The Old Crown Inn sits on London Road close to many local shops, restaurants and bars. This up-and-coming neighbourhood is mainly frequented by young professionals and students. The pub is known for its live music events, yet the full potential with this venue still remains untapped. We are now planning a significant investment to upgrade The Old Crown so it can appeal to a more premium market.
Our £190,000 investment will cover all trading areas including the garden. We will create a stylish pub that is both on-trend and welcoming. Highlights include tiled flooring, cast iron furniture and a unique beer garden that 'brings the outside in'.
The new operator of The Old Crown should offer a simple 'bar snacks' type menu to compliment their range of cask ales and craft beer. They should remain on top of future drinks trends.
Innovative Operator Wanted
Are you an experienced operator who has previously ran venues in Sheffield? You will have a clear direction in which you wish to take this business and you will understand the local market. A background in brewing would be preferred for this pub.
Trading Area & Facilities
Inside, the pub is split into three trading areas - the lounge, bar and taproom. Our investment will improve all of these areas.
In the lounge, we will add new free and fixed seating along with eye catching statement wallpaper.
In the bar, we will add new herringbone flooring. The bar itself will be sanded and restained to give it a distressed feel. The back bar will be tiled and new shelves will be added. The bar's snug area will also receive new decoration and furniture.
The tap room will receive a new tiled floor and the existing fixed seating will be reupholstered. The fireplace will be recovered, creating a cosy atmosphere.
The outside space at The Old Crown will be one of its most exciting selling points. Our plans will remove part of the pub's back wall and add in bi-fold doors. These doors will allow us to 'bring the outside in', creating a space which is partly covered. We will adorn this space with festoon lighting and foliage, creating a comfortable and trendy place to spend time with friends. On top of this, the existing decked area will be restained with new furniture added.
The exterior of the pub will be freshly painted, with new signage and lighting added.
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 consists of three bedrooms, living room, kitchen and bathroom.
Estimated Annual Turnover
Estimated Fixtures & Fittings Value
Estimated Stock Valuation
Estimated Working Capital
Estimated Total Ingoing Costs
Estimated Minimum Ingoing Costs
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.