Star Pubs Leased & Tenancy
Location
Wakefield, West Yorkshire | United Kingdom
Job description
Pub Overview
Fantastic Refurbishment Planned! A full refurbishment of the trade area and toilets will create a much more premium look and feel, complimented by works to the kitchen, to enable the next operator to create a brilliant food offer. A new name will signify the brand new, contemporary offer - appealing to customers looking for that modern twist on the Great British Pub!
Vibrant City Centre Location Wakefield City Centre is a great busy city with a vibrant night life. The Talbot is located in Wakefield City Centre, in a prime location just off The Bull Ring. There are over 4,000 people living just a 10 min walk time from The Talbot, as well as thousands of people that commute to the city centre to work, shop, or socialise. The Talbot is close to both the Bus and Train links.
Tap into this pub's potential! The Pub has 3 income streams - Drinks, Food and Accommodation. There are letting rooms on the 1st and 2nd floors, meaning the refurbished Talbot has huge potential for an operator to offer a premium food and drinks offer in a prime city location. The location, the offer and the look and feel of the refurbished Talbot will make stand head and shoulder of the other traditional wet pubs in the city centre.
Target Customers: When refurbished, the Talbot will appeal to:
- City centre dwellers
- Commuters
People visiting the city looking for a premium food and drink offer
Offer: When refurbished, the Talbot will offer:
- Premium cask, craft ales, cocktails, wines & spirits
- Sharing boards, small plates, and a coffee offer to drive midweek trade
- Occasional entertainment
Experienced Operator Wanted! If you've benefited from running or owning a pub business, we'd love to hear what experience you can bring.
The right operator for the pub will have extensive experience in a similar hospitality business. They will have a clear vision for the pub and can create a memorable experience for their customers.
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…
Features - Letting Rooms
- Live Sports
- Music Venue
- Catering Kitchen
- Investment Tenancy
- Private Accommodation
- Refurbishment Planned
Trading Area & Facilities The Talbot & Falcon will benefit from a full refurbishment of the trade area and toilets, with works also being done to the kitchen. For a full summary of planned works, please review the 'Refurbishment Details' in the downloads section.
Please 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. This 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. This applies to all pubs in England & Wales as per The Pub Code (2016).
Private Accommodation The private accommodation consists of bedrooms, kitchen, bathroom and lounge.
Pub Financials Annual Rent £
29,381
Estimated Annual Turnover £
435,833
Deposit £
7,345
Estimated Fixtures & Fittings Value £
28,500
Estimated Stock Valuation £
8,000
Estimated Working Capital £
3,500
Estimated Total Ingoing Costs £
47,345
Estimated Minimum Ingoing Costs £
47,345
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.
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