Malt Shovel Menston

Main Street, Menston, Menston LS29 6LL

  • Malt Shovel Menston
  • Malt Shovel Menston
  • Malt Shovel Menston
  • Malt Shovel Menston
  • Malt Shovel Menston
  • Malt Shovel Menston

Malt Shovel Menston

Superb Business Opportunity

The Malt Shovel is a popular main street pub in the village of Menston, situated close to the historic market town of Otley. The pub is currently being considered for Investment, however this is to be confirmed. Any investment would potentially include an update of both the interior and exterior. The pub is situated near to other local businesses in the centre of Menston, an affluent village mainly occupied by professional couples and families. Being close to Otley, the Otley Chevin Forest Park and the Yorkshire Dales National Park there is significant opportunity for the right operator to build an exciting and appealing offer which will increase footfall from locals and the many tourists, walkers and cyclists who visit the area.

The kitchen is being considered for investment and should this go ahead we would look for the operator to introduce a classic but premium food offer, which would provide an additional income stream. There is also an opportunity to develop a comprehensive events calendar.

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. Ideally applicants will have a good knowledge of the local area. Applicants should be aware investment 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
  • Outdoor Trade
  • Private Accommodation
  • Cask Ale
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

The Malt Shovel is being considered for investment and refurbishment of the interior would potentially include a refreshed, contemporary decor complete with new or revamped fixtures & fitting and soft finishes throughout. Currently the pub has a traditional feel with a lot of natural finish in wood and retains some inviting features including ceiling beams and cornicing and a fire place giving it a cosy and welcoming feel. The building is listed.

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 is not ready for trading and this would need to be rectified to enable the introduction of a food offer.

Externally the pub is an imposing traditional stone building, which has definite kerb appeal. If investment goes ahead the external of the pub would potentially undergo a facelift to increase kerb appeal through a new lighting & signage scheme. There is car parking at the front and a very appealing outside seating area in the rear garden.

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 or couple. It consists of 2 bedrooms, kitchen diner, 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

Please refer to the Premises Licence for further 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 - 00:00 11:00 - 00:00 11:00 - 00:00 11:00 - 23:30

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 £
TBC
Estimated Annual Maintenance Compliance Charge £
TBC
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