Greyhound Riccall
Greyhound Riccall
82, Main Street, York, YO19 6TE Pub Code: 2301211101
Pub Code: 2301211101
Foundation TenancyEst. Annual Turnover: £514,316
Annual Rent: £35,173
A refurbishment of around £142,000 is planned to give the Greyhound a full transformation, including a revamp of the pub garden, and create a stronger village pub for local customers and families. What would you do with this pub to make it a success?
About the area
The Greyhound is in the attractive village of Riccal, with local amenities and good transport links, including convenient access to the A19 and York. There are 2,003 adults within a 10-minute walk of the pub.
Only one other pub competitor is identified in the briefing document, making the Greyhound one of just two pubs in the immediate village market. This gives the business a strong opportunity to establish itself as a central local destination after refurbishment.
The Greyhound currently trades predominantly as a wet-led pub and attracts a loyal but more mature customer base. The investment will reposition it for a broader and more diverse audience, with particular potential to attract families and casual diners while retaining its existing community trade.
The offer
Greyhound, Riccal 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 the Greyhound will have extensive experience in village and community hospitality businesses. They will have a clear vision for the food and drink menu, family-friendly customer experience and local 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 scheme is described as a full transformation of the Greyhound, including a revamp of the pub garden. 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
- 78 internal covers
- 20 external covers
- 16m² catering kitchen
- HEINEKEN SmartDispense
- Three-bedroom private accommodation
- Pub garden
- Car park with 12 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 3 bedrooms, box room a living room, kitchen, 2 bathrooms, one only is ensuite and office.
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
£44,293
**Deposit build up from 1 month rent
**Rented fixtures & fittings deal available
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
An estimated £142,000 investment is planned as a full transformation of the Greyhound, including a revamp of the pub garden. The scheme is intended to modernise the customer environment, strengthen the pub’s village appeal and create a better platform for food, drink and family occasions. Private accommodation is also included in the refurbishment.
What's happening?
The brief describes a full transformation of the pub, including the garden, giving the Greyhound the opportunity to create a more contemporary and welcoming experience inside and out.
The current design and layout are identified as no longer meeting modern customer expectations, so the investment will provide an opportunity to refresh the overall customer environment and rebuild the pub’s reputation in the local community.
The existing 16m² catering kitchen gives the business a base for food, while the briefing identifies the current kitchen offer as an area that needs to better support a strong food proposition. The successful operator will need a clear and deliverable menu that suits the village and family market.
The refurbished garden, 20 external covers and 12-space car park will help broaden the occasions for which customers can use the pub, particularly during warmer months and for casual family visits.
Why invest?
The investment will help the Greyhound move beyond its current predominantly wet-led, mature customer base by creating a more modern village pub with stronger family and food potential. The full transformation and garden revamp should increase the reasons to visit, broaden the pub’s appeal and support stronger trading across the week.
The briefing projects turnover to reach approximately £514,000 following the refurbishment.
To explore some of our recent successful pub investment projects, please see our Investment Showcase page.
Location:
82, Main Street, York, YO19 6TE
Selected pub
Other pubs
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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