Kings Head Wells

36 High St, Wells BA5 3LU

  • Kings Head Wells - 36 High St - Wells
  • Kings Head Wells - 36 High St - Wells
  • Kings Head Wells - 36 High St - Wells
  • Kings Head Wells - 36 High St - Wells
  • Kings Head Wells - 36 High St - Wells
  • Kings Head Wells - 36 High St - Wells
  • Kings Head Wells - 36 High St - Wells
  • Kings Head Wells - 36 High St - Wells
  • Kings Head Wells - 36 High St - Wells
  • Kings Head Wells - 36 High St - Wells
  • Kings Head Wells - 36 High St - Wells
  • Kings Head Wells - 36 High St - Wells

Kings Head Wells

Fantastic Opportunity for a High Street Pub

The subject of a major refurbishment, the Kings Head is a well presented pub located on the busy high street of the historic town of Wells. A stone's throw from the majestic Wells cathedral and surrounded by a wealthy local population, small independent retailers and larger chain stores, the pub benefits from a high level of passing trade.

Post-refurbishment, the Kings Head will be significantly repositioned to offer a premium traditional pub experience, including a good quality drinks offer, including premium beers, ciders, cask ales, wines and spirits and a great food offer including fresh fish, steaks and other locally sourced ingredients all freshly prepared and beautifully presented. The Kings Head will have a traditional pub feel, with a roaring fire, finished to high standards of quality and visual appeal.

Experienced Visionary Operator Needed!

The proposed plan will bring more food trade with room for at least 40 covers. The site boasts an enviable courtyard garden to the rear. With a function room, great food offering and cask ale provision, this pub is ideally suited to an experienced operator with a vision to take it to the next level.

Pub Features

  • Rolling Tenancy
  • Function Room
  • Music Venue
  • Refurbishment Planned
  • Catering Kitchen
  • Long-Term FRI Lease
  • Outdoor Trade
  • Private Accommodation
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

Internally, this is a two bar operation with a separate dining area that seats 40 covers and trade kitchen that is able to support a good food offering.

Additionally, the pub features a function room that can be used to host events such as private parties or games tournaments.

Externally, the pub boasts a courtyard garden which is a popular place to enjoy a drink on warm evenings.

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 consists of a one bedroom, lounge, kitchen, bathroom and office.

Premises Licence Details

See licence for full details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
11:00 - 00:00 11:00 - 00:00 11:00 - 00:00 11:00 - 00:00 11:00 - 00:00 11:00 - 00:00 11:00 - 00:00

Financials

Annual Rent £
55,500
Estimated Annual FMOP (Licensee Profit) £
55,874
Representative HEINEKEN UK Brand Discount Per Barrel £
125
Estimated Annual Turnover £
618,310
Estimated Annual Barrelage
188

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 £
38,430
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
4,000
Deposit Amount £
13,875
Rent In Advance £
1,067
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
60
Premises Licence Fee £
295
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
59,737
Estimated Minimum Ingoing Costs £
15,615

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 £
1,094
Estimated Annual Maintenance Compliance Charge £
1,089
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