Amber Lounge Chester

8 Watergate Row, Chester CH1 2LD

  • Amber Lounge Chester
  • Amber Lounge
  • Amber Lounge
  • Amber Lounge
  • Amber Lounge
  • Amber Lounge
  • Amber Lounge
  • Amber Lounge

Amber Lounge Chester

Premium Profitable Pub

Due to undergo a full refurbishment, The Amber Lounge is premium site, ideally located at the centre of the historic and affluent city of Chester. Located above a retail outlet, the bar is sympathetic to its historical surroundings.

Previously, trade revolved around a strong food offer during the day, transforming into a late night venue offering premium drinks, cocktails, live DJs and bands.

Experienced Innovative Operator Wanted

This is an excellent opportunity for an operator with experience of managing a similar late night venue with a strong food trade.

Pub Features

  • Rolling Tenancy
  • Refurbishment Planned
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

Internally, the site will undergo a total transformation. The trading area consists of a single open plan room, subdivided into smaller areas to allow for a more intimate drinking and dining experience. Following renovation and redecoration, the bar will comfortably accommodate 40 covers for food with a total of capacity is 80 - 100.

Externally, a new signage and lighting scheme will ensure excellent kerb appeal.

Full plans to follow.

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

There is no private accommodation for this site but the site does benefit from an office upstairs.

Premises Licence Details

For full details, please see the Premises Licence.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
10:00 - 00:30 10:00 - 00:30 10:00 - 00:30 10:00 - 03:00 10:00 - 03:00 10:00 - 03:00 10:00 - 01:30

Financials

Annual Rent £
27,500
Estimated Annual FMOP (Licensee Profit) £
27,885
Representative HEINEKEN UK Brand Discount Per Barrel £
150
Estimated Annual Turnover £
356,478
Estimated Annual Barrelage
217

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).

Historical volume figures may not include purchases made through 3rd Parties.

** All figures quoted are exclusive of VAT

*** FMOP = Fair Maintainable Operating Profit

Investment

Ingoing Costs
Estimated Licensee Fixtures & Fittings Value £
1,870
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
3,000
Deposit Amount £
6,875
Rent In Advance £
529
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
50
Premises Licence Fee £
295
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
14,574
Estimated Minimum Ingoing Costs £
10,592

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 £
1,087
Estimated Annual Maintenance Compliance Charge £
1,019
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
4,920

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