is nestled in the heart of Southsea, Portsmouth within walking distance of the Southsea seafront which features attractions like South Parade Pier and the D-Day Museum. Located off the A288 in a residential area, it is two miles (3 km) east of Gunwharf Quays and the historic naval dockyards, and a similar distance southeast to Portsmouth City Centre. Southsea is a popular resort area with a long beachfront, seafront gardens, a large common, and various amenities around South Parade Pier. The area above the coastline is densely populated with residential and commercial properties, giving it a distinctly independent feel. To the south lies Clarence Esplanade and the beach. The area also boasts numerous boutique B&Bs and Airbnb venues. Southsea is situated 22 miles (36 km) southeast of Southampton and 21 miles (33 km) west of Chichester. It is administered by Portsmouth City Council.

Internal Details

Access can be found on the corner of Florence Road and St Catherine's Street by double doors leading into the main L-shaped bar area with herringbone flooring throughout, duel aspect windows with roman blinds and copper pendent lights with a tartan blue rug as you enter. The main bar area is a mix of Parson chairs and banquette seating. From the right hand side of the bar can be found the restaurant area. This space has two roof lanterns for natural lighting and modern wall panelling with contemporary wallpaper above covers for 120.

Ground Floor

The ground floor features an L-shaped bar and lounge that accommodates 40 guests, a restaurant with seating for 80 diners, a fully equipped commercial kitchen with a pot wash area, and separate ladies, gents, and disabled toilets. Entry is through double doors at the corner of Florence Road and St Catherine's Street, leading into the main bar area. The restaurant can be accessed either through the main bar or via a separate entrance off Florence Road.

Fixtures & Fittings

All trade fixtures and fittings are included in the sale, except for some personal effects. An inventory will be provided once an offer has been accepted.

External Details

To the rear of the property lies a courtyard area which offers convenient access to the ground floor external beer cellar.

Owners Accommodation

Arranged over the first floor is a flat is brand new, newly rewired, re plumbed, not lived in self-contained residential accommodation which is accessible via a central staircase located behind the bar servery. This well-appointed living space includes three double bedrooms and two bathrooms. The accommodation also features a fully equipped domestic kitchen, a comfortable living room, and a bathroom.

The Opportunity

The Florence Arms has been an established pub in Portsmouth for decades, renowned for its inviting atmosphere and high-quality offerings. Recently, the pub underwent a full refurbishment and is now under management. The newly renovated residential accommodation is perfect for hands-on owner-operators or investors. It also offers the flexibility to be converted into letting accommodation (STPP), providing an additional income stream. The business operates with a trade split of 46% wet 54% dry, showcasing a balanced and profitable operation. This opportunity is ideal for those looking to invest in a thriving business with a strong community presence.

Staff

The business benefits from a complement of staff who can transfer with the business.

Trading Hours

Monday to Thursday 12:00 - 23:00 Friday to Saturday 12:00 - 00:00 Sunday 12:00 - 23:00

Tenure

The Freehold to be sold as a trading going Concern (TOGC) inclusive of fixtures and fittings with stock in addition at valuation (SAV). The property is also being offered on a new free-of-tie lease on a fully repairing and insuring basis, with an annual passing rent of £60,000pa

Business Rates

The Rateable Value as per the April 2023 Ratings List is £24,000. Confirmation of actual rates payable should be sought from the Local Authority.

Regulatory

Premises Licence. Any prospective purchaser must have a Personal Licence and apply for transfer of Premises Licence at their own expense.