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
  • 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.

The Hope & Anchor currently provides a standard pub food offer, but we are looking for an operator who will develop the food offer to be classic but premium. The pub currently shows Live Sports and has pub games including a pool table. There is an opportunity to develop a comprehensive events calendar to increase the pub's income stream.

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 refreshed, contemporary decor complete with new or revamped fixtures & fitting and soft finishes throughout. It will have natural finishes in wood and stone along with warm coloured soft furnishings to make for a cosy, welcoming feel. Currently the pub has a traditional feel and retains some inviting features including two fireplaces.

The current layout is open plan with the bar being the focal point in the centre and the mixed seating going round it. 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.

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 £
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 £
1,979
Estimated Annual Maintenance Compliance Charge £
0
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