William Morris Walthamstow
807/809 Forest Rd, Walthamstow, London, E17 4JDAgreement Type: Investment Tenancy
View details for William Morris WalthamstowUnder Offer
Pepper's Ghost (to be re-named the Prince of Wales)
777, High Road Leyton, London, E10 5AB
Pub Code: 2303327101
Key Features
- Investment Tenancy
- Refurbishment Planned
- Catering Kitchen
- Outdoor Trade
- Private Accommodation
Est Min Ingoing Costs: £59,040
Annual Rent: £39,679
More Information
The area
The Prince of Wales is based in Leyton, East London. The pub is very central with extensive transport links surrounding it. There are 16,000 adults living around the pub, with medium to high demographics. The pub has limited competition, with only one direct competitor, but the pubs all new look and feel make the Prince of Wales stand out.
The offer
The Prince of Wales is available on our investment tenancy agreement. Click here for more information on this agreement.
When refurbished, The Prince of Wales will offer:
A quality drinks range including premium & favourite beers, spirits, wines, no & low & soft drinks
A food menu offering pub classics
Televised sports and rhythm of the week entertainment
We’re always open to new ideas, what would you do to drive trade?
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 Prince of Wales will have extensive experience in community led hospitality businesses. They will have a clear vision for their food & drinks menu, sports offer 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 pubs next chapter…
Trading Area & Facilities
The Prince of Wales will be undergoing a refurbishment which will cover the interior and exterior of the pub.
A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads.
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
The private accommodation consists of two bedrooms, kitchen, bathroom & an office.
| Annual Rent | £ 39,679 |
| Estimated Annual Turnover | £ 504,714 |
| Deposit | £ 9,920 |
| Estimated Fixtures & Fittings Value | £ 36,620 |
| Estimated Stock Valuation | £ 9,000 |
| Estimated Working Capital | £ 3,500 |
| Estimated Total Ingoing Costs | £ 59,040 |
| Estimated Minimum Ingoing Costs | £ 59,040 |
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:
777, High Road Leyton, London, E10 5AB
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Freephone:
08085 94 95 96
Email us at
enquiries@starpubs.co.uk
Or visit
www.starpubs.co.uk
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