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Lock Vaults Hoole

29, Hoole Lane, Chester, CH2 3DU

Pub Code: 2302352101

Key Features

  • Canal side location, prominently positioned on the edge of Hoole
  • Located at the heart of an up and coming residential area and on the edge of Chester City centre
  • Ideally positioned to be at the heart of the local Community
  • Large Scale Investment Planned

Est Min Ingoing Costs: £57,118

Annual Rent: £37,236

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More Information

Transformational refurbishment planned to create a modern craft & cask led, locals ale house.

What would you do with this pub to make it a success?

The area

The Lock Vaults is in the affluent Chester suburb of Hoole, often referred to as the Nottinghill of Chester. The site is a short walk from the shops and amenities on Hoole High Street and next to the Shropshire Union Canal. The area directly surrounding the pub has seen massive investment in recent years to transform the industrial canal area into a thriving Canal Side with numerous blocks of flats, home to the many young professionals that live in this area.

The offer

The Lock Vaults is available on our investment tenancy  agreement. Click here for more information on this agreement. 

When refurbished, the Lock Vaults will offer:

  • Cask ale, craft beers, premium lagers alongside a premium range of spirits and cocktails.
  • Artisan pizza’s with simple sides. Perfect for those ‘with beer’ occasions.
  • Barista style coffee to encourage locals working from home to use the pub during the day.
  • Entertainment such as quizzes and occasional live music.

We’re always open to new ideas, what would you do to drive 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 Lock Vaults will have extensive experience in community led hospitality businesses. They will have a clear vision for their food & 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…

  • Catering Kitchen

  • Private Accommodation

  • Refurbishment Planned

  • Rolling Tenancy

Trading Area & Facilities

 

Retain existing counter and backfitting, modify front counter near entrance.

Decorations to bar front cladding, upgradExternal

Re-decorate complete, including pre-paint repairs

New signage & lighting scheme

Repairs to replace all ground floor windows with new including double glazed units.

Repairs to existing render / steelwork lintels / timber strap details

New aluminium bi-fold doors to window openings to corner of building including new balustrade.

Clear existing rear yard areas

Repairs to existing fire escape door

 

Loungee backfitting with new displays, new overbar glass storage

Allow for timber floor to lounge area, new tiled floor to transition area

Allow to re-sand existing timber flooring to main bar area

New matting to lobbies and kitchen access

New feature fireplace and feature metal frame shelving to lounge area

Overhaul existing shelving display

Hack off plasterwork to expose brickwork to feature wall areas.

Re-decorate complete

 

Trade Kitchen

 

New equipment layout & extraction in line with Kitchen Specialist plans

New ceiling, saniclad / ss cladding to all walls

New altro flooring

New lighting and services in line with layout

 

Gents Toilets

 

New ceiling, re-tile walls to dado level, new sanitaryware including new pod urinals

Re-decorate complete

New tiled flooring, new ironmongery to doors

New radiator, lighting and ventilation

New vanity unit

 

Ladies Toilets

 

New ceiling, re-tile walls to dado level, new sanitaryware

Re-decorate complete

New tiled flooring, new ironmongery to doors

New radiator, lighting and ventilation

 

Accessible WC

Allow to clean and minor repairs, new altro flooring

Re-decorate complete

New radar lock

 

Cellar

 

Decorations to cellar areas

Replace sump pump, new cellar cooling and new cellar drop flaps

 

Please be aware that all refurbishments are subject to final board approval which will be determined as part of the recruitment 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

Private accommodation consists of 3 bedrooms, a living room, kitchen and bathroom.  Where required there will be appropriate works carried out in line with the Star Pubs & Bars Ready to Trade promise.

Premises Licence Details

For the full licensing details, please refer to the premises license.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
10:00 -
00:30
10:00 -
00:30
10:00 -
00:30
10:00 -
00:30
10:00 -
01:30
10:00 -
01:30
11:00 -
00:30

Annual Rent £
37,236
Estimated Tenants Annual Operating Profit £
39,235
Representative HEINEKEN UK Brand Discount Per Barrel £
140
Estimated Annual Turnover £
427,492
Estimated Annual Barrelage
238
* 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

Ingoing Costs
Estimated Licensee Fixtures and Fittings Value £
40,483
Estimated Fixtures and Fittings Valuation Fee £
250
Estimated Stock Valuation £
5,000
Deposit Amount £
9,309
Rent in Advance £
716
Training Fee £
425
Estimated Designated Premises Supervisor / Manager Fee £
50
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
57,118
Estimated Minimum Ingoing Costs £
57,118
In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
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 are not included in the rent model or ongoing costs below.
Note that on FRI 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.
Other SP&B Ongoing Charges
Estimated Annual Building Insurance £
2,030
Estimated Annual Maintenance Compliance Charge £
1,862
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
6108
Estimated Annual Repairs Fund £
1300
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
** 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

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