Gallery View
Key Highlights
- Established ‘late night venue’ in the heart of the towns busy night time trading area
- £70k+ potential partner profit
- Two-bar operation with potential to grow functions and private parties
- Roof terrace and fully equipped DJ booth
- Wells & Co to invest over £150,000 in the site
Pub Overview
The Kelso has mainly been run as a late night venue, with DJs three nights a week. There are two bars; the main one on the street level, the second upstairs and links to the roof terrace. This could be used as part of normal trading area at the weekends or for private parties, for group bookings and organisations. The upstairs bar has a number of different sections that could be used as private or VIP areas.
Suitable Applicants
The Kelso deserves an astute and experienced nighttime operator who can get the venue back to its full potential following the pandemic. An understanding of both the local music scene and customer base will be key to ensuring a safe, dynamic and desirable experience for guests and staff alike.
Financial Overview
ANTICIPATED INVESTMENT REQUIRED
We estimate the Investment required for this pub would be as follows:
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APPROXIMATE TOTAL Please note that these are estimated figures, given as a guide only, and do not include fixtures and fittings. |
47,200 |
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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 |
18750 |
|
Stock and Glassware In the region of (paid to the outgoing licensee on the day of changeover) to cover the value of opening stock. |
6000 |
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Valuers Fees In the region of( paid to valuer) for valuing fixtures and fittings.Minimum working capital required |
800 |
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Training Course Fees Per person (payable to Wells & Co. Ltd) 5 day induction course mandatory for all licensees – NB £800 for two people |
n/a |
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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) |
6250 |
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Working Capital Minimum working capital required |
15000 |
|
Fixtures and Fittings Estimated valuation to purchase e.g. carpets, curtains, tables and chairs, kitchen equipment. |
40-50k |
ANTICIPATED RETAINED INCOME
|
Drink Sales FMT |
|
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Food Sales FMT |
|
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Accommodation FMT |
|
|
FMT = Fair Maintainable Trade |
Ongoing Costs
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Service Charge Payable monthly, to include: Cellar cooling service, Buildings insurance, Fire Compliance, Boiler maintenance (tenancies only). NICEIC Electrical Test (tenancies only) |
3077 |
|
Accountancy Services fees for a nominated accountant |
4010 |
|
Stocktaking Services Six professional stocktakes per annum |
1600 |
|
Rent In the region of (payable monthly in advance) |
75000 |
Pub Details
Could this be the pub for you?
Please ring 01234 244453 to speak with our recruitment team
