Hope & Anchor Greatham

High Street, Hartlepool TS25 2EN

  • Hope & Anchor Greatham
  • Hope & Anchor Greatham
  • Hope & Anchor Greatham
  • Hope & Anchor Greatham
  • Hope & Anchor Greatham
  • Hope & Anchor Greatham

Hope & Anchor Greatham

Superb Business Opportunity

The Hope & Anchor is a popular high street pub in the village of Greatham, situated very close to Hartlepool, and is about to benefit from a transformative investment to update both the interior and exterior. It is situated near to other local businesses on the main thoroughfare through Greatham. The village has a traditional feel and is mainly occupied by professional couples and families. A new housing development is due to be built in the village which will boost the population and create an excellent opportunity to increase footfall. Being so close to Hartlepool this also provides the opportunity for the Hope & Anchor to become a destination pub and provide the right operator with an opportunity to build an exciting and appealing offer.

Post-refurbishment, the Hope & Anchor will be a stylish and welcoming pub with a sophisticated finish, providing the perfect place for customers to meet and socialise over food, drinks and games. Star Pubs and Bars envision the pub to provide a great food menu, offering options to cater for several different dining occasions, a great drinks selection, including a broad selection of gins, premium wines and beers, a fun and sociable games room and an inviting outside space, which can be use all year round.

Highly Experienced Operator Wanted

We require an operator who can demonstrate a proven track record within the licensed trade and who can work with us to allow this pub to achieve it's full potential. Applicants should be aware refurbishment details are yet to be finalised and accordingly, commercial terms including the rent and in-going costs are subject to review and sign off.

Pub Features

  • Rolling Tenancy
  • Car Parking
  • Refurbishment Planned
  • Catering Kitchen
  • Live Sports
  • Outdoor Trade
  • Private Accommodation
  • Pub Games
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

Once the planned works are complete, the Hope & Anchor will showcase a traditional pub decor with a modern, industrial twist. The refurbishment will involve a complete transformation of the current space, creating different drinking zones with a mixture of quality finishes and furniture.

The left-hand side of the bar will be removed to maximise the service area and create a prime retail space in the main bar area. A new, stripped-back bar will provide a great space to enjoy drinks, whilst the dining area will offer a relaxed environment to enjoy a delicious bite to eat. This, combined with a new games room, will transform the Hope and Anchor into a fun, lively and much-loved pub.

The current kitchen will be improved where required to enable an increased food offer.

Externally the pub will undergo a facelift which will see much improved kerb appeal through a new lighting & signage scheme. There is a car park to the rear of the pub, as well as an outside seating area, which adds real appeal to the pub especially in the summer months.

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 is of a good size, suitable for a family. It consists of 3 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

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
11:00 - 23:00 11:00 - 23:00 11:00 - 23:00 11:00 - 23:00 11:00 - 23:00 11:00 - 23:00 12:00 - 22:30

Financials

Annual Rent £
34,000
Estimated Annual FMOP (Licensee Profit) £
35,020
Representative HEINEKEN UK Brand Discount Per Barrel £
135
Estimated Annual Turnover £
417,273
Estimated Annual Barrelage
244

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 £
26,000
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
4,000
Deposit Amount £
8,500
Rent In Advance £
654
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 £
41,339
Estimated Minimum Ingoing Costs £
12,018

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 £
1,979
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