The Spinning Mill Colne
Burnley Road, Colne, BB8 8LFAgreement Type: Investment Tenancy
View details for The Spinning Mill Colne
Crown Hotel Colne
94, Albert Road, Colne, BB8 0QD
Pub Code: 2302842101
Key Features
- Foundation Tenancy
- 7 En-Suite Letting Rooms
- Live Entertainment
- Real Ales
- Pub Games
- Popular Food Venue
Est Min Ingoing Costs: £16,417
Annual Rent: £35,000
More Information
Coming Soon - We are currently working up the financials for this site, so all quoted figures are indicative only. We are accepting applications in the meantime so apply today!
Historic Pub with Multiple Income Streams
The Crown Hotel is situated in the heart of Pendle Witch Country close to the Pennines and Yorkshire Dales. The hotel is an ideal base for exploring the nearby hills, canals, historic towns and villages, and many other local beauty spots. The Crown Hotel is a charming former coaching inn, built in 1852 to service the then new railway system in the quiet mill town of Colne. The very welcoming hotel offers comfortable accommodation comprising of ten single, double and family bedrooms all of which have colour television, hospitality tray and seven of which have en-suite facilities.
Business Development Manager Vision
The Crown Hotel prides itself on providing quality, locally sourced produced food to a very high standard accompanied by a wide selection of Wines and Spirits from around the world and requires a dedicated operator to ensure this legacy that has been built up over the last 100 years is continued through the heart and soul of every pint poured and meal served. From Daily Live music to open mic on a Sunday, the pub is always full of life. Encouraging the local up and coming talent to well established world wide groups, it's had it all.
If you are into driving an ever strong, venue with letting rooms, steeped in local history and wish to remain the real hub of the community, then the Crown Hotel is a must for you.
The opportunities here are endless in growing the ever demanding food and music side of the business, along with increasing the room revenue and your profitability along with providing guests with a stimulating range of cask ales, accompanied by light bites, and a mouth-watering main menu in a warm and welcoming venue for all to enjoy.
If you think you have what it takes, to take on such a prominent dining and entertainment and dining venue with an unrivaled vision in the heart of Colne then apply now.
Trading Area & Facilities
Internally, the Crown Hotel is a two-bar operation. Friendly competition is enjoyed in the games area which includes a pool table and darts board. The internal seating is a mixture of loose and fitted seats, from comfortable booth seating to low and high stools. Live sport can be shown on the televisions in the bar area. The pub also contains gaming machines, allowing for an additional income stream. There is also a separate function/meeting room which can fit 40 theatre style, ideal for business meetings and small corporate events.
There is a cosy trading area externally to the rear, perfect for drinks in the summer months.
The Crown Hotel benefits from 10 letting rooms, 7 of which are en-suite, all with a television and hospitality tray.
Private Accommodation
The private accommodation at the Crown Hotel consists of 2 flats. One, a 3 bedroom with a bathroom, living room and kitchen. The other a 2 bedroom and kitchenette. In line with our Ready to Trade Promise, we will ensure the private accommodation is in good condition, so that you can focus on your business.
| Annual Rent | £ 35,000 |
| Estimated Annual Turnover | £ 820,000 |
| Deposit | £ 8,750 |
| Estimated Fixtures & Fittings Value | £ 24,575 |
| Estimated Stock Valuation | £ 10,000 |
| Estimated Working Capital | £ 3,500 |
| Estimated Total Ingoing Costs | £ 46,825 |
| Estimated Minimum Ingoing Costs | £ 16,417 |
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:
94, Albert Road, Colne, BB8 0QD
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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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