Horseshoes Wellingborough

36 Sheep Street, Wellingborough, NN8 1BS

  • Horseshoes Wellingborough
  • Horseshoes Wellingborough
  • Horseshoes Wellingborough
  • Horseshoes Wellingborough
  • Horseshoes Wellingborough
  • Horseshoes Wellingborough
  • Horseshoes Wellingborough
  • Horseshoes Wellingborough
  • Horseshoes Wellingborough
  • Horseshoes Wellingborough
  • Horseshoes Wellingborough
  • Horseshoes Wellingborough
  • Horseshoes Wellingborough
  • Horseshoes Wellingborough

Horseshoes Wellingborough

Stylish Destination Pub with a focus on Live Entertainment

The pub is located around 200 feet from the town centre and benefits from the extra footfall from shoppers and surrounding local businesses. With a very imposing frontage and quite distinctive style, a mix of rendered and wood the pub has great kerb appeal. The Castle theatre is within half a mile so the introduction of a quality, value menu could capture pre theatre goers as well as the lunch time shoppers. Currently popular for its range of cask ales, coverage of live sports and pub games. Well known for music at the weekends but this area could be expanded upon as well promoting the function room to create further income stream.

The extensive refurbishment planned for this site will significantly enhance the potential of the business, with a revamped food and drink offer creating a stylish destination pub. A total transformation of the pub will take place, in order to attract a more varied clientele. There will be multiple income streams and a fabulous rear courtyard complete with a gin/cocktail bar. Premium beers and an eclectic range of wines and spirits will be complemented by a quirky food offering, including sharing platters and brunch. Live music will also be a part of the offering in order to pull in customers and drive spend

Horseshoes will attract local people and visitors from nearby towns. The aim is to create a stylish destination pub that will appeal to those who are looking for a quality experience.

Local entrepreneur required!

We are looking for an experienced operator with local knowledge and the ability to develop the already popular live entertainment programme. Experience in putting together a good quality food offer would also be an advantage. We would like to see you bring your own ideas and flair to make the most of this great opportunity.

Pub Features

  • Rolling Tenancy
  • Function Room
  • Music Venue
  • Outdoor Trade
  • Private Accommodation
  • Pub Games
  • Cask Ale
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

Internally the bar dining area will undergo full redecoration, including feature wall finishes and new furniture. The existing fixed seating will be stripped out and new booth seating with individual TVs and a wall-to-ceiling feature will be added. Works to the live music area will include a new timber effect chevron vinyl flooring will be added throughout. A full redecoration throughout will include exposed brickwork and artwork/sign-writing decoration to wall surfaces, new furniture and lighting. A specialist wall covering/digital wall-art will be added and New poseur furniture will be introduced. the snug will also have full redecoration, including new poseur furniture, re-covering of fixed seating and industrial style artwork decoration.

Externally a full new signage and lighting scheme will be introduced. The existing pergola for the covered terrace will be retained, although the polycarb over it will be replaced and the timber frame will be painted. Twinkle lighting and planting will be added. The open terrace will be repaired and cleaned, existing benches will be painted in bright colours,while new planting to the perimeter walls and fencing will be introduced. Festoon lighting over the terrace will be added.

Works to the outbuilding will include the following; a new bar counter and lockable backbar 'gin distillery' style display will be formed. New furniture and lighting will be added, and branded artwork will feature on the interior brick walls. A glass-wash will be installed, along with bottle coolers and a freezer for ice. This will allow bottles, gin and cocktails to be served. A new tiled floor will be added, along with safety vinyl flooring for the bar counter.

Applicants should be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process.

Where a significant investment is made in a pub by Star Pubs & Bars, an "Investment Exemption" will be required. The exemption means that the option of a Market Rent Option lease won't be available at rent review for a period of up to seven years for this site, as per The Pub Code (2016).




Private Accommodation

The private accommodation consist of 3 bedrooms, kitchen & bathroom and a Lounge. In line with our Ready to Trade Promise, we will ensure the private accommodation is in good condition, so that you can focus on your business.

Premises Licence Details

Please refer to the Premises Licence for full details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
07:00 - 04:00 07:00 - 04:00 07:00 - 04:00 07:00 - 04:00 07:00 - 04:00 07:00 - 04:00 07:00 - 04:00

Financials

Annual Rent £
60,500
Estimated Annual FMOP (Licensee Profit) £
63,116
Representative HEINEKEN UK Brand Discount Per Barrel £
150
Estimated Annual Turnover £
711,971
Estimated Annual Barrelage
319

“The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details).

** All figures quoted are exclusive of VAT

*** FMOP = Fair Maintainable Operating Profit

Investment

Ingoing Costs
Estimated Licensee Fixtures & Fittings Value £
83,904
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
5,000
Deposit Amount £
15,125
Rent In Advance £
1,163
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
60
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
107,387
Estimated Minimum Ingoing Costs £
85,633

In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.

The Estimated Licensee Fixtures & Fittings (F&F) Value assumes that the pub will be let on a Rolling Tenancy or Business Start-Up Agreement, where we own the majority of the F&F. The F&F Value for Full Repairing & Insuring Leases will be significantly more.

The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent or £3,000 (whichever is greater) and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs are not included in the rent model or ongoing costs below.

Other SP&B Ongoing Charges
Estimated Annual Buildings Insurance £
2,456
Estimated Annual Maintenance Compliance Charge £
TBC
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
6,108

The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details)

* All figures quoted are exclusive of VAT

** Deposit build up will be payable over a maximum of 24 months

*** Fixtures and Fittings annual rental fee should be estimated at 15% of the F&F value. The actual F&F value will be determined on the day of entry

**** Maintenance Compliance Charge relates to the fees for various statutory inspections

***** Estimated Legal Fees is a charge applied to your account by SP&B for creation of your Lease. You are required to engage and pay for your own solicitor - your solicitor's fees are not included in the above estimate

****** The above figures assume that rent is billed weekly in advance and that Star Pubs & Bars retain ownership of large fixtures and fittings. Initial costs for a Fully Repairing and Insuring lease will be higher as rent is invoiced monthly in advance and all fixtures and fittings must be purchased