Black Prince Tile Hill Coven

Jardine Crescent, Coventry, Coventry CV4 9QS

  • Black Prince Tile Hill Coven

Black Prince Tile Hill Coven

Vibrant Community Local

The Black Prince is a vibrant community local pub enjoying a location at the heart of Tile Hill. The local area is very densely populated, and the pub sits in the middle of the estate easily accessed by foot by over 7,000 locals. Currently a drinks only site, offering a mainstream range, however, there is opportunity to introduce food through a basic snack menu.

Passionate Pub Operator Wanted

We are seeking someone who will immerse themselves in the local community to make the Black Prince the hub of the local estate. The ability to drive trade through sports is essential.

Pub Features

  • Rolling Tenancy
  • Business Start-Up Agreement
  • Refurbishment Planned
  • Catering Kitchen
  • Live Sports
  • Smoking Area
  • Pub Games
  • Childrens Play Area
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

Internally, the pub is a two bar operation with a main lounge and games room. The lounge area has comfortable bench seating and is decorated with local sporting memorabilia. The games room has pool and skittles tables and is used for weekend entertainment.

Refurbishment plans:- The refurbishment is to include the creation of zoned trading areas to allow for a dining area with feature tables and booth seating. The bar area will be revamped to ensure a cosy, welcoming feel, with a fireplace and stone flooring. This will lead into a second area with new timber flooring, another fireplace and mix of fixed and loose seating.


Externally, the pub is located on a corner with a large car park to the front. There is a smoking shelter by the main entrance.

Refurbishment plans:- A new lighting and signage scheme will greatly enhance kerb appeal. A new seating area will be created to the front for guests to enjoy, along with a new children's playground to the rear.


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

More details to follow

Premises Licence Details

Please refer to the Premises Licence for further 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 - 00:00 10:00 - 00:00 11:00 - 23:30

Financials

Annual Rent £
21,500
Estimated Annual FMOP (Licensee Profit) £
22,628
Representative HEINEKEN UK Brand Discount Per Barrel £
175
Estimated Annual Turnover £
300,391
Estimated Annual Barrelage
324

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 £
8,000
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
3,000
Deposit Amount £
3,000
Rent In Advance £
413
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 £
16,608
Estimated Minimum Ingoing Costs £
9,987

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 £
TBC
Estimated Annual Maintenance Compliance Charge £
1,463
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