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Black Horse Inn, Swaffham Bulbeck

35 High Street
Swaffham Bulbeck
Cambridgeshire
CB25 0HP

Trading Style : Destination community wet
Ingoing funds : 20k - 30k


Highlights:
• Traditional country inn situated on village green.
• 9 letting rooms.
• 60 covers.
• Well equipped commercial kitchen.
• Separate bar & restaurant areas.
      


LOCATION
The Black Horse Inn is situated in Swaffham Bulbeck, a village between Cambridge & Newmarket. The village has approximately 1,000 residents. It is 8 miles from Cambridge & 6 miles from Newmarket. The village is conveniently located close to the A14 & A11 dual carriageways.

PUB OVERVIEW
The Black Horse Inn benefits from several income streams & as such presents a fantastic business opportunity. A proactive approach to trade building has seen the pubs sphere of influence increase over the current operators tenure. At present the site is attracting drinkers, diners & a mix of clientele for the letting rooms. The close proximity to both Cambridge & Newmarket make it an attractive destination for both eating & staying. This site represents the quintessential country inn.

PROPERTY

• 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.

BUSINESS POTENTIAL
The site currently benefits from a good local trade. It is important to sustain that trade by offering socially focused events to maintain the pubs position as the hub of the community. 


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
OFFERED

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. 

PREMISES LICENCE
There is a current premises license in place for alcohol and regulated entertainment, with licensing hours being 1100 to 0000 Sunday to Thursday and 1100 to 0100 Friday to Saturday. A copy of the license will be made available for applicants to view.

BUSINESS RATES
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

£8000

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.

£25000

Stock and Glassware in the region of
(paid to the outgoing licensee on the day of changeover) to cover the value of opening stock.

£3000

Valuers Fees in the region of
(paid to valuer) for valuing fixtures and fittings.

£800

Training Course Fees per person
(payable to Charles Wells Ltd) 5 day CRISP induction course mandatory for all licensees – NB £800 for two people.

£550

Administration Fee in the region of
(payable to Charles Wells Ltd in advance) to cover e.g. premises license changes, solicitors fees and agreement.

£750

Advance Rent in the region of (usually 1 month) 

£2916

Minimum Working Capital Required 

£10000

APPROXIMATE TOTAL
Please note that these are estimated figures, given as a guide only, includes fixtures and fittings.

£51016

 

ONGOING COSTS

Rent in the region of
(payable monthly in advance)

£35000 pa

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)

£1820 pa

Accountancy Services in the region of
fees for nominated accountant

£2600 pa

Stocktaking Services in the region of
We recommend all licensees should have six professional stocktakes per annum

£1560 pa

Please note that these are estimated figures, given as a guide only.
Goods and services may be subject to VAT.

PERSONAL LICENCE
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

PEAT
You will also need to complete the online BII Pre-Entry Awareness Training (PEAT) course, which has been introduced to help prepare new licensees for taking on their own pub. Applicants will be asked to provide evidence that they have completed the course before they can be offered a pub. Details can be found online on the BII website at www.bii.org/peat

APPLICATION FORM
To make an application for this business opportunity, please complete an application form and return it to us as quickly as possible. You can apply online, by post or by calling Philippa Stanbrdige on 01234 244423 or via email at retailrecruitment@charleswells.co.uk. Please fill in as fully as possible and give us a call if you’ve any queries.

INITIAL INTERVIEW
When we’ve had a chance to consider your application, you may be invited to attend an initial interview. This will give you and Charles Wells the chance to learn more about each other. You will also have the opportunity to ask any questions you have.


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.

APPOINTMENT
If your application is successful, an offer will be made and confirmed in writing. This will include the legal position or ‘Heads of Terms’ of the appropriate agreement. You’ll be expected to attend our five day retailer induction course (CRISP). This will help prepare you for your new business venture and you’ll meet a number of key Charles Wells staff. If this is your first tenanted or leased pub, we also offer the chance to spend time with one of our experienced retailers in their pub.

BUSINESS SUPPORT
Charles Wells provides a high level of business support, some of which will be provided through the Monthly Service Charge.
• AWP Consultancy
• Short term loans for business purposes
• Technical Services
• Accountancy support / stocktaking
• Payroll support
• Training courses
• Wine List Planning
• Licensing
• Facilities and Compliance review
• Central point of contact through customer helpdesk

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.