Victoria Lostock Hall
54 Watkin Lane, Lostock Hall, Preston, PR5 5RDAgreement Type:
Investment Tenancy
View details for Victoria Lostock Hall
Millstone Newton Le Willows
Millstone Newton Le Willows
71, Mill Lane, Newton Le Willows, WA12 8BG Pub Code: 2302172101
Pub Code: 2302172101
Investment TenancyEst. Annual Turnover: £289,397
Annual Rent: £18,500
A £349,798 investment is planned to fully refurbish the Millstone Newton Le Willows into a standout premium local at the heart of the community. What would you do with this pub to make it a success?
About the area
The Millstone is positioned in the heart of a residential estate in Newton Le Willows, right next to a 200-space car park serving the main trainline between Liverpool and Manchester. Its location means it is the closest pub to the surrounding homes, with 1,272 adults living within walking distance.
While the main high street - around half a mile away - offers a range of bars and cafés, the Millstone has no immediate competitors and is uniquely placed as the true neighbourhood local. Having been closed for five years, there is strong opportunity to reintroduce the pub as a welcoming, modern premium local that better reflects today’s expectations.
Historically, the pub has been predominantly wet-led, attracting a loyal but more mature demographic, with limited younger custom and a basic offer restricting destination visits. Following refurbishment, the pub will appeal to a broader and more diverse customer base, becoming a go-to spot for younger professionals and after-work socialising, while still serving its established community.
The offer
Millstone Newton Le Willows is available on our investment tenancy agreement. Click here for more information on this agreement.
Who we're looking for
Attitude is more valuable than experience. If you’ve got the following, we’d love to hear from you.
- Understanding of the local community
- You know what it takes to build a successful business
- You love hospitality and are great with 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
The refurbishment will cover both the interior and exterior of the pub.
The pub's trading area and facilities post refurbishment will be:
- Main trading area with bar
- Snug area
- 60 internal drinking covers
- 60 external covers
- Revamped pub garden
- 15-space car park
- HEINEKEN SmartDispense system
- Three-bedroom private accommodation
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, 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 three bedrooms, lounge, kitchen and two bathrooms.
With our 5 Star Promise, the rent at the start of your agreement is fixed until the end of its initial term.
Indicative entry costs
£41,625
Annual
Estimated Annual Turnover
£289,397
Annual Rent
£18,500
Entry Costs
Deposit
£4,625
Estimated Fixtures & Fittings Value
£28,500
Stock Valuation
£5,000
Working Capital Required
£3,500
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:
71, Mill Lane, Newton Le Willows, WA12 8BG
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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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