Cork & Bottle Barnstaple
56 High Street, Barnstaple, EX31 1JBAgreement Type:
Investment Tenancy
View details for Cork & Bottle Barnstaple
Castlebrook Inn
Castlebrook Inn
Castlebrook, Somerton, TA11 6PR Pub Code: 2300738101
Pub Code: 2300738101
Foundation TenancyEst Min Ingoing Costs: £10,642
Annual Rent: £25,699
1st Year Rent Offer: £19,274
Charismatic Country Pub
The Castlebrook Inn is a wonderful destination outlet
This pub is situated on the main road between the villages of Somerton & Street. Popular with locals, walkers and the surrounding rural communities, this pub has great potential to increase its current customer base.
The Castlebrook Inn is a warm, family-friendly country pub which is full of character and offers wholesome, homemade food and good quality cask ales. Situated to the rear of the pub is a large outside recreational field.
Demographics
The pub benefits from being one of two pubs found in an area. The majority customer base is made up of midlife and mature adults and people looking for that idea destination pub.
The offer
Available on our foundation tenancy agreement. Click here for more information on this agreement. The potential of this pub lies in developing a well thought through food & drinks offer. What food & drinks would you look to implement in the pub?
The site currently has the ability to drive trade via its function room / skittle alley and pub games machines. It offers a selection of a pub classic menu, popular beers, ciders, wines and spirits, and coffees.
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 destination food outlet hospitality business. They will have a clear vision for their marketing strategy, food & drinks menu 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…
* 25% rent reduction will be applied to first 12 months following completion of a fully signed lease agreement (5 years England & Wales, 3 years Scotland) on selected properties only. No cash alternative is payable.
Trading Area & Facilities
The pubs trading area and facilities :-
- Main trading area with bar
- Conservatory currently used as a separate dining area
- 50 internal covers
- Small kitchen
- Long function room that can double up as skittle ally
- Small seating area to the front of the pub
- Car park
Private Accommodation
The private accommodation consists of two bedrooms, lounge, kitchen and bathroom.
Estimated Total Ingoing Costs
£21,925
Estimated Minimum Ingoing Costs
£10,642
Annual Rent
£25,699
Estimated Annual Turnover
£427,927
Deposit
£6,425
Estimated Fixtures & Fittings Value
£7,000
Estimated Stock Valuation
£5,000
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:
Castlebrook, Somerton, TA11 6PR
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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
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