Jolly Potters Chesterton
Crackley Bank, Newcastle, ST5 7ABAgreement Type:
Just Add Talent
View details for Jolly Potters Chesterton
Gateway Reading
Gateway Reading
Greyfriars Road, Reading, RG1 1PA Pub Code: 0020614101
Pub Code: 0020614101
Investment TenancyEst Min Ingoing Costs: £37,716
Annual Rent: £33,783
The Railway Tavern offers a great opportunity for someone who wants to take on a well-backed, newly refurbished pub with plenty of potential.
What would you do with this pub to make it even more of a success?
The Area:
The pub benefits from being one of 30 pubs in an area of around 5,000 adults. The local customer base is made up of mid to high affluence town-centre residents and a large number of transient consumers using local amenities.
The Railway Tavern is in a prime town centre location in Reading, with a train station and high street amenities just a short walk away. It’s ideally placed to serve a wide range of customers - from regular locals and after-work drinkers to sports fans and weekend socialisers.
The Offer:
The Railway Tavern is available on our investment tenancy agreement. Click here for more information on this agreement.
The refurbishment includes full internal and external redecoration, new flooring, upgraded toilets, new signage and lighting, and some new furniture and bric-a-brac. The bar will be resized to allow for the addition of darts and pool - enhancing the pub's sports and community offer. The external shelter will also be redecorated to improve kerb appeal.
This is a great opportunity to take on a vibrant town centre pub with a strong focus on sports and a welcoming feel for locals. With the right operator and a strong rhythm of the week, there’s real potential for this pub to stand out in Reading’s busy market.
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 Railway Tavern will have extensive experience in hospitality businesses. They will have a clear vision for their rhythm of the week, sports offer and customer service, and can create a memorable town centre experience that appeals to a broad mix of 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 pub’s next chapter…
Trading Area & Facilities
The Railway Tavern will be undergoing a refurbishment which will cover the internal and external areas of the pub.
A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads section.
The pub’s trading area and facilities post refurbishment will be:
- Main trading area with bar
- 88 internal covers
- 18 external covers
- Space for pool and darts
- HEINEKEN SmartDispense®
- Four-bedroom private accommodation
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 four bedrooms, kitchen, bathroom, lounge, toilet and office.
Estimated Total Ingoing Costs
£37,716
Estimated Minimum Ingoing Costs
£37,716
Annual Rent
£33,783
Estimated Annual Turnover
£441,321
Deposit
£8,446
Estimated Fixtures & Fittings Value
£20,770
Estimated Stock Valuation
£5,000
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:
Greyfriars Road, Reading, RG1 1PA
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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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