Black Bull Otley

Market Place, Otley LS21 3AQ

  • Black Bull Otley
  • Black Bull Otley
  • Black Bull Otley
  • Black Bull Otley
  • Black Bull Otley
  • Black Bull Otley
  • Black Bull Otley

Black Bull Otley

Excellent Business Opportunity

The Black Bull is situated in the centre of the historic market town of Otley, not far from Leeds. The pub is on Market Place opposite where regular markets are held and surrounded with other local businesses. Otley is occupied by all ages, including professional couples and families and receives a large number of visitors who come for the markets, to see the historic town and go to the nearby Chevin Forest Park and the Yorkshire Dales National Park. All these elements combined provide significant opportunity for the right operator to build an exciting and appealing offer which will increase footfall from locals and the many tourists, walkers and cyclists who visit the area.

Currently the pub has a mainstream classic food offer and can cater for approximately 35 covers. There is an excellent opportunity for the right operator to develop the food offer providing premium homemade classics using local produce. There is also an opportunity to develop a comprehensive events calendar, which along with an interesting cask offer will entice more couples and families.

Experienced Operator Wanted

We are looking for an experienced operator with a homemade food focus who can demonstrate a proven track record within the licensed trade and can work with us to allow this pub to achieve its full potential. Ideally applicants will have a good knowledge of the local area.

Pub Features

  • Rolling Tenancy
  • Catering Kitchen
  • Private Accommodation
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

The Black Bull has a traditional feel with a lot of natural finishes in wood and stone and retains some inviting features including exposed ceiling beams and a fire places giving it a cosy and welcoming feel.

The current layout is open plan with a snug area on the right and a dining area to the left as you walk in. Straight ahead is the galley style bar which is the focal point and there is mixed seating throughout. The kitchen is a good size and in good condition.

Externally the pub is an imposing traditional building, which has definite kerb appeal. There is an appealing outside trading area to the rear.

Private Accommodation

The private accommodation is of a good size and consists of 3 bedrooms, kitchen, bathroom, and lounge. Where required there will be appropriate works carried out in line with the Star Pubs & Bars Ready to Trade Promise.

Premises Licence Details

Please refer to the Premises Licence for full details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
09:00 - 00:30 09:00 - 00:30 09:00 - 00:30 09:00 - 01:30 09:00 - 01:30 09:00 - 01:30 09:00 - 00:30

Financials

Annual Rent £
29,500
Estimated Annual FMOP (Licensee Profit) £
32,541
Representative HEINEKEN UK Brand Discount Per Barrel £
140
Estimated Annual Turnover £
382,878
Estimated Annual Barrelage
262

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 £
24,000
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
6,000
Deposit Amount £
7,375
Rent In Advance £
567
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 £
40,127
Estimated Minimum Ingoing Costs £
13,643

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 £
1,163
Estimated Annual Maintenance Compliance Charge £
1,463
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