Gallery View
View on Map
Key Highlights
- Profit potential in the region of £59000 per year
- Prominent 100-cover property with strong kerbside appeal on the outskirts of Kempston.
- Excellent business opportunity for an experienced destination food operator.
- Development opportunities considered
- Payment plan available for fixtures and fittings
Pub Overview
Grade II listed in 1962, the King William IV dates back to the 1600s, making it one of the oldest buildings in Kempston and something of a local institution, attracting a loyal local crowd from Kempston as well as regular visitors from nearby Bedford and Milton Keynes. With a reputation built upon wholesome, traceable and sustainable quality pub food, the King William is renowned for its warm welcome and enticing environment, not to mention its versatility. Flagstone floors and a feature fireplace give it all the charm you’d expect of a delightful country pub, yet its space-efficient interior layout makes it a preferred venue for everything from coffee mornings to business meetings, and not forgetting its legendary Sunday night quiz. Meanwhile the spacious rear garden, accommodating a dozen wooden benches, is the perfect spot to enjoy a drink in the summer months.
Suitable Applicants
The King William IV has incredible potential for a modern operator who understands both town and village life and is keen to become an integral part of their local community. A strong focus on food is essential to build upon the pub’s already strong dining reputation, as is an eye on events and a passion for great cask ale. The site is currently trading around £325,000 per annum, of which 48% is wet trade and 52% is dry. Please note that these figures are for guidance purpose only.
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 |
£9,250
|
| 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. |
£20,000 |
| Stock and Glassware in the region of (paid to the outgoing licensee on the day of changeover) to cover the value of opening stock. |
£6,000 |
| 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. |
£400 |
| Advance Rent in the region of (usually 1 month) |
£TBC |
| Minimum Working Capital Required |
£10,000 |
| APPROXIMATE TOTAL Please note that these are estimated figures, given as a guide only, and do not include fixtures and fittings. |
£27,000 |
Ongoing Costs
| Rent in the region of (payable monthly in advance) |
£37,000 pa |
| 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) |
£1,820 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
