Gallery View
Key Highlights
• Stunning site with an affluent demographic profile
• Significant recent capital investment both internally and externally
• Large garden, patios areas and car park
• Payment plan may be negotiated for Fixtures and Fittings
• Ten minute drive from the M1 Junc 12
Pub Overview
The Compasses is a quality destination food business, with a well established reputation. The business benefits from a one bar operation to the front, with 16 covers, and a 60 cover open plan restaurant to the rear of the property, Externally the business has a very large garden area with patio to the rear along with a delightful patio area to the front, estimated an additional 100 external covers in total, ideal for that alfresco dining. It has recently seen much capital investment from both Wells and Co and the current business operator. It has a fully equipped commercial catering kitchen, and a good sized ground floor cellar.
Suitable Applicants
The Compasses would suit an experienced food operator, motivated to embrace village life and to enhance the pub’s already strong status as the heart of the local community. Consistently high standards and an unwavering focus on customer satisfaction are both essential.
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 |
£29,700 |
|
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) |
£12,000 |
|
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 |
|
Working Capital Minimum working capital required |
£8,000 |
|
Stock & Glassware In the region of to cover the value of opening stock |
£4,000 |
|
Valuers Fee In the region of (paid to valuer) for valuing fixtures and fittings. |
£800 |
|
Advanced Rent In the region of (usually 1 month) - negotiable |
£4,000 |
|
Fixtures & Fittings Estimated valuation to purchase e.g. carpets, curtains, tables and chairs, kitchen equipment (£ est) |
£45,000 |
Ongoing Costs
|
Service Charge Payable monthly, to include: Cellar cooling service, Buildings insurance, Fire Compliance, Boiler maintenance (tenancies only). NICEIC Electrical Test (tenancies only) |
£1,820 |
|
Accountancy Services Fees for a nominated accountant (in the region of) |
£2,600 |
|
Stocktaking Services Six professional stocktakes per annum recommended |
£1,560 |
|
Rent In the region of (payable monthly in advance) |
£48,000 |
Could this be the pub for you?
Please ring 01234 244453 to speak with our recruitment team.
