Blacksmiths Arms
High Street, Coventry, CV8 3EYAgreement Type: Investment Tenancy
View details for Blacksmiths ArmsRefurbishment Planned
Friendly Inn
Main Street, Rugby, CV23 9NY
Pub Code: 2303081101
Key Features
- Cask Ales
- Car Park
- Destination Outlet
- Private Accomodation
Est Min Ingoing Costs: £34,781
Annual Rent: £24,723
More Information
Excellent location
The Friendly Inn is located in the picturesque village of Frankton, near Rugby. The pub itself sits on Main Street and is surrounded by strong demographics, with c500 adults living within a 20 minute walk consisting of mostly high affluence. There is no competition in the immediate area. The nearest pub is a 40 minute walk away.
Great potential
The Friendly Inn already operates to a decent level. The planned refurbishment will expand upon this with a full internal and external re-decoration. These changes, alongside the ability to offer a great home cooked food menu that people are happy to travel for, will give the pub the ability to appeal to a broad spectrum of consumers who want to meet friends throughout the year. With 40 covers split across the different trading areas, this pub has bags of potential. All we are looking for is the right operator….
When refurbished, the Friendly Inn will appeal to a broad spectrum of customers, including:
The great local community from the village and neighbouring towns and other villages People looking for great quality food and drink who enjoy visiting a traditional village pub.
Trading Area & Facilities
Fantastic refurbishment planned
A complete refurbishment will transform the Friendly Inn into a great pub with great food. The pub has a traditional interior with a layout of two distinct rooms. We will be carrying out a sympathetic refurbishment which will include, strip, stain and repolish existing timber bar with new front cladding, strip and restain the existing timber floors as well as adding new carpets, re-decoration and new fixtures and fittings.
Externally, we will be giving the pub a ‘face-lift’ by installing attractive signage and lighting to increase the pubs kerb appeal. We will also create a new feature lobby entrance along with refurbishing the existing covered area.
Private Accommodation
The pub has 3 bedrooms, one with an ensuite. It has a lounge, bathroom, kitchen and office.
| Annual Rent | £ 24,723 |
| Estimated Annual Turnover | £ 376,921 |
| Deposit | £ 6,181 |
| Estimated Fixtures & Fittings Value | £ 20,100 |
| Estimated Stock Valuation | £ 5,000 |
| Estimated Working Capital | £ 3,500 |
| Estimated Total Ingoing Costs | £ 34,781 |
| Estimated Minimum Ingoing Costs | £ 34,781 |
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:
Main Street, Rugby, CV23 9NY
More properties in this region
Woodland Tavern Leamington Spa
3 Regent Street, Leamington Spa, CV32 5HWAgreement Type: Just Add Talent
View details for Woodland Tavern Leamington SpaTo 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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