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Cross Keys Canterbury

24, Oaten Hill, Canterbury, CT1 3HZ

Pub Code: 2303052101

Key Features

  • Refurbishment Planned
  • Further Development Opportunities
  • Modern, Multifaceted Site
  • Great Location

Est Min Ingoing Costs: £47,339

Annual Rent: £48,844

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More Information

Extensive Refurbishment Planned

Transformational works will reposition The Cross Keys from a tired drinker’s local into a modern and quirky space, perfect for the town’s discerning customers and growing student population. Inside, the trade area will be decorated with an attractive mix of vintage prints, illuminated signage and upcycled furniture. An exciting food and drink offering will create income streams at all points of the day and expand the pub’s target demographic.

The Cross Keys is ideally located just outside Canterbury city centre. Found on an arterial road out of the city, amongst a variety of shops, offices and housing, there are over 6,800 adults living within a ten minute walk of the pub. The nearby Spitfire Ground St Lawrence, university and student union will also create a lucrative customer base for the pub with the right marketing.

This tasteful refurbishment will inject modern character into The Cross Keys, giving it the ability to trade at all points of the day and generate multiple income streams. With premium features, a brand new bar servery, flatscreen TVs, and a private rear bar area, The Cross Keys will now be able to host any occasion in stunning surroundings. This is a pub with great potential, all we’re missing is the right person to drive it forward. So, could that be you?

  • Catering Kitchen

  • Investment Tenancy

  • Live Sports

  • Music Venue

  • Smoking Area

  • Cask Ale

  • Outdoor Trade

  • Private Accommodation

  • Refurbishment Planned

  • Monthly Billing

Trading Area & Facilities

Please see the refurbishment details brochure for a full breakdown of all works carried out in the planned refurbishment.

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

There is private accommodation at the site, more details to follow. Where required there will be appropriate works carried out in line with the Star Pubs & Bars Ready to Trade Promise.

Premises Licence Details

Please see the premise license for full details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
08:00 -
00:00
08:00 -
00:00
08:00 -
00:00
08:00 -
00:00
08:00 -
00:30
08:00 -
00:30
08:00 -
23:30

Annual Rent £
48,844
Estimated Tenants Annual Operating Profit £
51,844
Representative HEINEKEN UK Brand Discount Per Barrel £
125
Estimated Annual Turnover £
483,786
Estimated Annual Barrelage
206
* 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

Ingoing Costs
Estimated Licensee Fixtures and Fittings Value £
22,569
Estimated Fixtures and Fittings Valuation Fee £
250
Estimated Stock Valuation £
10,000
Deposit Amount £
12,211
Rent in Advance £
939
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 £
47,339
Estimated Minimum Ingoing Costs £
47,339
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.
Other SP&B Ongoing Charges
Estimated Annual Building Insurance £
2,230
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

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