Queen Victoria Newcastle Upon Tyne

High Street, Newcastle Upon Tyne, Newcastle Upon Tyne NE3 1HD

  • Queen Victoria Newcastle Upon Tyne
  • Queen Victoria Newcastle Upon Tyne
  • Queen Victoria Newcastle Upon Tyne
  • Queen Victoria Newcastle Upon Tyne
  • Queen Victoria Newcastle Upon Tyne
  • Queen Victoria Newcastle Upon Tyne

Queen Victoria Newcastle Upon Tyne

Iconic High Street Pub - Investment Planned

Due to receive investment from Star Pubs & Bars the Queen Victoria is situated on the High Street in Gosforth, an affluent area around a mile north of Newcastle City Centre. The area has thriving trade and the Queen Victoria benefits from this. This impressive red brick traditional building has massive kerb appeal and is currently popular with circuit drinkers and TV sports fans.

Post-refurbishment, the Queen Victoria will be a stylish and unique pub, with a sophisticated finish where customers will love to meet for coffee, meals and drinks. Star Pubs and Bars envision the pub will have a fantastic menu offering a great selection of simple, yet delicious food, a great drinks selection including a broad selection of gins and premium cocktails, a secret beer garden, perfect for the warmer months and live music in a stylish venue.

Do you have the passion?

Ideal opportunity for an experienced operator to take an established pub and put your own twist on the food & drink offer, while embracing the local community and businesses. With investment planned to potentially include letting rooms and a function area, we need someone with vision to take this pub and make it even more successful.

Applicants should be aware the type of agreement for the Queen Victoria is open to discussion.

Pub Features

  • Rolling Tenancy
  • Refurbishment Planned
  • Long-Term FRI Lease
  • Private Accommodation
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

Following the refurbishment the Queen Victoria will transform into a premium, stripped-back venue with a 'London feel'. Extensive interior works, a brand new mezzanine bar area and a new secret beer garden will make the pub a fantastic venue to be enjoyed by the whole community day or night.

Externally, the pub is an impressive large, red brick traditional property on a corner plot on Gosforth High Street and it's presence ensures plenty of passing trade from the local shops and businesses. The pub will retain its name and the refurbishment aims to enhance the traditional pub exterior, whilst creating a contrast with the modern and sophisticated interior.

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 three bedrooms, kitchen & bathroom and a lounge and where required there will be appropriate works carried out in line with the Star Pubs & Bars ready To Trade Promise.

Premises Licence Details

Please refer to the Premises Licence for further details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
10:00 - 23:00 10:00 - 23:00 10:00 - 23:00 10:00 - 23:00 10:00 - 00:00 10:00 - 00:00 10:00 - 23:00

Financials

Annual Rent £
65,000
Estimated Annual FMOP (Licensee Profit) £
64,662
Representative HEINEKEN UK Brand Discount Per Barrel £
125
Estimated Annual Turnover £
716,508
Estimated Annual Barrelage
330

The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details).

Historical volume figures may not include purchases made through 3rd Parties.

** All figures quoted are exclusive of VAT

*** FMOP = Fair Maintainable Operating Profit

Investment

Ingoing Costs
Estimated Licensee Fixtures & Fittings Value £
44,250
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
5,000
Deposit Amount £
16,250
Rent In Advance £
1,250
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
50
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
68,935
Estimated Minimum Ingoing Costs £
18,019

In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.

The Estimated Licensee Fixtures & Fittings (F&F) Value assumes that the pub will be let on a Rolling Tenancy or Business Start-Up Agreement, where we own the majority of the F&F. The F&F Value for Full Repairing & Insuring Leases will be significantly more.

The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent or £3,000 (whichever is greater) and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs are not included in the rent model or ongoing costs below.

Other SP&B Ongoing Charges
Estimated Annual Buildings Insurance £
TBC
Estimated Annual Maintenance Compliance Charge £
1,463
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
6,108

The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details)

* All figures quoted are exclusive of VAT

** Deposit build up will be payable over a maximum of 24 months

*** Fixtures and Fittings annual rental fee should be estimated at 15% of the F&F value. The actual F&F value will be determined on the day of entry

**** Maintenance Compliance Charge relates to the fees for various statutory inspections

***** Estimated Legal Fees is a charge applied to your account by SP&B for creation of your Lease. You are required to engage and pay for your own solicitor - your solicitor's fees are not included in the above estimate

****** The above figures assume that rent is billed weekly in advance and that Star Pubs & Bars retain ownership of large fixtures and fittings. Initial costs for a Fully Repairing and Insuring lease will be higher as rent is invoiced monthly in advance and all fixtures and fittings must be purchased