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RegisterCannon Gateshead
Cannon Gateshead
435, Durham Road, Gateshead, NE9 5EX Pub Code: 0020436101
Pub Code: 0020436101
Investment TenancyEst Min Ingoing Costs: £40,303
Annual Rent: £25,434
Major refurbishment to vibrant High Street pub.
O’Cannons offers a great opportunity for someone who wants to take on a well-backed, newly refurbished pub with plenty of potential.
What would you do with this pub to make it even more of a success?
The Area
O’Cannons is located on the vibrant High Street of affluent Low Fell, Gateshead. The area is a very affluent suburban location with great communication links to Gateshead and Newcastle city centre.
The pub benefits from being one of fifteen pubs found in an area of around 21,895 adults within a twenty-minute walk time. The surrounding housing is a mix of young and mature households.
O’Cannons sits on the popular Low Fell pub circuit, close to Newcastle and the local college.
The Offer
O’Cannons is available on our investment tenancy agreement. Click here for more information on this agreement.
This investment will see a full refurbishment and repositioning to all rooms and toilets, along with new signage, a repaint to the ground floor, full window repairs and a renovated beer garden. The aim is to drive the pub away from low-price dynamic pricing and into a sustainable, quality offer.
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 O’Cannons will have extensive experience in high-street hospitality businesses. They will have a clear vision for their 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
O’Cannons 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 pub’s trading area and facilities post refurbishment will be:
- Main trading area with bar
- Function room
- 69 internal covers
- 51 external covers
- HEINEKEN SmartDispense
- Beer garden
Applicants should be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process.
Private Accommodation
The pub has no private accommodation.
Estimated Total Ingoing Costs
£40,303
Estimated Minimum Ingoing Costs
£40,303
Annual Rent
£25,434
Estimated Annual Turnover
£470,750
Deposit
£6,358
Estimated Fixtures & Fittings Value
£24,000
Estimated Stock Valuation
£6,445
Estimated Working Capital
£3,500
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:
435, Durham Road, Gateshead, NE9 5EX
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To apply for this pub or for additional information, please contact us directly
Freephone:
08085 94 95 96
Email us at
enquiries@starpubs.co.uk
Or visit
www.starpubs.co.uk
