Apple & Parrot

Corporation Street, Taunton TA1 4AH

  • The Moat House Taunton
  • The Moat House Taunton
  • The Moat House Taunton
  • The Moat House Taunton
  • The Moat House Taunton
  • The Moat House Taunton

Apple & Parrot

Refurbishment Planned!

Earmarked for a £370k investment by Star Pubs & Bars, Apple & Parrot is a very attractive pub in a prime position. Located in the centre of the stunning, historical town of Taunton and surrounded by equally as striking buildings and casual dining venues, the Apple & Parrot has the opportunity to attract superb footfall. Residents and future customers occupying this central location are a mixture of professionals and families all looking for a relaxed dining and drinking experience.

At present, the pub focuses on the drinks element of the trade and acts as a karaoke venue. This means there is untapped potential to add a competitively priced, trendy breakfast, lunch and dinner offer which will appeal to a much broader family and professional demographic. A new food offer will complement the planned internal and external refurbishment works.

Innovative, Energetic Operator Wanted

Do you have a passion for delivering an excellent offer and superb business management skills? If so, we would love to hear from you. As this is quite a large site, previous experience in managing large operation is desired.

Pub Features

  • Rolling Tenancy
  • Refurbishment Planned
  • Private Accommodation
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

Inside, the Apple & Parrot has a rustic feel and is in need of a complete overhaul. Planned works include rejuvenating the flooring, redecorating the servery & dining areas and ensuring a modern yet sympathetic feel is created. New fixtures and fittings will also be introduced to ensure guest comfort.

Outside, the pub will receive a face-lift with an improved lighting and signage scheme.

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

Private accommodation consists of three bedrooms, a lounge and kitchen. In line with our Ready To Trade promise, we will ensure your property is in good repair so you can focus your energy on your new business.

Premises Licence Details

For further details, please refer to the Premises Licence.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
07:30 - 04:00 07:30 - 04:00 07:30 - 04:00 07:30 - 04:00 07:30 - 04:00 07:30 - 04:00 09:00 - 02:30

Financials

Annual Rent £
46,250
Estimated Annual FMOP (Licensee Profit) £
47,943
Representative HEINEKEN UK Brand Discount Per Barrel £
150
Estimated Annual Turnover £
634,880
Estimated Annual Barrelage
297

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 £
24,386
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
6,000
Deposit Amount £
11,563
Rent In Advance £
889
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
60
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
45,033
Estimated Minimum Ingoing Costs £
35,000

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 £
1,981
Estimated Annual Maintenance Compliance Charge £
1,463
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
6,108

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