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
Investment TenancyEst Min Ingoing Costs: £12,548
Annual Rent: £20,192
Coming Soon with exciting investment! We are currently working up the full scheme and financials for this site, so all quoted figures are indicative only. We are accepting applications in the meantime so apply today.
Fantastic Potential
Post refurbishment The Pleasant retreat will be re-named The Tap & Barrel. The pub is perfectly situated in the centre of Lostock Hall, its attractive facade is unmissable as you pass through the centre of town. The pub is found close to the train station, recreational grounds and local shops, meaning there is a steady flow of customers always looking for a quality drink in a stylish upbeat environment.
Transformational works will revitalise The Pleasant Retreat, creating a quirky and stylish pub with an unrivalled drink offering in the area. The pub will be renamed the Tap & Barrel to signal the change in offer to re-position the pub. A tasteful redecoration, with quirky framed artwork, premium leather chairs and copper pendant lighting, will create a standout destination pub in a local setting. The Pleasant Retreat’s upgraded open-plan trading space, with a new central bar and brand-new beer terrace with a feature mural and beer barrel tables, will help establish the pub as a social hub.
The transformational refurbishment, as well as a vibrant beer terrace, will create a stand-out pub capable of trading at all points of the day. Internally, a bright and friendly atmosphere and upgraded food offer to compliment the superlative drinks selection will attract a diverse range of customers, all looking for a great local pub.
Please refer to the attached Premises License for more details.
Experienced, Friendly Operator Wanted!
This is an ideal opportunity for an experienced operator with a proven track record in running successful outlets of this type. They should have sufficient knowledge of developing a good food offering to support 55 covers which will form a significant part of the offer.
Special Offer – unlike standard terms for Investment Tenancies, we are offering the option to rent the Fixtures & Fittings with three months’ deposit.
Trading Area & Facilities
A new entrance lobby will be formed to create an attractive welcome area for customers, indicative of what they can expect from the rest of the pub. New entrance matting will be laid and a dwarf wall with a glazed screen above will be formed. The bar area will be refurbished and redecorated in line with the classic yet quirky feel of the pub. It will become the perfect space for the whole community to enjoy a casual drink. The raised area will be refurbished to support the new and improved food and drink offering, matching the overall look and feel of the pub. The existing doorway will be blocked up, with a new entrance formed to create a more direct entranceway for customers. The existing kitchen will be refurbished and redecorated throughout, with new appliances and equipment.
A small but unique beer terrace will be formed at the rear of the pub. It will be a welcoming and vibrant area for customers to enjoy a drink during the warmer months. The external area and signage will be refurbished to enhance the pub’s kerb appeal and highlight the new and improved offer to passing customers.
No parking on-site, but there is a public car park 200 metres away which is exceptionally cheap and free after 18.30 and on Sundays and Public Holidays.
Please 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. This 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. This applies to all pubs in England & Wales as per The Pub Code (2016).
A small but unique beer terrace will be formed at the rear of the pub. It will be a welcoming and vibrant area for customers to enjoy a drink during the warmer months. The external area and signage will be refurbished to enhance the pub’s kerb appeal and highlight the new and improved offer to passing customers.
No parking on-site, but there is a public car park 200 metres away which is exceptionally cheap and free after 18.30 and on Sundays and Public Holidays.
Please 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. This 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. This applies to all pubs in England & Wales as per The Pub Code (2016).
Private Accommodation
The private accommodation comprises a lounge, kitchen/dining area, bathroom, three bedrooms and a separate toilet.
Estimated Total Ingoing Costs
£33,298
Estimated Minimum Ingoing Costs
£12,548
Annual Rent
£20,192
Estimated Annual Turnover
£324,129
Deposit
£5,048
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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