Polton Inn Lasswade
Polton Road, Lasswade, EH18 1BSAgreement Type:
Foundation Tenancy
View details for Polton Inn Lasswade
Clovenfords By Gala
Clovenfords By Gala
1, Vine Street, By Gala, TD1 3LU Pub Code: 2303319101
Pub Code: 2303319101
Investment TenancyEst Min Ingoing Costs: £52,278
Annual Rent: £35,115
Refurbishment planned for characterful village pub with letting rooms
The Clovenfords offers a great opportunity for someone who wants to take on a well-backed, refurbished pub with plenty of potential.
What would you do with this pub to make it even more of a success?
The area:
The Clovenfords sits in the heart of Clovenfords village, just three miles from Galashiels in the Scottish Borders. The pub is the only venue in the village, making it the natural meeting place for locals while attracting visitors from surrounding towns.
Set in a picturesque area with steady year-round trade, the location combines an affluent residential base with regular tourists drawn to walking, cycling and exploring the Borders countryside.
The offer:
The Clovenfords is available on our investment tenancy agreement. Click here for more information on this agreement.
The refurbishment will transform the pub’s interior, redecorating both bar areas, upgrading toilets and refitting the conservatory with a new insulated roof system to create a comfortable all-year-round dining space. The back bar will be refreshed, fixed seating reupholstered, and new lighting and furniture will complete the scheme.
The pub will trade as a Premium Local with a straightforward pub menu featuring crowd-pleasing dishes, complemented by a strong drinks range including lagers, ciders, spirits, wines and soft drinks. The business will also offer coffee to attract daytime customers.
A regular rhythm of the week will feature live music, quizzes and live sport, creating a warm and sociable atmosphere for both locals and visitors.
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 Clovenfords will understand the importance of great service, consistent standards and community connection, building on its position as the village’s go-to venue.
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 Clovenfords will be undergoing a refurbishment which will cover the full internal trading space including both bars, the conservatory dining area and customer toilets. No external works are required.
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:
- Two bar areas
- Conservatory dining area
- 140 internal covers
- 112 external covers
- Seven en-suite letting rooms
- Catering kitchen
- HEINEKEN SmartDispense®
- Live sport and entertainment
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 forms part of the seven en-suite letting rooms.
Estimated Total Ingoing Costs
£52,278
Estimated Minimum Ingoing Costs
£52,278
Annual Rent
£35,115
Estimated Annual Turnover
£505,181
Deposit
£8,778
Estimated Fixtures & Fittings Value
£35,000
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:
1, Vine Street, By Gala, TD1 3LU
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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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