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RegisterRefurbishment Planned
Cork & Bottle Barnstaple
56, High Street, Barnstaple, EX31 1JB
Pub Code: 0091026101
Key Features
- Town Centre Location
- New Catering Kitchen
- Refreshed Garden Area
- Fully Revamped Exterior
- Private Accommodation
Est Min Ingoing Costs: £15,207
Annual Rent: £30,541
More Information
This fully revamped pub will offer a fantastic experience for locals and visitors to the nearby town centre. A new kitchen will allow the operator to offer a full food menu while the refreshed garden will allow for additional covers. Sports on TV, and the fully revamped exterior will attract further customers, while a morning coffee offer will allow the operator to build business throughout the day.
Excellent Opportunity
This is a fantastic opportunity to take on a pub business that is being given a new lease of life.
The Cork & Bottle will attract a broad range of consumers looking for a range of experiences, from older clientele in the mornings, to office workers and shoppers during the day, becoming more energetic during the evenings and weekends.
Excellent Opportunity
This is a fantastic opportunity to take on a pub business that is being given a new lease of life.
The Cork & Bottle will attract a broad range of consumers looking for a range of experiences, from older clientele in the mornings, to office workers and shoppers during the day, becoming more energetic during the evenings and weekends.
Trading Area & Facilities
Internally, the pub consists of two large trade areas served by a single central island bar. The refurbishment will see a brand-new catering kitchen fitted on the first floor and the site has room for around 40 covers.
Externally, there is a garden area also being revamped.
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).
Externally, there is a garden area also being revamped.
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
The private accommodation at the Cork & Bottle consists of two bedrooms, lounge, office, kitchen and bathroom.
Premises Licence Details
See licence for full details.
Premises Licence Opening Hours
| Mon | Tue | Wed | Thu | Fri | Sat | Sun |
|---|---|---|---|---|---|---|
|
10:00 - 23:30 |
10:00 - 23:30 |
10:00 - 23:30 |
10:00 - 23:30 |
10:00 - 00:30 |
10:00 - 00:30 |
12:00 - 23:00 |
| Annual Rent | £ 30,541 |
| Estimated Tenants Annual Operating Profit | £ 32,540 |
| Representative HEINEKEN UK Brand Discount Per Barrel | £ 150 |
| Estimated Annual Turnover | £ 445,870 |
| Estimated Annual Barrelage | 254 |
* 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
** All figures quoted are exclusive of VAT
| Ingoing Costs | |
|---|---|
| Estimated Licensee Fixtures and Fittings Value | £ 36,000 |
| Estimated Fixtures and Fittings Valuation Fee | £ 250 |
| Estimated Stock Valuation | £ 10,000 |
| Deposit Amount | £ 7,635 |
| Rent in Advance | £ 587 |
| Training Fee | £ 425 |
| Estimated Designated Premises Supervisor / Manager Fee | £ 60 |
| Premises Licence Fee | £ 180 |
| Rates Assessment Fee | £ 55 |
| Estimated Legal Fees | £ 650 |
| Estimated Total Ingoing Costs | £ 55,842 |
| Estimated Minimum Ingoing Costs | £ 15,207 |
In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
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 are not included in the rent model or ongoing costs below.
Note that on FRI 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.
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 are not included in the rent model or ongoing costs below.
Note that on FRI 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.
| Other SP&B Ongoing Charges | |
|---|---|
| Estimated Annual Building Insurance | £ 1,185 |
| Estimated Annual Maintenance Compliance Charge | £ 1,862 |
| Estimated Annual Accountancy & Stocktaking Charge (including tills) |
£
6108
|
| Estimated Annual Repairs Fund | £ 1300 |
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
** Deposit build up will be payable over a maximum of 24 months
*** Fixtures and Fittings annual rental fee should be estimated at 15% of the F&F value. The actual F&F value will be determined on the day of entry
**** Maintenance Compliance Charge relates to the fees for various statutory inspections
***** Estimated Legal Fees is a charge applied to your account by SP&B for creation of your Lease. You are required to engage and pay for your own solicitor - your solicitor's fees are not included in the above estimate
* All figures quoted are exclusive of VAT
** Deposit build up will be payable over a maximum of 24 months
*** Fixtures and Fittings annual rental fee should be estimated at 15% of the F&F value. The actual F&F value will be determined on the day of entry
**** Maintenance Compliance Charge relates to the fees for various statutory inspections
***** Estimated Legal Fees is a charge applied to your account by SP&B for creation of your Lease. You are required to engage and pay for your own solicitor - your solicitor's fees are not included in the above estimate
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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