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

Golden Lion Whitby

Cosy Seaside Town Pub - 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.

The Golden Lion is currently a traditional wet-led pub, offering some entertainment in the form of karaoke and live music. Once the pub has undergone refurbishment by Star Pubs & Bars the site will have the potential to develop into a vibrant go to spot for socialising and eating. As part of the refurbishment the pub will have a catering kitchen to allow the new operator to introduce a tasty food offer, such as pizzas and shared platters, all served in a friendly atmosphere. A complimentary drink offer should also be introduced, including craft beer and premium spirit options to build the pub's appeal. The events calendar should also be updated to drive additional custom.

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

Once the planned works are complete, the Golden Lion will showcase a refreshed, contemporary interior decor complete with new or revamped fixtures & fitting and soft finishes throughout. Currently the pub has a traditional style with original fireplaces and a cosy feel.

The current layout consists of 2 separate rooms linked by a corridor, both with their own bar.

Externally the pub has a green painted facade and as part of the refurbishment plans the outside will undergo a facelift, which will see much improved kerb appeal through a new lighting & signage scheme.

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 £
TBC
Estimated Annual FMOP (Licensee Profit) £
TBC
Representative HEINEKEN UK Brand Discount Per Barrel £
TBC
Estimated Annual Turnover £
TBC
Estimated Annual Barrelage
TBC

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 £
TBC
Estimated Fixtures & Fittings Valuation Fee £
TBC
Estimated Stock Valuation £
TBC
Deposit Amount £
TBC
Rent In Advance £
TBC
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
TBC
Premises Licence Fee £
TBC
Rates Assessment Fee £
TBC
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
TBC
Estimated Minimum Ingoing Costs £
TBC

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 £
TBC
Estimated Annual Maintenance Compliance Charge £
TBC
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