Horse & Barge Clydebank
688 Dumbarton Road, Clydebank, G81 4BBAgreement Type:
Investment Tenancy
View details for Horse & Barge Clydebank
Driftwood Glasgow
Driftwood Glasgow
2, St Georges Road, Glasgow, G3 6UJ Pub Code: 2302151101
Pub Code: 2302151101
Investment TenancyEst. Annual Turnover: £494,064
Annual Rent: £41,122
A refurbishment of around £254,000 is planned to transform Driftwood into a standout circuit bar with a stronger drinks offer, refreshed surroundings and new reasons to visit. What would you do with this pub to make it a success?
About the area
Driftwood sits at the end of Sauchiehall Street in Glasgow, close to the M8 and well connected by Charing Cross and Glasgow Central stations. It is around a 10-minute walk from Glasgow city centre attractions and Glasgow University, putting it in a busy part of the city with a vibrant hospitality scene and strong passing trade.
There are 12,838 adults within a 10-minute walk of the pub and 38,939 within a 20-minute walk. The surrounding market is competitive, with around 35 hospitality competitors within walking distance, so the opportunity is to give Driftwood a much clearer identity and a stronger reason to choose it over other venues nearby.
The pub currently trades predominantly as a wet-led business, relying heavily on weekends with limited daytime use and few destination visits. The refurbishment will reposition it for a broader and more diverse audience, with particular appeal to younger professionals, after-work socialising, walk-in customers and people making Driftwood a destination in its own right.
The offer
Driftwood is available on our investment tenancy agreement. Click here for more information on this agreement. Please refer to the 'Refurbishment Details' section for details of the investment being made.
Who we're looking for
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 Driftwood will have extensive experience in high-volume, drinks-led hospitality businesses. They will have a clear vision for the drinks offer, simple street food menu, entertainment programme and marketing strategy, and can create a memorable experience for their customers.
The operator will need to maximise the pub's city-centre location and use the refreshed bar, social gaming offer and events programme to build both destination and repeat visits. There is also scope for the new operator to shape the offer, with the brief open to further ideas that strengthen the pub's appeal.
If this sounds like the incredible pub opportunity you’ve been waiting for, apply today and tell us what you can bring to this pub’s next chapter…
Trading Area & Facilities
The refurbishment will cover both the interior and exterior of Driftwood. A full list of works and pub floor plan can be found in the Downloads section.
The pub's trading area and facilities post refurbishment will be:
- Main trading area with bar
- Separate games and sports zone
- 80 internal covers
- 12 external covers
- Catering kitchen suited to a simple, easy-to-deliver food offer
- HEINEKEN SmartDispense
Applicants should be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process.
Private Accommodation
The pub has no private accommodation.
With our 5 Star Promise, the rent at the start of your agreement is fixed until the end of its initial term.
Indicative entry costs
£46,206
Annual
Estimated Annual Turnover
£494,064
Annual Rent
£41,122
Entry Costs
Deposit
£10,281
Estimated Fixtures & Fittings Value
£27,425
Stock Valuation
£5,000
Working Capital Required
£3,500
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.
What we're planning & why
An estimated £254,000 investment will refresh Driftwood inside and out, transforming the pub into a stronger, more distinctive circuit bar. The project will improve the frontage and kerb appeal, completely refresh the bar and interior décor, and establish a dedicated social gaming area to give customers more reasons to visit and stay longer.
What's happening?
The exterior will receive full redecoration and a new signage scheme, creating stronger kerb appeal and helping the pub stand out on a busy stretch of Sauchiehall Street.
Inside, the bar area will be completely refreshed and redecorated to deliver a better drinking experience and bring the venue up to modern customer expectations. The works will also improve how the trading space is used, creating a more appealing environment for both regular and destination visits.
A new social gaming area will be established to the rear, building on opportunities around shuffleboard, darts and retro gaming machines. The pub can also host music and open mic nights, giving the operator a strong platform to develop an events calendar that supports quieter trading periods as well as peak weekend sessions.
Food will play a supporting role in extending customer visits rather than becoming the main focus. The kitchen is not large, so the brief points towards a simple, easy-to-deliver street food offer such as loaded fries, tacos and nachos. The successful operator will be expected to shape this offer and ensure it complements the drinks-led experience.
Why invest?
The investment is designed to rebuild Driftwood's reputation locally, make better use of the trading space and give the pub a more distinctive offer in a highly competitive city-centre market. By improving kerb appeal, upgrading the customer environment and introducing stronger social gaming and entertainment reasons to visit, the refurbishment is anticipated to attract more customers, encourage longer dwell times and increase both walk-in and destination trade.
Turnover is expected to increase by around £3,000, reaching approximately £9,500 net per week following the refurbishment.
To explore some of our recent successful pub investment projects, please see our Investment Showcase page.
Location:
2, St Georges Road, Glasgow, G3 6UJ
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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
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www.starpubs.co.uk
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