Cricketers Badshot Lea
22 Badshot Lea Road, Farnham, GU9 9LUAgreement Type:
Foundation Tenancy
View details for Cricketers Badshot Lea
Cedar Tree Bagshot
Refurbishment Planned
Cedar Tree Bagshot
1, High Street, Bagshot, GU19 5AG Pub Code: 2302004101
Pub Code: 2302004101
Investment TenancyEst. Annual Turnover: £416,414
Annual Rent: £30,000
There is a refurbishment planned to transform the Cedar Tree into a refreshed premium local for the Bagshot community. What would you do with this pub to make it a success?
About the area
The Cedar Tree is located in the heart of Bagshot town centre, Surrey, with excellent visibility from the A30 and the benefit of both footfall and passing driving trade. The area has 3,343 adults within a 10-minute walk, with a predominantly middle to high affluence customer base.
The pub is one of only a handful of pubs in the area, with two pub competitors and one Miller & Carter restaurant nearby. Following refurbishment, the pub will be repositioned as a premium local, appealing to the local community with a quality drinks range, traditional pub food, coffee, entertainment and a refreshed look and feel throughout.
The offer
The Cedar Tree is available on our investment tenancy agreement. Click here for more information on this agreement. Please refer to the ‘Refurbishment Details’ section for details of the investment being made.
Who we’re looking for
The right person for this pub could come from a range of backgrounds, but food experience would be a real advantage.
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 Cedar Tree will have experience in premium local pubs with a strong food offer. They will have a clear vision for the traditional food menu, premium drinks range, events programme and marketing strategy, creating a memorable experience for local 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 refurbishment will cover both the interior and exterior of the pub. A full list of works and pub floor plan can be found in the Downloads section.
The pub’s trading area and facilities post refurbishment will be:
- External redecoration
- New external signage and lighting
- New front entrance step
- New side entrance ramp from the car park
- Overhauled ground floor windows and doors
- New entrance matting
- New engineered oak flooring throughout
- Retained front bar section
- Overhauled undercounter shelving
- Decorated existing bar servery and backfitting
- Refreshed toilets
- Kitchen and cellar wall and floor repairs
- Domestic accommodation updates
- 67 internal covers
- 72 external covers
- Traditional pub food offer
- Premium drinks range
- Live music
- Live sport
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, 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 is included with the pub.
With our 5 Star Promise, the rent at the start of your agreement is fixed until the end of its initial term.
Indicative entry costs
£32,010
Annual
Estimated Annual Turnover
£416,414
Annual Rent
£30,000
Entry Costs
Deposit
£7,500
Estimated Fixtures & Fittings Value
£12,010
Stock Valuation
£9,000
Working Capital Required
£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.
What we're planning & why
The planned refurbishment will refresh the Cedar Tree inside and out, improving the pub’s kerb appeal, trading areas and private accommodation. The works include external redecoration, new signage and lighting, access improvements, window and door repairs, new flooring throughout the trade area, decorations to the existing bar servery and backfitting, toilet refresh works, kitchen and cellar repairs, and updates to the domestic accommodation.
What’s happening?
Externally, the pub will benefit from redecoration to previously painted surfaces, new signage and lighting, and the removal of redundant external items such as hanging baskets, brackets, lighting and cables. A new step will be constructed to the front door, with a new ramp added to the side entrance from the car park. Existing ground floor windows and doors will be overhauled, with a provisional allowance for first floor replacement windows where required. There is also an allowance for new guttering around the perimeter of the building.
Inside the trade area, redundant floor coverings, furniture and joinery will be stripped out. New entrance matting and engineered oak flooring will be installed throughout, supported by associated nosings and threshold strips. The existing front bar section will be retained, with undercounter shelving overhauled, and decorations carried out to the existing bar servery and backfitting.
The toilets will be refreshed, with existing doors and windows overhauled where retained, floor tiles retained and cleaned, sanitaryware cleaned and re-siliconed, and ceiling decorations completed.
In the kitchen and cellar, works will focus on wall and floor repairs. The kitchen extract and kitchen equipment are being retained, with no works listed to these items.
The domestic accommodation will also receive attention, including cleaning and overhauling existing kitchen units, installing a new digital lock and spyhole to the entrance door, investigating a leak in the shower, testing the fire alarm, replacing the first floor kitchen smoke head with a heat detector, and allowing for any additional FRA works.
Why invest?
This refurbishment is designed to improve the Cedar Tree’s presentation, accessibility, internal trading space and accommodation, helping to signal a positive change to the local market. With a strong town centre position, visibility from the A30, 67 internal covers and 72 external covers, the pub has the potential to become a quality local venue for the Bagshot community.
The investment is anticipated to increase turnover by improving kerb appeal, refreshing the customer areas, strengthening the pub’s trading environment and supporting a premium local food and drink offer.
To explore some of our recent successful pub investment projects, please see our Investment Showcase page.
What’s happening?
Externally, the pub will benefit from redecoration to previously painted surfaces, new signage and lighting, and the removal of redundant external items such as hanging baskets, brackets, lighting and cables. A new step will be constructed to the front door, with a new ramp added to the side entrance from the car park. Existing ground floor windows and doors will be overhauled, with a provisional allowance for first floor replacement windows where required. There is also an allowance for new guttering around the perimeter of the building.
Inside the trade area, redundant floor coverings, furniture and joinery will be stripped out. New entrance matting and engineered oak flooring will be installed throughout, supported by associated nosings and threshold strips. The existing front bar section will be retained, with undercounter shelving overhauled, and decorations carried out to the existing bar servery and backfitting.
The toilets will be refreshed, with existing doors and windows overhauled where retained, floor tiles retained and cleaned, sanitaryware cleaned and re-siliconed, and ceiling decorations completed.
In the kitchen and cellar, works will focus on wall and floor repairs. The kitchen extract and kitchen equipment are being retained, with no works listed to these items.
The domestic accommodation will also receive attention, including cleaning and overhauling existing kitchen units, installing a new digital lock and spyhole to the entrance door, investigating a leak in the shower, testing the fire alarm, replacing the first floor kitchen smoke head with a heat detector, and allowing for any additional FRA works.
Why invest?
This refurbishment is designed to improve the Cedar Tree’s presentation, accessibility, internal trading space and accommodation, helping to signal a positive change to the local market. With a strong town centre position, visibility from the A30, 67 internal covers and 72 external covers, the pub has the potential to become a quality local venue for the Bagshot community.
The investment is anticipated to increase turnover by improving kerb appeal, refreshing the customer areas, strengthening the pub’s trading environment and supporting a premium local food and drink offer.
To explore some of our recent successful pub investment projects, please see our Investment Showcase page.
Location:
1, High Street, Bagshot, GU19 5AG
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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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