Nags Head Kirkby In Ashfield
Nags Head Kirkby In Ashfield
Station Street, Nottingham, NG17 7AN Pub Code: 2303195101
Pub Code: 2303195101
Investment TenancyEst. Annual Turnover: £379,967
Annual Rent: £23,958
A refurbishment in the region of £100,000 is planned for the Nags Head, Kirkby in Ashfield, transforming it into a refreshed community pub with a revitalised interior and a dedicated darts and entertainment area. What would you do with this pub to make it a success?
About the area
The Nags Head occupies a central position on the main high street in Kirkby in Ashfield town centre. Around 3,685 adults live within a 10-minute walk of the pub, with a good mix of age groups in the local catchment. The town centre has an established hospitality scene, with four other pubs nearby.
The pub currently attracts a predominantly drinks-focused customer base through its traditional, value-led offer. The refurbishment will retain its role as a community pub while giving it a fresher, more distinctive identity. The improved interior and entertainment facilities will help broaden its appeal, attract a more diverse customer base and encourage customers to stay longer and visit more often.
The offer
The Nags Head 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 the Nags Head will have extensive experience in busy, drinks-led community hospitality businesses. They will have a clear vision for the drinks offer, darts and entertainment activity, and marketing strategy, 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 pub's next chapter...
Trading Area & Facilities
The refurbishment will cover the interior of the pub, including the trading areas and private accommodation. 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:
- Main trading area with bar
- Snug area
- Separate games and sports zone with darts area
- 79 internal covers
- 65 external covers
- Small patio
- HEINEKEN SmartDispense
- Refurbished private accommodation with two bedrooms, kitchen, bathroom and living room
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
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
£34,490
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
A planned internal refurbishment in the region of £100,000 will transform the Nags Head into a modern, welcoming community pub. The project will refresh the pub throughout, introduce a dedicated games and entertainment zone, enhance the darts offer and improve the two-bedroom private accommodation.
What's happening?
The full interior revamp will update the décor and make the pub a more attractive and distinctive choice in the town centre. The refreshed main trading area, bar and snug will provide a stronger setting for the pub's established drinks-led trade, while the separate games and sports zone will create a clear focal point for darts and entertainment.
Improved darts and entertainment facilities are intended to increase dwell time and support a higher spend per head. With 79 internal covers, HEINEKEN SmartDispense and a refreshed atmosphere, the Nags Head will be well placed to retain its existing customers while attracting a wider range of consumers. The new operator will need to make the most of the improved facilities through a strong drinks offer, engaging entertainment activity and consistent local marketing.
The private accommodation will also be refurbished, providing two bedrooms, a kitchen, bathroom and living room for the incoming operator.
Why invest?
The investment will give the Nags Head a fresher identity and a more effective layout for community drinking, darts and entertainment. By broadening the pub's appeal, increasing dwell time and supporting higher spend per head, the refurbishment is anticipated to increase annual turnover from approximately £261,000 to £379,000.
To explore some of our recent successful pub investment projects, please see our Investment Showcase page.
The Upton Arms, Pontefract, has recently undergone a similar transformation to what we are planning for the Nags Head and provides a useful reference point for the style and impact of the project.
Personal Recommendation
"This pub is a crucial part of the town and we want to make sure it serves the community in the best way possible."
— Len Jackson, Investment Manager
Location:
Station Street, Nottingham, NG17 7AN
Selected pub
Other pubs
Nearby events
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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