Grey Horse Houghton Le Spring
Old Penshaw, Houghton Le Spring, DH4 7ERAgreement Type:
Foundation Tenancy
View details for Grey Horse Houghton Le Spring
Moat House
Moat House
Corporation Street, Taunton, TA1 4AH Pub Code: 2302159101
Pub Code: 2302159101
Investment TenancyEst. Annual Turnover: £631,323
Annual Rent: £42,280
A refurbishment of around £499,000 is planned to transform Moat House Taunton into a polished, premium late-night circuit bar for 25-45 year olds. What would you do with this pub to make it a success?
About the area
Moat House occupies a highly visible position on Castle Green in the heart of Taunton, close to the main shops, bus station, museums and the castle. Around 3,552 adults live within walking distance of the pub, and the surrounding town-centre hospitality scene is busy, with 21 competing venues within a 10-minute radius. The area already attracts customers looking for everything from all-day food and cocktails to louder late-night entertainment, giving Moat House the opportunity to establish a distinct place in the circuit.
The pub is currently closed, so the planned investment creates an opportunity to relaunch it with a clearly defined customer proposition. The refurbishment will reposition the venue to appeal to a broader and more diverse audience, particularly younger professionals and customers aged 25-45 looking for after-work socialising, quality drinks, good music and a more grown-up late-night atmosphere. The intention is to trade later than a typical cocktail bar, offer better quality than a standard late pub, feel more premium than a youth-skewing nightclub and provide a stronger entertainment offer than a restaurant bar.
The offer
Moat House Taunton is available on our investment tenancy agreement. Click here for more information on this agreement. Please refer to the 'Refurbishment Details' section for details of the investment being made.
Who we're looking for
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 Moat House Taunton will have extensive experience in late-night, wet-led and circuit bar hospitality businesses. They will have a clear vision for the drinks menu, entertainment calendar and marketing strategy, and can create a memorable experience for their customers.
The successful operator will understand how to build a premium late-night venue around a full drinks range and a strong programme of events. They will be able to create clear differentiation in a competitive town-centre market, balancing relaxed social occasions upstairs with a more energetic late-night experience downstairs.
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 of Moat House will cover both the interior and exterior of the pub. A full list of works and pub floor plan can be found in the Downloads section.
The pub's trading area and facilities post refurbishment will be:
- Two trading floors with a main bar area
- Snug area
- Approximately 50 internal covers
- Approximately 16 external covers
- Small patio overlooking the central square
- HEINEKEN SmartDispense
- Upstairs space with potential for private area hire
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
Private accommodation consists of three bedrooms, a large lounge, separate kitchen, bathroom and separate office room
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
£62,795
Annual
Estimated Annual Turnover
£631,323
Annual Rent
£42,280
Entry Costs
Deposit
£10,570
Estimated Fixtures & Fittings Value
£38,725
Stock Valuation
£10,000
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.
What we're planning & why
An investment of around £499,000 is planned to deliver a full internal and external refurbishment of Moat House. The scheme will bring the pub’s two trading floors back to life, create a stronger late-night identity, refresh the exterior and signage, improve the outside trading space and support a clear premium drinks and entertainment proposition. The private accommodation is also included within the refurbishment.
What's happening?
The pub is currently a shell, giving the investment the opportunity to reshape the customer experience across both trading floors. The upstairs area is planned to have a more relaxed feel, while the downstairs space will carry more energy and support the venue’s late-night positioning. This contrast will allow Moat House to serve different occasions through the evening, from after-work drinks and group socialising through to later-night entertainment.
Externally, new signage and a planned name change will signal the transformation to passing customers and help the venue stand out on Castle Green. A simple but effective outside trading area overlooking the central square will also create a visible place for customers to drink outside and make more of the pub’s prominent location.
The trading offer will be drinks-led, supported by a full beer range and a strong focus on events throughout the week. The concept recommendation includes signature cocktails, premium spirits, craft and draught beer, live music on selected nights, DJs from Thursday to Saturday, bookable booths, private area hire upstairs and a strong seasonal events calendar. The operator will be expected to turn this into a coherent premium late-night experience, with quality drinks, music and atmosphere as the key reasons to visit.
Why invest?
The investment is designed to give Moat House a clear point of difference in a competitive town-centre market. The local demographics create an opportunity for new positioning, while the current building and layout do not meet the expectations of the audience the business wants to attract. Reworking the interior, exterior, signage and outside space will allow the pub to relaunch with a more modern, premium identity and make better use of its location and two-floor trading format.
Based on the briefing, the refurbishment is anticipated to increase turnover by around £12,100 per week. This growth is expected to come from attracting a broader customer base, building after-work and early-evening trade, extending customer stays into the late evening and creating a stronger events-led reason to visit throughout the week.
To explore some of our recent successful pub investment projects, please see our Investment Showcase page.
Location:
Corporation Street, Taunton, TA1 4AH
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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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