Nottingham House Cleethorpes

5-7 Sea View Street, Cleethorpes, DN35 8EU

Under Offer
  • Nottingham House Cleethorpes
  • Nottingham House Cleethorpes
  • Nottingham House Cleethorpes
  • Nottingham House Cleethorpes
  • Nottingham House Cleethorpes
  • Nottingham House Cleethorpes
  • Nottingham House Cleethorpes
  • Nottingham House Cleethorpes

Nottingham House Cleethorpes

The Nottingham is a popular establishment in Cleethorpes, known particularly for its cask ale. The pub sits shore front in an area with plenty of footfall and is only a four minute walk from both Ross Castle & Cleethorpes Garden Pier. Split into three main trading areas, the pub has a traditional drinkers lounge, main bar and restaurant which can accommodate up to 30 covers.

There is the added bonus of three modest yet modern letting rooms for hire.

The potential in this pub lies within its already established reputation for cask ale and the opportunity to develop both the food offer and letting rooms.

Are you a local operator with a passion for cask ale? You will have prior experience running a similar venue and have the drive and entrepreneurial spirit to develop all three aspects of this business. Having a clear marketing strategy will be key to success with this venue.

Pub Features

  • Rolling Tenancy
  • Letting Rooms
  • Catering Kitchen
  • Private Accommodation
  • Cask Ale

Trading Area & Facilities

The pub is split into three trading areas - a main bar, drinkers lounge and dining room which can accommodate up to 30 covers. The building maintains many of its original features which add an authentic charm. The original Tetley sign can be found above the entryway.

The three letting rooms are of a good size and decorated in a modern style.

There is no outdoor trading area at the pub, however we are currently pursuing the option of a pavement licence to create the option for outdoor seating.

Private Accommodation

Please note, there is no private accommodation at this pub, however there is one room that can be used for overnight stays when the letting rooms are occupied.

Premises Licence Details

Please refer to Premises Licence for more details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
10:00 - 00:00 10:00 - 00:00 10:00 - 00:00 10:00 - 00:00 10:00 - 01:00 10:00 - 01:00 10:00 - 00:00

Financials

Annual Rent £
47,000
Estimated Tenants Annual Operating Profit £
46,935
Representative HEINEKEN UK Brand Discount Per Barrel £
125
Estimated Annual Turnover £
576,990
Estimated Annual Barrelage
420

“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 £
7,500
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
4,000
Deposit Amount £
11,750
Rent In Advance £
904
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
50
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
26,339
Estimated Minimum Ingoing Costs £
11,006

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 £
1,861
Estimated Annual Maintenance Compliance Charge £
1,862
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
4,908

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