Fleece Otley

Westgate, Otley LS21 3DT

Under Offer
  • Fleece Otley
  • Fleece Otley
  • Fleece Otley
  • Fleece Otley
  • Fleece Otley
  • Fleece Otley
  • Fleece Otley
  • Fleece Otley
  • Fleece Otley
  • Fleece Otley

Fleece Otley

Excellent Business Opportunity

The Fleece is situated close to the centre of Otley, not far from Leeds. The immediate vicinity of the pub is residential with some other local businesses nearby and it is approximately a 10-15 minutes walk from the centre of Otley, a historic market town occupied by all ages, including professional couples and families. Otley holds regular markets and is very close to the Otley Chevin Forest Park and the Yorkshire Dales National Park. The pub also backs onto the River Wharfe and has a fantastic large beer garden which overlooks the river. This feature is currently under-promoted. All these elements combined provide significant opportunity for the right operator to build an exciting and appealing offer which will increase footfall from locals and the many tourists, walkers and cyclists who visit the area.

Currently the pub has a traditional homemade classic food offer and can cater for approximately 40 covers. This offer works well and provides the right operator the opportunity to develop it. There is also an opportunity to develop a comprehensive events calendar.

Experienced Operator Wanted

We are looking for an experienced operator with a food focus who can demonstrate a proven track record within the licensed trade and can work with us to allow this pub to achieve it's full potential. Ideally applicants will have a good knowledge of the local area.

Pub Features

  • Rolling Tenancy
  • Car Parking
  • Catering Kitchen
  • Outdoor Trade
  • Private Accommodation
  • Pub Games
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

The Fleece has a traditional feel with a lot of natural finishes in wood and stone and retains some inviting features including two fire places giving it a cosy and welcoming feel.

The current layout features a separate room to the left as you walk in, which can be used as a function room. Carrying on into the pub it opens up into a big area with a galley style bar and large fireplace being focal points with mixed seating surrounding them. A small snug area is situated off the main area and has a pool table in it. The kitchen is a good size and in good condition.

Externally the pub is an imposing traditional stone building with picnic benches at the front, which has definite kerb appeal. There is a large attractive beer garden area at the rear which backs onto the canal. There is also car parking at the rear.

Private Accommodation

The private accommodation is of a good size and consists of 2 bedrooms, kitchen, bathroom, and lounge. Where required there will be appropriate works carried out in line with the Star Pubs & Bars Ready to Trade Promise.

Premises Licence Details

Please refer to the Premises Licence for full details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
10:00 - 00:00 10:00 - 00:00 10:00 - 00:00 10:00 - 00:00 10:00 - 01:00 10:00 - 01:00 10:00 - 23:00

Financials

Annual Rent £
20,250
Estimated Annual FMOP (Licensee Profit) £
23,068
Representative HEINEKEN UK Brand Discount Per Barrel £
137
Estimated Annual Turnover £
335,024
Estimated Annual Barrelage
224

The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details).

Historical volume figures may not include purchases made through 3rd Parties.

** All figures quoted are exclusive of VAT

*** FMOP = Fair Maintainable Operating Profit

Investment

Ingoing Costs
Estimated Licensee Fixtures & Fittings Value £
4,865
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
3,500
Deposit Amount £
5,063
Rent In Advance £
389
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
50
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
16,002
Estimated Minimum Ingoing Costs £
10,373

In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.

The Estimated Licensee Fixtures & Fittings (F&F) Value assumes that the pub will be let on a Rolling Tenancy or Business Start-Up Agreement, where we own the majority of the F&F. The F&F Value for Full Repairing & Insuring Leases will be significantly more.

The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent or £3,000 (whichever is greater) 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.

Other SP&B Ongoing Charges
Estimated Annual Buildings Insurance £
TBC
Estimated Annual Maintenance Compliance Charge £
1,463
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
Wet & Dry - from 6,108pa

The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details)

* 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

****** The above figures assume that rent is billed weekly in advance and that Star Pubs & Bars retain ownership of large fixtures and fittings. Initial costs for a Fully Repairing and Insuring lease will be higher as rent is invoiced monthly in advance and all fixtures and fittings must be purchased