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Needless Inn Morley

The Needless Inn, Leeds, LS27 0NZ

Pub Code: 2300447101

Key Features

  • £209,000 Investment Planned
  • Premium Country Pub
  • 100 Internal Covers
  • Large Car Park

Est Min Ingoing Costs: £59,618

Annual Rent: £48,316

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More Information

Investment Planned at Popular Country Pub

The Needless Inn is a beautiful country pub located in Morley, Leeds. The pub has established trade and is known locally as a place to go for quality food. We are now planning an investment of over £209,000 to help this promising business meet it's full potential.

The pub would suit a quality food menu that prides itself on being fresh and locally sourced. All the pub classics should feature, however these should be executed to a premium standard.

The Needless boasts a large car park, three distinct trading areas and plenty of outdoor space.

In tandem with the refurbishment, we are proposing a name change to 'The Cardigan Arms'.

Experienced Food Operator Wanted

The right operator for 'The Cardigan Arms' will have a passion for food. They must have prior experience running a similar venue. Ideally, they will be well-connected in the area.


  • Catering Kitchen

  • Investment Tenancy

  • Car Park

  • Cask Ale

  • Outdoor Trade

  • Private Accommodation

  • Refurbishment Planned

Trading Area & Facilities

Inside, the pub is split into three trading areas - the bar, dining room and snug. The existing wooden flooring in the pub will be stripped and restained throughout. We will also add new carpeting and Karndean flooring to key areas.

The existing fixed seating will be upcycled and we will add new loose furniture. The bar will receive new shelving and an overhead glass gantry. All trading areas will be redecorated with new wall art, lighting and bric a brac. The WCs will also be fully refurbished.

Post refurbishment, the interior of the pub will be able to accommodate circa 100 covers.

Outside, the pub will be rebranded under the name 'The Cardigan Arms'. We will install new signage and lighting to the exterior. The existing decking area will be restained and we will add a new cover to this space for use in all weather.

 

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 two bedrooms, living room, kitchen and bathroom.

Premises Licence Details

See premises licence for full details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
10:00 -
23:00
10:00 -
23:00
10:00 -
23:00
10:00 -
23:00
10:00 -
01:00
10:00 -
01:00
12:00 -
23:00

Annual Rent £
48,316
Estimated Tenants Annual Operating Profit £
48,315
Representative HEINEKEN UK Brand Discount Per Barrel £
125
Estimated Annual Turnover £
614,932
Estimated Annual Barrelage
228
* 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

Ingoing Costs
Estimated Licensee Fixtures and Fittings Value £
40,000
Estimated Fixtures and Fittings Valuation Fee £
250
Estimated Stock Valuation £
5,000
Deposit Amount £
12,079
Rent in Advance £
929
Training Fee £
425
Estimated Designated Premises Supervisor / Manager Fee £
50
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
59,618
Estimated Minimum Ingoing Costs £
59,618
In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
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 are not included in the rent model or ongoing costs below.
Note that on FRI 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.
Other SP&B Ongoing Charges
Estimated Annual Building Insurance £
2,082
Estimated Annual Maintenance Compliance Charge £
1,862
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
6108
Estimated Annual Repairs Fund £
1300
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
** 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

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