Gallery View
Key Highlights
- Great location on the High Street in Old Town Hemel with 9 guest rooms
- Commercial kitchen in place to support food offer and growth
- Great external space for drinking & dining with outside bar
- Great links to surrounding areas helping drive room sales
- Great decoration through the internal trade space
Pub Overview
The Olde Kings Arms is a very well presented pub finished to a high standard and ready to trade with a well equipped commercial kitchen and enclosed garden to the rear with an outside bar. The pub benefits from 2 bars and trade areas both suitable for drinking & dining giving a very versatile trade space that offers a relaxed and inviting customer experience.
The pub also benefits from 9 letting rooms which given its proximity to London transport links and Luton Airport as well as the business hubs in and around Hemel, are a real asset to the pubs offer.
Suitable Applicants
Experienced pub operators required with experience in both the wet and food side of the pub business and familiar with town centre challenges.
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 |
£33,000 |
|
Security Deposit Payable in advance to Wells to cover charges incurred by your business - trading as a Ltd Co |
£12,000 |
|
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 |
|
Working Capital Minimum working capital required |
£10,000 |
|
Stock & Glassware In the region of to cover the value of opening stock |
£6,000 |
|
Valuers Fee In the region of (paid to valuer) for valuing fixtures and fittings |
£800 |
|
Advanced Rent In the region of (usually 1 month) |
£4,000 |
|
Fixtures & Fittings Estimated valuation to purchase e.g. carpets, curtains, tables and chairs, kitchen equipment (£ est) |
£25,000 |
ANTICIPATED RETAINED INCOME
|
Drink Sales 53% |
|
|
Food Sales 22% |
|
|
Accommodation 25% |
|
|
FMT = Fair Maintainable Trade |
Ongoing Costs
|
Service Charge Payable weekly, to include: Cellar cooling service, Extract clean x 3, Buildings insurance, Fire Compliance, Boiler maintenance & Electrical Test (tenancies only) |
£4,000 |
|
Accountancy Services Fees for a nominated accountant (in the region of) |
£4,000 |
|
Stocktaking Services Six professional stocktakes per annum recommended |
£1,350 |
|
Rent In the region of (payable weekly in advance) |
£923 p/w |
Pub Details
Is this the pub for you?
If you would like to speak to our recruitment team please contact us on 01234 244453 or use our enquiry form.
