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Key Highlights
- Prominent high street location with great kerbside presence
- Established, profitable business with loyal customer base
- Attractive and well cared for bar area offering a flexible trading space
- Enclosed rear courtyard patio area
- Payment plan available for fixtures and fittings
Pub Overview
The Spread Eagle presents an enticing opportunity to take on a popular community-focused local pub. Located on the Wellingborough Rd, within easy reach of Northampton town centre, the pub forms a key part of the area’s local social scene, with numerous other local bars, pubs and restaurants helping to attract customers from across the region.
With an established level of trade already in place thanks to the previous long-term operator, a catering kitchen and an enclosed rear patio area, the pub attracts a varied clientele; loyal locals drawn by the range of food and Charles Wells ales on offer are joined by weekend visitors attracted by the pub’s strong local reputation for live entertainment.
With the benefit of 3 good sized bedrooms and an office.
Suitable Applicants
The Spread Eagle would suit operators committed to providing great hospitality, with a desire to engage with their local community, enhance the pub’s food offer and build upon its already strong reputation for live music and entertainment. Marketing know-how to promote this events programme is a must, as is a desire to uphold the high service standards for which the pub has long been renowned.
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 |
£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. The successful applicant must reply upon the valuation provided by their appointed licensed trade valuer in relation to the actual sum to be paid. |
TBC |
| Stock and Glassware in the region of (paid to the outgoing licensee on the day of changeover) to cover the value of opening stock. |
£4,500 |
| 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. |
£500 |
| Administration Fee in the region of (payable to Wells & Co. Ltd in advance) to cover e.g. premises license changes, solicitors fees, and agreement. |
£450 |
| Advance Rent in the region of (usually 1 month) |
£TBC |
| Minimum Working Capital Required |
£10000 |
| APPROXIMATE TOTAL Please note that these are estimated figures, given as a guide only, and do not include fixtures and fittings. |
£22,000 |
Ongoing Costs
| Rent in the region of (payable monthly in advance) |
£21,000 |
| 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) |
£2,045 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
Could this be the pub for you?
Please ring 01234 244453 to speak with our recruitment team
