Three Crowns Barrow upon Soar
2 Cotes Road, Loughborough, LE12 8JSAgreement Type: Foundation Tenancy
View details for Three Crowns Barrow upon SoarRefurbishment Planned
Blacksmiths Loughborough
47, Wards End, Loughborough, LE11 3HB
Pub Code: 0050010101
Key Features
- Refurbishment Planned
- Craft Ales
- Small Food Opportunity
- Regular Entertainment
- Private Accommodation
Est Min Ingoing Costs: £39,961
Annual Rent: £25,845
More Information
Extensive refurbishment planned for desirable City Centre pub
What would you do with this pub to make it a success?
The area
City Centre location
The Blacksmiths is located in the popular student town of Loughborough. Loughborough is one of the UK’s most popular student towns, famous for its university and in particular its sports provisions with many of the best athletes in the UK training there. The site is close to the university campus meaning massive footfall from students walking past as the head into and out of town. Many students choose to rent rooms here during term time. Aside from the student population, Loughborough is also surrounded by many small affluent villages such as Hathern, Nanpanton and Woodhouse, providing additional scope to attract visitors looking for a high-quality weekend venue.
Unmatched potential
The planned refurbishment and its local affiliation give the pub bags of potential. The pub will be able to provide a small, simple food offer. The pubs décor will make it stand out and clearly signal the craft offering. Many of the competitor pubs serve craft but lack the vibe of the Blacksmiths. 63 internal and 36 external covers will set up the pub to be the best bar in the area. All we’re missing is the right person to drive it forward….
The offer
The Blacksmiths is available on our investment tenancy agreement. Click here for more information on this agreement.
The newly refurbished Blacksmiths will offer; Craft beers from market leading brands such as Beavertown and Brixton. Simple ‘with beer’ food, Premium lagers, premium spirits, and cocktails will also feature on the menu. Weekend and weekday entertainment, such as live music and quizzes.
We’re always open to new ideas, what would you do to drive trade?
If you’ve benefited from running or owning a pub business, we’d love to hear what experience you can bring.
The right operator for the pub will have extensive experience in a similar hospitality business. They will have a clear vision for their food & drinks menu, entertainment offer and marketing strategy and can create a memorable experience for their customers.
If this sounds like the incredible pub opportunity you’ve been waiting for, apply today and tell us what you can bring to this pub’s next chapter…
Trading Area & Facilities
The Blacksmiths will be undergoing a refurbishment which will cover the interior and exterior of the pub.
A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads.
The pubs trading area and facilities post refurbishment will be:
- Main trading area with bar
- Separate dining area
- 63 internal covers
- 36 external covers
- Catering kitchen
- Garden room
- Smart Dispense
- New garden space with heated, covered area
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
Private accommodation consists of 3 bedrooms, a living room, kitchen, bathroom, and office.
| Annual Rent | £ 25,845 |
| Estimated Annual Turnover | £ 346,341 |
| Deposit | £ 6,461 |
| Estimated Fixtures & Fittings Value | £ 25,000 |
| Estimated Stock Valuation | £ 5,000 |
| Estimated Working Capital | £ 3,500 |
| Estimated Total Ingoing Costs | £ 39,961 |
| Estimated Minimum Ingoing Costs | £ 39,961 |
The above figures are provided as a guide only and will be finalised as part of the commercial agreement. All figures quoted are exclusive of VAT.
Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
Location:
47, Wards End, Loughborough, LE11 3HB
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Freephone:
08085 94 95 96
Email us at
enquiries@starpubs.co.uk
Or visit
www.starpubs.co.uk
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