35 High Street
Trading Style : Destination community wet
Ingoing funds : 20k - 30k
• Separate letting rooms to rear of pub.
• Three distinct trading areas.
• Well equipped commercial kitchen.
• Large domestic accommodation.
The site is well equipped as a traditional country inn. Internally there are three distinct trading areas. Upon entrance the restaurant sits to the left with direct access to the commercial kitchen to the rear. To the right lies the bar area with informal seating which can also be utilised for dining. Off this lies a conservatory affording further covers. To the rear of the site there is an accommodation block arranged in a courtyard housing 7 of the letting rooms, all of which are en suite. On the first floor there are a further 2 letting rooms & access to the domestic accommodation. The domestic accommodation comprises kitchen, lounge & bathroom/utility room on the first floor with two bedrooms, one with en-suite, on the second floor.
Opportunity lies in developing both the food offer & accommodation. While occupancy rates are strong there is scope to increase revenue by targeting local businesses, in particular within the horse racing industry.
The current operators have elected not to use the two letting rooms within the main building. Bringing these into use could improve revenue from the accommodation. Equally a strong food offer with focus on quality & consistency can help to increase spend per head. The Black Horse can reach a turnover of £335,000 net per annum based on a 55 /30/15 split (wet/dry/accommodation).SUITABLE APPLICANTS
The ideal applicant should be committed to providing excellent hospitality to new customers, able to engage with the local community & drive sales through a range of activities. Experience of retail catering & hospitality is critical in the running of the Black Horse. A strong vision & understanding of marketing is important to ensure that the retail offer is well promoted in the local area.TERMS OF TENANCY/LEASE
A 3 year fixed term or renewable tenancy agreement is offered with a full tie to buy all drinks (beer, wines, spirits, minerals, stouts and ciders) from Charles Wells Ltd. A long term fully insuring and repairing lease agreement would be considered for a well-funded and experienced applicant.
Information about current business rates can be found at www.voa.gov.uk We always encourage our licensees to challenge rates by using Gerald Eve, our nominated specialist.
ANTICIPATED INVESTMENT REQUIRED
We estimate the Investment required for this pub would be as follows:
|Security Deposit in the region of|
(paid in advance to Charles Wells Ltd) held to cover credit and rental charges. Returnable at the end of the agreement, or £10,000 if Ltd company
|Fixtures and Fittings estimated valuation (paid to the outgoing licensee via the valuer at least 7 days in advance) to purchase e.g. carpets, curtains, tables and chairs, kitchen equipment. The successful applicant must reply upon the valuation provided by their appointed licensed trade valuer in relation to the actual sum to be paid.|
|Stock and Glassware in the region of|
(paid to the outgoing licensee on the day of changeover) to cover the value of opening stock.
|Valuers Fees in the region of|
(paid to valuer) for valuing fixtures and fittings.
|Training Course Fees per person|
(payable to Charles Wells Ltd) 5 day CRISP induction course mandatory for all licensees – NB £800 for two people.
|Administration Fee in the region of|
(payable to Charles Wells Ltd in advance) to cover e.g. premises license changes, solicitors fees and agreement.
|Advance Rent in the region of (usually 1 month) |
|Minimum Working Capital Required |
Please note that these are estimated figures, given as a guide only, includes fixtures and fittings.
|Rent in the region of|
(payable monthly in advance)
|Service Charge in the region of|
Payable monthly, to include: Cellar cooling service, Buildings insurance, Fire Compliance, Boiler maintenance (tenancies only). NICEIC Electrical Test (tenancies only)
|Accountancy Services in the region of|
fees for nominated accountant
|Stocktaking Services in the region of|
We recommend all licensees should have six professional stocktakes per annum
Please note that these are estimated figures, given as a guide only.
Goods and services may be subject to VAT.
If you’re planning to run a pub you’ll need a Personal Licence. If you don’t already have one, you should start making enquiries to take the one day course and exam to get the Award for Personal Licence Holders (APLH). For information on getting a Personal Licence and training courses available, please look at http://www.charleswellspubs.co.uk/static/training or phone us for the relevant details
|BUSINESS, FINANCE & MARKETING PLAN & 2ND INTERVIEW|
If your initial interview is successful, we’ll ask you to prepare a business plan for the pub for presentation at a 2nd interview. You’ll need to include your ideas for developing the pub’s potential and must also include the source of funding for purchasing the business and any developments that may be needed.
|MISREPRESENTATION ACT 1967|
Charles Wells Ltd gives notice that the contents of these particulars are believed to be correct but are given without responsibility and intending purchasers or lessees should satisfy themselves by inspection or otherwise to their correctness. These particulars do not form any part of any offer or contract and no person in the employment of the company has any authority to make or give representation of warranty to this property.