Schooner at Amble
Lime Street, Morpeth, NE65 0ADAgreement Type: Investment Tenancy
View details for Schooner at AmbleRefurbishment Planned
Coach Inn Alnwick
Lesbury, Alnwick, NE66 3PP
Pub Code: 2303322101
Key Features
- Investment Tenancy
- Refurbishment Planned
- Catering Kitchen
- Outdoor Trade
- Private Accommodation
Est Min Ingoing Costs: £66,614
Annual Rent: £41,453
More Information
The Coach is in the village of Lesbury, a picturesque Northumberland village with great nearby walks and access to the coast. It is situated 45 minutes by car to the northeast of Newcastle. The Alnmouth railway station, on the East Coast mainline is one mile away. In the village, there are no other village pubs, but there are some mainstream competitors in Alnmouth.
A major refurbishment will transform the Coach into a premium local pub. Redecorations throughout the interior trading spaces will breathe a new lease of life into this pub. The kitchen will be remodelled and re-fitted to make way for an exciting new food offer. There will also be two new dining areas and a snug. The popular beer garden will be rejuvenated, providing a lot of additional covers. The pubs frontage will receive a major overhaul, with new signage and lighting. This will amplify the pubs kerb appeal and make it stand out to passing trade.
The planned refurbishment will create an all-new offer and feel to the pub. These changes as well as the fabulous garden, and extended kitchen, will give the pub the ability to appeal to a broad spectrum of consumers who want to meet friends for a drink or to dine throughout the year. With 66 covers internally and 80 externally, this pub has bags of potential. All we are looking for is the right operator.
The newly refurbished Coach Inn will appeal to:
- Local couples and friends wanting to enjoy a casual drink or premium pub food.
- Older couples and friends looking for a lunchtime treat and a venue for special occasions.
- Families with children looking to eat in the cosy dining area or in the beer garden in warmer months.
The Coach Inn is available on our investment tenancy agreement. Click here for more information on this agreement. When refurbished, the Coach will offer:
• A great premium drinks selection including beers, ciders, wines and spirits.
• A destination food-offer with potential for barbecues in the warmer months in the beer garden.
• Great coffee to entice customers throughout the day.
• Entertainment such as weekly acoustic sets combined with a good and varied rhythm of the week.
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 Coach Inn will have extensive experience in destination food outlet hospitality businesses. They will have a clear vision for their marketing strategy, food & drinks menu and entertainment offer 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 pubs next chapter…
Trading Area & Facilities
The Coach Inn 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.
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 2 bedrooms, a living room, kitchen and bathroom. Where required there will be appropriate works carried out in line with the Star Pubs & Bars Ready to Trade promise.
| Annual Rent | £ 41,453 |
| Estimated Annual Turnover | £ 563,699 |
| Deposit | £ 10,363 |
| Estimated Fixtures & Fittings Value | £ 42,751 |
| Estimated Stock Valuation | £ 10,000 |
| Estimated Working Capital | £ 3,500 |
| Estimated Total Ingoing Costs | £ 66,614 |
| Estimated Minimum Ingoing Costs | £ 66,614 |
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:
Lesbury, Alnwick, NE66 3PP
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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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