Gateway Reading
Greyfriars Road, Reading, RG1 1PAAgreement Type:
Investment Tenancy
View details for Gateway Reading
East Elstree (to be re-named the The Plough)
East Elstree (to be re-named the The Plough)
High Street, Borehamwood, WD6 3EU Pub Code: 2300258101
Pub Code: 2300258101
Long-Term FRI LeaseEst Min Ingoing Costs: £62,815
Annual Rent: £85,261
Picturesque location - the Plough is located Elstree, situated on busy crossroads near open park areas and lakes. It is also close to the train station, Borehamwood town centre and the local business park with over 50 permanent business. The demographics show only one competitor pub, over a ten-minute walk time away.
The Offer:
The Plough is available on our FRI Agreement agreement. Click here for more information on this agreement.
When refurbished, The Plough will offer:
A full range of draught lagers, both premium and favourite, as well as great wines, spirits, zero and low alcohol and mineral options.
Quality assorted menu including specials and pub classics.
Coffees to increase day trade.
Entertainment throughout the week and weekends such as wine and gin tastings, food special nights and solo artist live entertainment.
We’re always open to new ideas, what would you do to drive trade?
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 the Plough will have extensive experience in destination food outlet hospitality businesses. They will have a clear vision for their food & drinks menu, marketing strategy and can create a memorable experience for their customers.
If this sounds like the incredible pub opportunity you’ve been waiting for, apply today and tell us what you can bring to this pubs next chapter…
Trading Area & Facilities
The Plough will be undergoing a refurbishment which will cover the interior and exterior of the pub.
A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads section.
The pubs trading area and facilities post refurbishment will be:
- Split trading area
- Lounge and covered pergola
- 90 internal covers
- 142 external covers
- Catering kitchen
- Large outdoor space
- 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.
Where a significant investment is made in a pub by Star Pubs, 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
Private accommodation consists of three bedrooms, kitchen and bathroom.
Estimated Total Ingoing Costs
£62,815
Estimated Minimum Ingoing Costs
£62,815
Annual Rent
£85,261
Estimated Annual Turnover
£959,173
Deposit
£21,315
Estimated Fixtures & Fittings Value
£30,000
Estimated Stock Valuation
£8,000
Estimated Working Capital
£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.
Location:
High Street, Borehamwood, WD6 3EU
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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
Or visit
www.starpubs.co.uk
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