The King William IV, Kempston

The King William IV, Kempston

  • The King William IV, Kempston gallery image
  • The King William IV, Kempston gallery image
  • The King William IV, Kempston gallery image
  • The King William IV, Kempston gallery image
  • The King William IV, Kempston gallery image
  • The King William IV, Kempston gallery image
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Key Highlights

  • Profit potential in the region of £59000 per year
  • Prominent 100-cover property with strong kerbside appeal on the outskirts of Kempston.
  • Excellent business opportunity for an experienced destination food operator.
  • Development opportunities considered
  • Payment plan available for fixtures and fittings

Pub Overview

Grade II listed in 1962, the King William IV dates back to the 1600s, making it one of the oldest buildings in Kempston and something of a local institution, attracting a loyal local crowd from Kempston as well as regular visitors from nearby Bedford and Milton Keynes. With a reputation built upon wholesome, traceable and sustainable quality pub food, the King William is renowned for its warm welcome and enticing environment, not to mention its versatility. Flagstone floors and a feature fireplace give it all the charm you’d expect of a delightful country pub, yet its space-efficient interior layout makes it a preferred venue for everything from coffee mornings to business meetings, and not forgetting its legendary Sunday night quiz. Meanwhile the spacious rear garden, accommodating a dozen wooden benches, is the perfect spot to enjoy a drink in the summer months.

Suitable Applicants

The King William IV has incredible potential for a modern operator who understands both town and village life and is keen to become an integral part of their local community. A strong focus on food is essential to build upon the pub’s already strong dining reputation, as is an eye on events and a passion for great cask ale. The site is currently trading around £325,000 per annum, of which 48% is wet trade and 52% is dry. Please note that these figures are for guidance purpose only.

Financial Overview

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

£9,250

 

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.

£20,000

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

£6,000

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.

£400

Advance Rent in the region of
(usually 1 month)   

£3,083

Minimum Working Capital Required 

£10,000

APPROXIMATE TOTAL
Please note that these are estimated figures, given as a guide only, and do not include fixtures and fittings.

£30,083

 

Ongoing Costs

Rent in the region of
(payable monthly in advance)

£37,000 pa

Service Charge in the region of
Payable `onthly, to include: Cellar cooling service, Buildings insurance, Fire Compliance, Boiler maintenance (tenancies only). NICEIC Electrical Test (tenancies only)

£1,820 pa

Accountancy Services in the region of
fees for a nominated accountant

£2,600 pa

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

£1,560 pa

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

Pub Details

56 High Street, Kempston, Bedfordshire, MK42 7AL
Destination community food
Total Investment 30k - 40k
Potential Partner Profit 37k pa
Enquire About This Pub

Could this be the pub for you?

Please ring 01234 244453 to speak with our recruitment team