• Stunning Thatched Pub in the beautiful village of East Haddon
• 7 stylish letting rooms
• Recently decorated, bar and eating area, with further attractive restaurant areas, including private dining room.
• Large attractive garden to the rear of the pub leading from the restaurant
• Turnover in excess of £775,000 per annum
The Red Lion is an award-winning, food-led destination pub in the affluent Northamptonshire village of East Haddon. The Red Lion offers a golden opportunity for a new operator to enjoy a fantastic established business & capitalise upon its extensive trading area. Boasting seating for 84 covers, 7 letting rooms and a large garden area to the rear and adjacent to the rear car park. There is also a small patio for al fresco dining to the side of the pub, supported by a fully equipped trade kitchen and cellar. The pub’s dining credentials are clear to see, within the main bar, restaurant, and private dining room; drinkers meanwhile are catered for by a lounge style area as you first enter the premises.
Whether guests are looking for a quiet morning coffee, a few drinks with friends, and stay vacation, a business stayover or a memorable dining experience, The Red Lion has something to delight all who wish to visit.
The Red Lion has so much to offer an experienced operator with the vision to take full advantage of its beautiful facilities, location and inviting look and feel.
Experience of operating a food-led business is absolutely essential, while the skill set to effectively market all the pub has to offer will create new opportunities for The Red Lion.
The successful operator will need strong commercial and financial skills that are complemented by a passion for providing fantastic hospitality and the creativity to grow the business from multiple revenue streams.
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.||43.167|
|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. Note - If the business is to be run as a limited company, personal guarantors from each company director are required.||20,600|
|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.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||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||400|
|Advance Rent In the region of (usually 1 month)||6,867|
|Working Capital Minimum working capital required||10,000|
|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.||50,000|
ANTICIPATED RETAINED INCOME
|Service Charge Payable monthly, to include: Cellar cooling service, Buildings insurance, Fire Compliance, Boiler maintenance (tenancies only). NICEIC Electrical Test (tenancies only)||3,513|
|Accountancy Services fees for a nominated accountant||4.010|
|Stocktaking Services We recommend all licensees should have six professional stocktakes per annum||1,600|
|Rent In the region of (payable monthly in advance)||82,400|