Gallery View
Key Highlights
- Reduced rent and £20,000 for investment
- Prominent High Street location in Kenilworth with car park and outside seating area
- Smart new kerb appeal and signage in place
- Good sized catering kitchen and dining areas
- Good sized private accommodation + staff accommodation
- BII Membership
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 staff rooms or option for letting rooms.
Suitable Applicants
The Cottage would suit operators committed to providing great hospitality, with a desire to engage with their local community, to build the pub’s food offer and focus 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, although we do offer marketing support.
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. |
£21,650 |
|
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 guarant |
£6,000 |
|
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 |
£0 |
|
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) |
£4,161pa |
|
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) |
£20,000pa |
Pub Details
Could this be the pub for you?
Please ring 01234 244453 to speak with our recruitment team
