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- Profit potential in the region of £24,000 per year
- Two-bar operation offering both traditional pub games and a cosy dining experience
- Enclosed secure garden and ample parking
- Stunning living accommodation
- Two months commercial rent free, with payment plan available for fixtures and fittings
The heart and soul of the charming Bedfordshire village of Wilstead, the Red Lion is renowned locally for its welcoming, family-friendly atmosphere, quality traditional food offer and great beer selection. Private functions are frequently catered for, and the pub’s busy social calendar offers something to suit all interests.
The pub functions as a social hub for sports fans, team events, charity festivals and weekly entertainment; two centrally-serviced bars and two gardens lend the site real versatility, with ample parking for all. Whether looking to enjoy a televised sporting event with kindred spirits, or a relaxing family meal in a homely environment, the Red Lion has something to offer all comers.
The Red Lion would suit an experienced, community-focused operator with the drive to maintain the pub’s current high level of footfall via an extensive weekly activity programme. Strong commercial and financial skills must complement a commitment to providing fantastic hospitality; catering know-how would also be advantageous.
ANTICIPATED INVESTMENT REQUIRED
We estimate the Investment required for this pub would be as follows:
|APPROXIMATE TOTAL Please note that these are estimated figures, given as a guide only, and do not include fixtures and fittings.||£17,750|
|Security Deposit Approximate figure, paid in advance to Wells & Co. Ltd held to cover credit and rental charges. Returnable at the end of the agreement.||£7,000|
|Stock and Glassware In the region of (paid to the outgoing licensee on the day of changeover) to cover the value of opening stock.||£3,000|
|Valuers Fees In the region of(paid to valuer) for valuing fixtures and fittings.Minimum working capital required||£800|
|Training Course Fees per person(payable to Wells & Co. Ltd) 5 day 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)||£200|
|Working Capital Minimum working capital required||£6,000|
|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.||£20,000|
ANTICIPATED RETAINED INCOME
|Rent In the region of (payable monthly in advance)||£24,000pa|
|Service Charge Payable monthly, to include: Cellar cooling service, Buildings insurance, Fire Compliance, Boiler maintenance (tenancies only). NICEIC Electrical Test (tenancies only)||£2,446pa|
|Accountancy Services fees for a nominated accountant||£2,300pa|
|Stocktaking Services Six professional stocktakes per annum||£1,560pa|
Could this be the pub for you?
Please ring 01234 244453 to speak with our recruitment team