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Globe & Ale House Penzance
Globe & Ale House Penzance
1, Queen Street, Penzance, TR18 4BJ Pub Code: 0091502101
Pub Code: 0091502101
Investment TenancyEst Min Ingoing Costs: £16,695
Annual Rent: £22,638
A planned external refurbishment will transform this town centre local.
Nestled in the centre of busy tourist town of Penzance, the Globe & Ale House occupies a prominent corner position. Surrounded by shops and within easy walking distance to the beautiful promenade, this pub has the ability to attract a wide customer base ranging from shoppers and town locals to tourists visiting the beautiful Cornish coast.
The offer
The Globe & Ale House is available on our investment tenancy agreement. Click here for more information on this agreement.
The pub currently has a superb reputation for serving a large variety of fine cask ales, beers & ciders along with wines and spirits This drinks led, bustling town centre local proves popular at present with its entertainment offer and televised sporting events and this should feature significantly in any future business plan.
We’re always open to new ideas, what would you do to drive trade?
Attitude is more valuable than experience. If you’ve got the following, we’d love to hear from you.
- Understanding of the local community
- You know what it takes to build a successful business
- You love hospitality and are great with customers
- Good marketing ideas
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 Globe & Ale House will be undergoing a refurbishment which will cover the exterior of the pub.
The pubs trading area and facilities post refurbishment will be:
- Main trading area with central bar
- 40 internal covers
- 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 & Bars, 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
The private accommodation consists of 2 bedrooms, a living room, kitchen and bathroom.
Estimated Total Ingoing Costs
£16,695
Estimated Minimum Ingoing Costs
£16,695
Annual Rent
£22,638
Estimated Annual Turnover
£333,692
Deposit
£5,660
Estimated Fixtures & Fittings Value
£2,535
Estimated Stock Valuation
£2,800
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:
1, Queen Street, Penzance, TR18 4BJ
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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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