Wedgewood
79-81 Abington Street, Northampton, NN1 2BHAgreement Type: Foundation Tenancy
View details for WedgewoodRefurbishment Planned
King William
2, Commercial Street, Northampton, NN1 1PJ
Pub Code: 2302385101
Key Features
- Refurbishment Planned!
- Well Established Venue
- Great Central Location
- Great Accomodation
Est Min Ingoing Costs: £42,453
Annual Rent: £35,812
More Information
A fabulous refurbishment will transform the King Billy into a premium drinks-led music venue, that is full of style. Inside, the pub will be redecorated throughout the whole ground floor. Other upgrades throughout the pub such as a re-vamped sports area and opening up the ceiling to reveal the mono pitch roof.
Outside, we will be upgrading the pub with a redecoration and quirky new signage that will appeal to a wider range of consumers with its new look and feel.
In the heart of the town
The King Billy is in the heart of Northampton town centre. Many people work in the centre of town and flock there for nights out. In addition to the circa 4,000 adults living within a ten minute walk of the pub, the town also attracts a lot of tourists. Being in the town centre, there are several nearby venues, however, the vision for the King Billy will be to be the best music venue in town.
Potential
The pub already has an established trade and strong reputation as great music venue. We believe that this refurbishment will set The King Billy above the local competition with it stylish décor. As well as music fans, it will be the venue of choice for the after-work drinkers mid-week and will also attract sports fans looking for a relaxed, safe and premium outlet to enjoy themselves into the early hours. The look and feel are different from anything in the immediate vicinity. All we’re looking for is the right person…
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 King Billy will have extensive experience in the hospitality businesses. They will have a clear vision for their entertainment offer, marketing strategy and drinks menu 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 pubs next chapter…
When refurbished, The King Billy will appeal to:
All ages and mixed groups
Live music fans
Customers looking for an after-work or weekend drink in a stylish venue
Offer:
When refurbished, The King Billy will offer:
A premium range of drinks including lagers, craft beers & ales, wines, spirits, and premium soft drinks
A great selection of premium on-trend snacks and food from pop up vendors
Coffees, which will form part of the offer for the early afternoon consumers
Regular live music and live entertainment.
Trading Area & Facilities
The King Billy will be undergoing a refurbishment which will cover the interior and exterior of the pub.
A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads.
The pubs trading area and facilities post refurbishment will be:
- Main trading area with bar
- An amazing funky outside trading area
- Redecorated toilets
- No car park on site but does benefit from public parking facilities only a 2 minute walk away
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
There is sizeable manager accommodation space stretched across 2 floors.
| Annual Rent | £ 35,812 |
| Estimated Annual Turnover | £ 543,544 |
| Deposit | £ 8,953 |
| Estimated Fixtures & Fittings Value | £ 20,000 |
| Estimated Stock Valuation | £ 10,000 |
| Estimated Working Capital | £ 3,500 |
| Estimated Total Ingoing Costs | £ 42,453 |
| Estimated Minimum Ingoing Costs | £ 42,453 |
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.
Location:
2, Commercial Street, Northampton, NN1 1PJ
More properties in this region
Five Bells
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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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