King Alfred Alfreton
58 High Street, Alfreton, DE55 7BEAgreement Type: Foundation Tenancy
View details for King Alfred AlfretonRefurbishment Planned
Cross Keys Swanwick
Derby Road, Alfreton, DE55 1BG
Pub Code: 2302829101
Key Features
- Investment Proposed
- Charming Village Hub
- Great Roadside Location
- Appealing Demographics
- Free of Tie on Wines, Spirits & Food
Est Min Ingoing Costs: £45,882
Annual Rent: £29,526
More Information
Refurbishment Planned
A refurbishment will turn the Cross Keys into a premium, community local. Inside, the pub will be redecorated throughout, with new flooring, new furniture and a new look for the bar servery. We will also be upgrading the kitchen and toilets. This will be a transformational refurbishment, with a planned investment of just under £250,000.
The external areas will be enhanced with a complete redecoration, new furniture, heating, and lighting. We will also be installing an all new, large, covered beer garden. The pub will benefit from new signage and lighting on the front of the pub too. These works will shout about the pubs transformation to passing trade, enticing them to visit.
These changes will encourage new customers to come in and see the amazing change in the pub, experience the new food offer or watch and play sport!
Community focused location!
The Cross Keys is located in the highly sought-after village of Swanwick, a large village in Derbyshire, just south of Alfreton, west of the M1. The pub itself is on the busy main road which joins the A38, a main arterial route between Derby and Mansfield. There are lots of chimneys surrounding the pub, with over 4,500 adults living within a ten-minute walk of the pub.
A pub business with bags of potential
These changes will encourage new customers to come in and see the amazing change in the pub, experience the new food offer or watch and play sport. There are 81 internal and 55 external covers, meaning there is ample opportunity to maximise trade throughout the year. Competition in this area of the market is limited, with most of the other pubs in the village having a drinks led offer. All we’re looking for is the right operator that understands how to run a community-focused pub….
When refurbished, the Cross Keys will appeal to a very broad spectrum of customers, including:
Locals looking to enjoy good quality and value drinks and food
Friends or family looking to spend time together in a premium community pub
When refurbished, the Cross Keys will offer:
A mix of value and premium draught Lager, cask ales, craft beer, a wine menu, spirits and soft drinks.
Traditional pub food, home-cooked to a good standard. Offers throughout the week to attract customers. Also Sunday lunches and a kids menu to encourage families in as often as possible.
A coffee offer to increase day time trade and attract parents at pick up / drop off time to the nearby school.
Entertainment as part of the rhythm of the week, such as live music, sport and local pool and darts teams.
Trading Area & Facilities
A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads.
The pubs trading area and facilities post refurbishment will be:
- Main trading area with bar
- 81 internal covers
- 55 external covers
- Catering kitchen
- SmartDispense
- Outdoor area with pergola
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 available at this site.
| Annual Rent | £ 29,526 |
| Estimated Annual Turnover | £ 455,116 |
| Deposit | £ 7,382 |
| Estimated Fixtures & Fittings Value | £ 25,000 |
| Estimated Stock Valuation | £ 10,000 |
| Estimated Working Capital | £ 3,500 |
| Estimated Total Ingoing Costs | £ 45,882 |
| Estimated Minimum Ingoing Costs | £ 45,882 |
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:
Derby Road, Alfreton, DE55 1BG
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View details for Shepherds Rest NottinghamTo 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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