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Gregory Arms Grantham
Gregory Arms Grantham
The Drift, Harlaxton, Grantham, NG32 1AD Pub Code: 0050269101
Pub Code: 0050269101
Foundation TenancyEst. Annual Turnover: £793,331
Annual Rent: £57,374
A refurbishment is planned to spend in the region of £111,148 to transform the Gregory Arms into a premium village pub with a great food offer, refreshed trading spaces and stronger kerb appeal. What would you do with this pub to make it a success?
About the area
The Gregory Arms is located in the village of Harlaxton, just outside Grantham. Harlaxton is a sought-after estate village with 900 years of history, picturesque red-brick cottages, a charming duck pond and the impressive backdrop of Harlaxton Manor.
The pub benefits from 780 adults within a 10-minute walk and 780 adults within a 20-minute walk. There is little direct competition within the immediate walk time, giving the Gregory Arms a strong opportunity to re-establish itself as the go-to local pub for the village.
The existing customer base has been limited, with the pub having been closed for several years and now trading on a temporary management agreement while rebuilding after the previous closure period. Historically, the offer has been more wet-led, value-led and traditional, attracting a loyal but more mature demographic with limited younger custom.
The refurbishment will reposition the pub to appeal to a broader and more diverse customer base, including families, casual diners, younger professionals, after-work socialisers and destination diners.
The offer
Gregory Arms 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 Gregory Arms will have extensive experience in food-led hospitality businesses. They will have a clear vision for the food and drink menu, events, entertainment and marketing strategy, 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
The refurbishment of the Gregory Arms will cover both the interior and exterior of the pub. 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
- Snug area
- Separate games/sports zone
- 106 internal covers
- 75+ external covers
- Catering kitchen
- HEINEKEN SmartDispense
- 2-bedroom private accommodation
- 2 letting rooms
- Pub garden
- Car park with 35+ spaces
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 two bedrooms, kitchen and bathroom.
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 range from**:
£22,844 - £78,153
Annual
Estimated Annual Turnover
£793,331
Annual Rent
£57,374
Entry Costs
Deposit
**Deposit build up from 1 month rent
**Deposit build up from 1 month rent
£14,344**
Estimated Fixtures & Fittings Value
**Rented fixtures & fittings deal available
**Rented fixtures & fittings deal available
£55,309**
Stock Valuation
£5,000
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
The Gregory Arms will benefit from a full internal and external refurbishment, with an estimated investment of £111,000. The project will transform the pub into a premium village pub with a stronger food offer, improved trading areas, upgraded external appeal and a refreshed customer experience.
Unlike standard terms for Investment Tenancies, we're offering the option to rent the Fixtures & Fittings for this pub. Ask us for more information!
What's happening?
Externally, the pub will be redecorated with new signage and lighting to improve kerb appeal and clearly signal a change in the pub’s positioning. This will help the Gregory Arms stand out from the roadside and communicate the premium offer planned for the site.
Internally, the refurbishment will create a high-quality, comfortable and well-zoned trading space designed to work for both local customers and destination diners. The pub will include a main trading area with bar, separate dining room, snug area and a sports lounge area.
A new kitchen will be introduced to support a strong food offer, with the vision centred around “great pub, great food”. The food offer has been inspired by The Wheel at Ticknall, combining local wet-led trade with destination dining appeal.
The drinks offer will focus on premium lagers and ciders, supported by a premium wines, spirits and minerals range. There is also an opportunity to develop daytime trade through coffee, while live music, quizzes, events and entertainment could help broaden the pub’s appeal. The brief notes no sports as part of the entertainment offer.
Why invest?
This investment is designed to rebuild the Gregory Arms’ reputation in the local community and unlock its potential as a premium village pub. The refurbishment will address dated design, underused areas, limited kerb appeal and the need for a kitchen capable of supporting a stronger food offer.
The refurbishment is anticipated to increase turnover by £4,000 to £5,000 per week, taking expected weekly turnover to £15,260.
To explore some of our recent successful pub investment projects, please see our Investment Showcase page.
The Wheel at Ticknall has recently undergone a similar style of transformation to what we are planning for Gregory Arms, with a strong destination food offer that also retains local wet trade.
Location:
The Drift, Harlaxton, Grantham, NG32 1AD
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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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