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Key Highlights
Two months rent free, with payment plan for fixtures and fittings.
• Attractive period pub within bustling, affluent town of Saffron Walden.
• Located minutes from the town centre.
• Prominent corner position within residential area.
• Major refurbishment planned to entice premium clientele.
Pub Overview
First opened in 1865, The Railway is something of a Saffron Walden institution and a pub close to the hearts of many in the local area. Situated in a high footfall location on the edge of the town centre, the site is ideally positioned to appeal to commuters and affluent local residents alike. Following the extensive planned refurbishment, there will be a real opportunity to attract the affluent local population by introducing a premium drinks range and a distinctive, targeted food offer.
Suitable Applicants
This is an ideal opportunity for retailers who have the skill set to drive a premium, community, drinks-led business. The ability to introduce a relevant food offer and create engaging reasons to visit is essential. Applicants must also have a strong understanding of marketing to drive awareness of the improvements to the property and retail offer.
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 Wells & Co. Ltd) held to cover credit and rental charges. Returnable at the end of the agreement, or £10,000 if Ltd company |
£7,125
|
| 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. |
£35,00 |
| Stock and Glassware in the region of (paid to the outgoing licensee on the day of changeover) to cover the value of opening stock. |
£4,000 |
| Valuers Fees in the region of (paid to valuer) for valuing fixtures and fittings. |
£800 |
| Training Course Fees per person (payable to Wells & Co. Ltd) 5 day CRISP induction course mandatory for all licensees – NB £800 for two people. |
£550 |
| Administration Fee in the region of (payable to Wells & Co. Ltd in advance) to cover e.g. premises license changes, solicitors fees, and agreement. |
£400 |
| Advance Rent in the region of (usually 1 month) |
£0 |
| Minimum Working Capital Required |
£5,000 |
| APPROXIMATE TOTAL Please note that these are estimated figures, given as a guide only, and do not include fixtures and fittings. |
£17,875 |
Ongoing Costs
| Rent in the region of (payable monthly in advance) |
£28,500 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
Major Refurbishment Planned and 2 months rent free offered
Could this be the pub for you?
Please ring 01234 244453 to speak with our recruitment team
