Olympic Hotel Draycott
Station Road, Derby, DE72 3QBAgreement Type:
Foundation Tenancy
View details for Olympic Hotel Draycott
New Zealand Arms Derby
New Zealand Arms Derby
2, Langley Street, Derby, DE22 3GL Pub Code: 0020321101
Pub Code: 0020321101
Investment TenancyEst Min Ingoing Costs: £13,655
Annual Rent: £16,620
Refurbishment Planned
Attractive New Deal - BDM support with 50% rent in year one, lower ingoing costs and high discount on draught beers. The New Zealand Arms has great potential to be the stand out pub in the area.
The area
The New Zealand Arms is located in the suburb of Derby, close to Derby City Centre and Markeaton Park. The pub is surrounded by mixed housing.
The pub benefits from being one of 7 pubs found in an area of around 6,399 adults. The diverse customer base is made up of individuals looking for an affordable lifestyle within easy commute to the city centre.
The offer
Available on our Investment Tenancy agreement. Click here for more information on this agreement. The potential of this pub lies in developing a value driven 10% dry and 90% wet, food & drinks offer. What food & drinks would you look to implement in the pub?
The site currently has the ability to drive trade via live entertainment, selection of pub games, such as pool, and darts and pub games machines. It offers a selection of popular beers, ciders, wines and spirits and cask ales.
We’re always open to new ideas, what would you do to drive trade?
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 pubs next chapter…
Special Offer – unlike standard terms for Investment Tenancies, we are offering the option to rent the Fixtures & Fittings on this pub in exchange for a six months’ deposit. We are also happy to discuss a deposit build up as part of the negotiations.
Trading Area & Facilities
The New Zealand Arms will be undergoing a refurbishment which will cover the interior and exterior of the pub.
The works will include:
- New signage scheme and redecoration
- Upgrade to lighting and re-decorations throughout trade area
- New and refurbished loose furniture
- New section of fixed seating
- New screens.
- New TV position
The pubs trading area and facilities post refurbishment will be:
- Main trading area with bar
- Lounge with dining area
- Sports area with TV screens
- 40 internal covers
- 16 external covers
- Medium sized catering kitchen
- Smart Dispense
- Small beer garden
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 2 bedrooms, a living room, kitchen and bathroom
Estimated Total Ingoing Costs
£33,725
Estimated Minimum Ingoing Costs
£13,655
Annual Rent
£16,620
Estimated Annual Turnover
£276,318
Deposit
£8,310
Estimated Fixtures & Fittings Value
£15,915
Estimated Stock Valuation
£6,000
Estimated Working Capital
£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:
2, Langley Street, Derby, DE22 3GL
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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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