Golden Lion Whitby

Golden Lion Bank, Whitby, Whitby YO21 3BS

  • Golden Lion Whitby
  • Golden Lion Whitby
  • Golden Lion Whitby
  • Golden Lion Whitby
  • Golden Lion Whitby
  • Golden Lion Whitby

Golden Lion Whitby

Cosy Seaside Town Pub - Extensive Refurbishment Planned

Due for refurbishment, the Golden Lion is a cosy pub in the popular seaside town of Whitby. Whitby sits at the mouth of the River Esk in the borough of Scarborough and county of North Yorkshire. The pub is located in the town centre surrounded by shops, pubs and other local businesses and is also very close to the River Esk. Whitby is known as a tourist destination with attractions including the gothic Whitby Abbey and Captain Cook museum, and is enhanced by its proximity to the North Yorkshire Moor National Park and its Heritage Coastline. This excellent location provides a wide customer base including both the local community and visitors to the area.

Following it's transformation the Golden Lion will become a stylish bar with a premium feel, which will appeal to tourists, locals and passing trade drawn in by the new quirky yet premium bub exterior. It also has a proposed name change to 'The Salty Dog'. With a complete refurbishment, the pub will be able to fully utilise the available space and enable the introduction of a brand-new vibrant food offering. Star Pubs and Bars envision the pub's offer will include a fantastic drinks range from beer through to spirits and cocktails and a delicious pizza and tapas menu served as trendy sharing platters. This will all be presented in the warm atmosphere of a rustic yet modern venue.

Enthusiastic and Innovative Operator Wanted

Are you an innovative & vibrant operator? If so, we would love to hear from you. We are looking for someone with experience in operating a successful business and the vision to develop the pub to its full potential through serving excellent products with passion and quality.

Pub Features

  • Rolling Tenancy
  • Music Venue
  • Refurbishment Planned
  • Catering Kitchen
  • Private Accommodation
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

Extensive Refurbishment Planned - An extensive refurbishment will truly transform the Golden Lion from a local wet-led pub into a stylish bar with a premium feel. Major works, including removing a main wall in the lobby and adding a feature spiral staircase to the first floor, will almost double the available trading area. The interior decor will be given a rustic yet modern feel and completed with new or revamped fixtures & fitting and soft finishes throughout. The existing kitchen will be completely refurbished, allowing the Golden Lion to offer a new bespoke pizza and tapas menu.

Externally the pub will be given a quirky yet premium pub exterior and see much improved kerb appeal through a new lighting & signage scheme. It also has a proposed name change to 'The Salty Dog'.

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 upstairs consists of two 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 further details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
10:00 - 02:00 10:00 - 02:00 10:00 - 02:00 10:00 - 02:00 10:00 - 02:00 10:00 - 02:00 11:00 - 00:00

Financials

Annual Rent £
38,000
Estimated Annual FMOP (Licensee Profit) £
37,754
Representative HEINEKEN UK Brand Discount Per Barrel £
135
Estimated Annual Turnover £
466,219
Estimated Annual Barrelage
262

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 £
18,500
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
4,000
Deposit Amount £
9,500
Rent In Advance £
731
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 £
34,916
Estimated Minimum Ingoing Costs £
12,519

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 £
928
Estimated Annual Maintenance Compliance Charge £
1,463
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
6,108

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