Travellers Rest Witton Gilbert
Front Street, Witton Gilbert, Durham, DH7 6TQAgreement Type: Foundation Tenancy
View details for Travellers Rest Witton Gilbert
Kings Head
Station Road, Lanchester, DH7 0EX
Pub Code: 0070384101
Key Features
- Fantastic Destination Pub
- 6 En-Suite Letting Rooms
- Catering Kitchen
- Outside Trading Areas
- Car Park
- Private Accommodation
Est Min Ingoing Costs: £21,354
Annual Rent: £70,242
More Information
Fantastic Destination Pub – Established Trade
The Kings Head is a fantastic destination pub with six en-suite letting rooms in the traditional, leafy village of Lanchester, County Durham. The pub has a prime location in the centre of the village facing onto the busy A691 ensuring excellent passing trade, as well as providing ease of access for destination trade. The desirable residential area also provides good local support.
The Kings Head currently offers a good quality home-cooked pub classics food menu, including tasty Sunday lunches, accompanied by an appealing selection of traditional beers and ales on draught and wine. The pub holds a regular quiz night and ad-hoc entertainment, as well as hosting a variety of functions. The current offer works well and ensures strong destination and local trade, but there is an opportunity to develop the events calendar and further boost trade.
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 Kings Head will have extensive experience in a similar hospitality business. They will have a clear vision for their food & drinks menu 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…
The Kings Head is a fantastic destination pub with six en-suite letting rooms in the traditional, leafy village of Lanchester, County Durham. The pub has a prime location in the centre of the village facing onto the busy A691 ensuring excellent passing trade, as well as providing ease of access for destination trade. The desirable residential area also provides good local support.
The Kings Head currently offers a good quality home-cooked pub classics food menu, including tasty Sunday lunches, accompanied by an appealing selection of traditional beers and ales on draught and wine. The pub holds a regular quiz night and ad-hoc entertainment, as well as hosting a variety of functions. The current offer works well and ensures strong destination and local trade, but there is an opportunity to develop the events calendar and further boost trade.
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 Kings Head will have extensive experience in a similar hospitality business. They will have a clear vision for their food & drinks menu 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
Internally, the pub has two trading areas both serviced by the bar, the room to the left is for drinking, casual dining and can also be hired for functions and the larger room to the right is for dining.
Externally, the pub sits on a large corner plot clearly visible from the road and has an appealing stone facade. There is a large car park to the rear and two outside trading areas, at the front and back, to help make the most of the summer months.
Externally, the pub sits on a large corner plot clearly visible from the road and has an appealing stone facade. There is a large car park to the rear and two outside trading areas, at the front and back, to help make the most of the summer months.
Private Accommodation
The private accommodation consists of bedrooms, lounge, kitchen and bathroom. Where required appropriate works will be carried out in line with the Star Pubs & Bars Ready to Trade promise.
| Annual Rent | £ 70,242 |
| Estimated Annual Turnover | £ 925,163 |
| Deposit | £ 17,561 |
| Estimated Fixtures & Fittings Value | £ 26,100 |
| Estimated Stock Valuation | £ 12,000 |
| Estimated Working Capital | £ 3,500 |
| Estimated Total Ingoing Costs | £ 59,161 |
| Estimated Minimum Ingoing Costs | £ 21,354 |
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:
Station Road, Lanchester, DH7 0EX
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Freephone:
08085 94 95 96
Email us at
enquiries@starpubs.co.uk
Or visit
www.starpubs.co.uk
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