Pleasant Retreat Lostock Hall
2 Watkin Lane, Lostock Hall, Preston, PR5 5RDAgreement Type:
Investment Tenancy
View details for Pleasant Retreat Lostock Hall
Railway Leyland
Railway Leyland
1, Preston Road, Leyland, PR25 4NT Pub Code: 2303340101
Pub Code: 2303340101
Investment TenancyEst. Annual Turnover: £1,246,327
Annual Rent: £77,069
A refurbishment in the region of £551,000 is planned for the Railway, transforming it into a premium local pub with a strong food, drink, sports and entertainment offer.
What would you do with this pub to make it a success?
About the area
The Railway sits on the edge of Leyland town centre, next to the mainline railway station. Around 5,028 adults live within walking distance of the pub, creating a strong local catchment alongside the potential to attract passing customers. There are three other pubs locally, giving the area an established pub scene while the Railway's location and extensive facilities provide a clear opportunity to stand out.
The pub currently attracts a predominantly drinks-focused customer base. Following the refurbishment, it will be repositioned as a premium local with broader appeal, attracting families and casual diners during the day and early evening, alongside higher-tempo occasions at weekends and function trade. A quality home-cooked food offer, premium sports viewing, occasional live entertainment and a significantly upgraded garden will give customers more reasons to visit throughout the week.
The offer
The Railway is available on our investment tenancy agreement. Click here for more information on this agreement. Please refer to the 'Refurbishment Details' section for details of the investment being made.
Who we're looking for
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 Railway will have extensive experience in high-volume, food-led hospitality businesses. They will have a clear vision for the pub's home-cooked food and drink menu, entertainment programme 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 pub's next chapter...
Trading Area & Facilities
The refurbishment will cover both the interior and exterior of the pub, including the trading areas, garden, external decoration and signage.
A full list of works and pub floor plan can be found in the Downloads section.
The pub's trading area and facilities post refurbishment will be:
- Main trading area with bar
- Snug area
- Separate games and sports zone with darts
- 161 internal covers, including more than 100 dining covers
- 172 external covers
- Catering kitchen
- Function room
- HEINEKEN SmartDispense system
- Refurbished private accommodation with two bedrooms, lounge and bathroom
- Revamped pub garden
- 72-space car park
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
Private accommodation at the Railway consists of 2 bedrooms, living room, bathroom, and kitchen.
With our 5 Star Promise, the rent at the start of your agreement is fixed until the end of its initial term.
Indicative entry costs
£105,380
Annual
Estimated Annual Turnover
£1,246,327
Annual Rent
£77,069
Entry Costs
Deposit
£19,267
Estimated Fixtures & Fittings Value
£77,613
Stock Valuation
£10,000
Working Capital Required
£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.
What we're planning & why
The planned investment of around £551,000 will deliver a full internal and external transformation of the Railway, including refreshed trading spaces, new dining areas, upgraded signage and a major revamp of the pub garden.
What's happening?
Complete external decoration and new signage will give the Railway a stronger roadside presence, improve visibility and clearly communicate its new positioning as a premium local pub.
Inside, decoration throughout will create a more premium setting for drinking, dining and community occasions. New dining space will support a strong home-cooked food proposition, while premium sports viewing, a dedicated sports area with darts, occasional live entertainment and the function room will help the pub serve a wider range of occasions across the week.
The outside area will be extensively upgraded to create a standout garden with 172 external covers. Together with the pub's 161 internal covers and large car park, this will give the operator the capacity to grow dining, functions, sports-led visits and seasonal trade.
Why invest?
This investment will make better use of the Railway's extensive trading areas and modernise the customer experience throughout the pub. The combination of food, drink, sport, entertainment, functions and a destination garden is expected to broaden its appeal and increase visit frequency across the week.
As a result of the transformation, turnover is anticipated to increase by around 300%.
To explore some of our recent successful pub investment projects, please see our Investment Showcase page.
Personal Recommendation
"Following the investment, the Railway will offer brilliant amenities, with more than 100 dining covers, a large car park, premium sports viewing, a dedicated darts area and a garden that provides a real point of difference."
— Paul Alldis, Investment Manager
Location:
1, Preston Road, Leyland, PR25 4NT
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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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