Great Western Corsham

21 Pound Pill, Corsham SN13 9JA

  • Great Western Corsham
  • Great Western Corsham
  • Great Western Corsham
  • Great Western Corsham
  • Great Western Corsham
  • Great Western Corsham
  • Great Western Corsham

Great Western Corsham

Fantastic English Village Pub

An extensive refurbishment will transform the Great Western into a premium, English village pub. The Great Western is located in a premium setting, half a mile from Corsham Town Centre and within walking distance from a local school. There are more than 26,000 people living within a ten-minute drive, comprising mostly of professionals with above-average salaries, and high levels of disposable income. This makes it the perfect location for a quality pub with a great food offering.

A new commercial kitchen will enable a fantastic 'British Heritage' food offer produced from locally sourced ingredients. To support this exciting new menu, a brand new conservatory extension will accommodate an additional 20 covers. Together with a complete redecoration for a contemporary yet traditional style, and a refurbished drinking terrace, these updates will transform the pub into a must-visit destination for the whole community. The perfect place to enjoy quality meals and drinks in a cosy and relaxed environment, the Great Western is a truly exciting investment opportunity.

Exciting Opportunity For A Food Focused Operator

The successful candidate will have proven experience running a great food offering with a good knowledge of destination pubs.

Pub Features

  • Rolling Tenancy
  • Car Parking
  • Refurbishment Planned
  • Outdoor Trade
  • Private Accommodation

Trading Area & Facilities

Internally, post refurbishment there will be two distinct trading areas; one being a public bar and the other a restaurant style dining area. The pub will be fully redecorated with new or rejuvenated fixtures & fittings. There will also be a fantastic fully equipped catering kitchen that can cater for 50+ covers.
A new single story rendered extension will provide up to 20 more daily covers and will be used as a general dining area as well as a private dining space.

Externally, the pub will undergo a facelift with a new painting, lighting and signage scheme, ensuring excellent kerb appeal. There is a car park and this is complemented by sizeable outside trading area.

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 at the Great Western consists of three bedrooms, lounge, kitchen and bathroom. In line with our 'Ready To Trade Promise', should any works be required, we will ensure your private accommodation is in good order so that you can focus your energy on getting the business right.

Premises Licence Details

See premise license for full details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
12:00 - 23:00 12:00 - 23:00 12:00 - 23:00 12:00 - 23:00 12:00 - 01:00 12:00 - 01:00 12:00 - 23:00

Financials

Annual Rent £
36,750
Estimated Annual FMOP (Licensee Profit) £
37,560
Representative HEINEKEN UK Brand Discount Per Barrel £
115
Estimated Annual Turnover £
456,414
Estimated Annual Barrelage
250

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 £
20,700
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
5,000
Deposit Amount £
9,000
Rent In Advance £
692
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
60
Premises Licence Fee £
60
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
42,587
Estimated Minimum Ingoing Costs £
25,000

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 £
970
Estimated Annual Maintenance Compliance Charge £
1,150
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
5,950

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