Top Lock Hotel Wheelton
Copthurst Lane, Wheelton, Chorley, PR6 8LTAgreement Type:
Investment Tenancy
View details for Top Lock Hotel Wheelton
Pleasant Retreat Lostock Hall
Pleasant Retreat Lostock Hall
2, Watkin Lane, Lostock Hall, Preston, PR5 5RD Pub Code: 0091377101
Pub Code: 0091377101
Foundation TenancyEst Min Ingoing Costs: £11,401
Annual Rent: £15,607
Refurbishment planned to create the best looking community pub in Lostock Hall.
The Area:
Located in the village of Lostock Hall near Preston, The Pleasant Retreat sits just a couple of miles from the city centre, surrounded by established housing and several new-build estates. This historic area has strong railway links and is home to St Catherine’s Hospice and the new Lancashire Cricket Centre of Excellence, enhancing local footfall. Situated close to the village centre shops and main road connecting Preston, Penwortham, and Leyland, this is a well-positioned site for a standout community pub.
Demographics:
There are 6,001 people within a 10-minute walk of the pub, including 4,823 adults. The area supports a mix of medium to high footfall from locals and visitors alike, with three competitor pubs nearby - two operated by Star Pubs and one by Trust Inns.
The Offer:
The Pleasant Retreat is available on our investment tenancy agreement. Click here for more information on this agreement.
This refurbishment will fully redecorate the trading areas, bar, and toilets internally, while external enhancements will include fresh signage, lighting, and decoration to elevate kerb appeal. Positioned as a traditional yet modern community pub, it will retain its welcoming village character while becoming one of the best-presented venues in the area. Though there is no current food offer, there is opportunity for a new operator to bring the redundant kitchen back into use if desired. The drinks range will span core to premium products, with Heineken brands and guest beers from across the UK. Entertainment will include Sky Sports, BT, and local events like bingo and quizzes.
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
Special Offer – unlike standard terms for Investment Tenancies, we are offering the option to rent the Fixtures & Fittings with three months’ deposit.
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 Pleasant Retreat 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 section.
The pubs trading area and facilities post refurbishment will be:
- Main trading area with bar
- Separate dining room
- Catering kitchen
- Function room
- HEINEKEN SmartDispense
- Pub 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, 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 comprises of three bedrooms, lounge, kitchen/dining area, bathroom, and a separate toilet.
Estimated Total Ingoing Costs
£32,151
Estimated Minimum Ingoing Costs
£11,401
Annual Rent
£15,607
Estimated Annual Turnover
£322,585
Deposit
£3,901
Estimated Fixtures & Fittings Value
£20,750
Estimated Stock Valuation
£4,000
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, Watkin Lane, Lostock Hall, Preston, PR5 5RD
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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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