Star Pubs Leased & Tenancy
Location
Wigston, Leicestershire | United Kingdom
Job description
Pub Overview
Refurbishment Planned New Deal available - With lower ingoing costs and high discount on draught beers this is a great opportunity to grow an already established drinks trade at this centrally based pub.
What would you do with this pub to make it even more of a success?
The area The Old Crown Inn is positioned on a busy main road in the town of Wigston, close to Wigston's main shopping centre. The pub is surrounded by residential housing.
The pub benefits from being one of 5 pubs found in an area of around 4091 adults. The mature customer base is made up of local residents from the community.
The offer The Old Crown Inn is available on our investment tenancy agreement. Click here for more information on this agreement . The potential of this pub lies in developing a value driven 100% wet led offer. What drinks would you look to implement in the pub?
The site currently has the ability to drive trade via Selection of pub games, it has its own skittle alley and It offers a selection of cask and craft ales.
We're always open to new ideas, what would you do to drive trade? Attitude is more valuable than experience. If you've got the following, we'd love to hear from you.
- Understanding of the local community
- Understanding of how to build a successful business
- Ability to engage with customers from behind the bar
If this sounds like the incredible pub opportunity you've been waiting for, apply today and tell us what you can bring to this pub's next chapter…
Important note on financials - we are seeking 6 months' rent deposit on this pub rather than our usual 3 months. Also, unlike our standard terms for Investment Tenancies, we are offering reduced ingoings on this pub. You can rent the F&F and pay three month's rent as a deposit with a deposit build up to be agreed as part of the negotiations.
Features - New Deal
- Investment Tenancy
- Function Room
- Cask Ale
- Pub Games
- Car Park
- Private Accommodation
Trading Area & Facilities The Old Crown Inn will be undergoing a refurbishment which will cover the interior and exterior of the pub.
The refurbishment works will include:
- Redecorate and tidy up painted brickwork
- New additional external benches, tables, chairs and parasols
- Repair and redecorate timber window frames
- New fence and gate with festoon lights over
- New carpet & timber effect Karndean flooring in lounge
- New furniture and re-decorate
- New tile effect Karndean flooring in the bar
- New mid height seating to window bay.
- New timber effect vinyl flooring in Sports area
- New TV positions.
The pubs trading area and facilities post refurbishment will be:
- Main trading area with bar
- Separate lounge area
- 45 internal covers
- 74 external covers
- Skittle Alley which can also be used for basic functions
- Smart Dispense
- Small decking area to rear
- Car Park with 10 spaces
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 Private accommodation consists of 2 double bedrooms, a living room, kitchen, bathroom and office
Pub Financials Annual Rent £
14,262
Estimated Annual Turnover £
210,310
Deposit £
7,131
Estimated Fixtures & Fittings Value £
15,000
Estimated Stock Valuation £
3,500
Estimated Working Capital £
3,500
Estimated Total Ingoing Costs £
29,131
Estimated Minimum Ingoing Costs £
10,566
The above figures are provided as a guide only and will be finalised as part of the commercial agreement. All figures quoted are exclusive of VAT.
Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
Job tags
Salary
