Gallery View
Key Highlights
- Offering 3 months free rent - saving £7,375
- Prominent location in thriving Kenilworth town centre
- Additional income from 5 letting rooms
- Site is offered after recent refurbishment
- Local and loyal customer base
- Payment plan available for fixtures and fittings
Pub Overview
The Cottage presents an enticing opportunity to take on a popular community-focused local pub and benefits from live-in accommodation. Located on the approach to the centre of Kenilworth, within easy reach of the town's sizeable population, The Cottage occupies a prominent location and has a good roadside presence. There is a car park for approx 15 vehicles, a seating area with space for ten picnic benches and 5 letting rooms.
Suitable Applicants
The Cottage 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 a strong reputation for community activity. Financial know-how is required to maximise the pub’s profit potential, as is marketing experience in order to promote The Cottage's events programme to the wider area. Customer age profile is 40+ which suggests a more mature applicant would be suitable.
Financial Overview
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. |
£26,300 |
|
Security Deposit Security Deposit. Payable in advance to Wells to cover charges incurred by your business. If your business is to operate as a limited company a bond of £10,000 is required together with a personal guarantee for all directors. |
£10,000 |
|
Stock and Glassware in the region of(paid to the outgoing licensee on the day of changeover) to cover the value of opening stock. |
£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 |
£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. |
£450 |
|
Advance Rent in the region of (usually 1 month) |
£0 |
|
Working Capital Minimum working capital required |
£10,000 |
|
Fixtures and
Fittings Estimated valuation to purchase e.g. carpets, curtains, tables and chairs, kitchen equipment. The successful applicant must reply upon the valuation provided by their appointed lice |
£TBC |
ANTICIPATED RETAINED INCOME
|
Drink Sales |
60% |
|
Food Sales |
24% |
|
Room Sales |
16% |
Ongoing Costs
|
Service Charge Payable monthly, to include: Cellar cooling service, Buildings insurance, Fire Compliance, Boiler maintenance (tenancies only). NICEIC Electrical Test (or £4994.32 inc extract cleaning) |
£2,969pa |
|
Accountancy Services fees for a nominated accountant |
£3,000pa |
|
Stocktaking Services Six professional stocktakes per annum |
£2,610pa |
|
Rent In the region of (payable monthly in advance) |
£29,500pa |
Pub Details
Could this be the pub for you?
Please ring 01234 244453 to speak with our recruitment team
