Edwards Bar South Queensferry
24 Hopetoun Road, South Queensferry, EH30 9REAgreement Type:
Foundation Tenancy
View details for Edwards Bar South Queensferry
Glen Tavern Dunfermline
Glen Tavern Dunfermline
110/112, Pittencrieff Street, Dunfermline, KY12 8AW Pub Code: 0080126101
Pub Code: 0080126101
Investment TenancyEst. Annual Turnover: £574,750
Annual Rent: £39,708
Pub Overview
A refurbishment of over £200,000 is planned to transform The Glen Tavern into a premium local with something for everyone, combining an upbeat sports-led pub offer with a more relaxed food-led side. This is a rare opportunity to run a well-established thriving business with a separate private accommodation included. What would you do with this pub to make it a success?
About the area
The Glen Tavern sits just outside Dunfermline town centre, directly opposite the car park and entrance to Pittencrieff Park, giving it strong visibility and a location that can appeal to both local regulars and passing trade.
There are 1,648 adults within a 10-minute walk and 9,405 adults within a 20-minute walk, giving the pub a solid catchment in an accessible town centre location.
Although there are seven competitors within walking distance, many are predominantly wet-led and have limited appeal, leaving room for The Glen Tavern to stand out with a more rounded, modern offer.
The offer
The Glen Tavern 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 The Glen Tavern will have broad hospitality experience. They will have a clear vision for a strong food and drink offer, create a compelling sports viewing experience, and a marketing strategy that builds day-to-night appeal across both sides of the pub 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 pub’s next chapter…
Trading Area & Facilities
Trading area
The refurbishment of the pub will cover both the interior and exterior. 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 dining room
- Separate games/sports zone
- Catering kitchen
- HEINEKEN SmartDispense
- 79 internal covers
- 62 external covers
- Pub garden
- 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 3 bedrooms, kitchen, bathroom and a living room.
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
£55,927
Annual
Estimated Annual Turnover
£574,750
Annual Rent
£39,708
Entry Costs
Deposit
£9,927
Estimated Fixtures & Fittings Value
£32,500
Stock Valuation
£10,000
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
Refurbishment details
An investment of approximately £213,000 investment is planned to deliver a full transformation of The Glen Tavern, including a revamp of the pub garden. The scheme will refresh the external appearance, modernise both internal trading areas and improve the overall customer experience, while also bringing the private accommodation up to standard.
What's happening?
The refurbishment will start with a full external redecoration and signage scheme to improve kerb appeal and draw in more passing trade.
Inside, the main bar will be completely refreshed with a traditional but modern look and feel to create a better drinking experience and give customers more reason to visit. The lounge and dining space will also be redecorated with a more cosy finish, helping to strengthen the food offer while also supporting a more casual drinking atmosphere later in the day.
The front porch area and rear beer garden will both be enhanced, creating a stronger first impression and opening up more seasonal trade opportunities on sunny days. The accommodation will also be redecorated.
Altogether, the pub is being repositioned as a destination site with something for every occasion, offering a higher-tempo sports-led drinking experience on one side and a more relaxed food-led offer on the other. The Glen Tavern is already well known for food, which gives the next operator something strong to build on, while the sports side will be strengthened with Sky, TNT and Premier Sports to broaden the pub’s appeal.
Why invest?
This investment is designed to help The Glen Tavern rebuild its reputation in the local community, make better use of underutilised potential, improve its sports and entertainment offer, meet modern customer expectations and capitalise on outdoor trading.
The refurbishment is expected to increase turnover to over £11,000 per week, driven by stronger kerb appeal, a more appealing split offer, better use of external space and a more rounded experience for a wider audience. More details of expected returns can be discussed at business plan stage.
To explore some of our recent successful pub investment projects, please see our Investment Showcase page.
Location:
110/112, Pittencrieff Street, Dunfermline, KY12 8AW
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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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