Rainbow Inn Coven

Brewood Road, Wolverhampton WV9 5DH

  • Rainbow Inn Coven
  • Rainbow Inn Coven
  • Rainbow Inn Coven
  • Rainbow Inn Coven
  • Rainbow Inn Coven
  • Rainbow Inn Coven
  • Rainbow Inn Coven
  • Rainbow Inn Coven
  • Rainbow Inn Coven

Rainbow Inn Coven

Vibrant Village Local

In wonderful condition throughout following a refurbishment, the Rainbow Inn is ideally located on a residential street in Coven, Wolverhampton. Much loved by professionals and families who surround the site, this family friendly pub offers a superb atmosphere, a value led, tasty menu and a great drinks range.

The current proposition offers something for all the family. A range of delicious food options are available from the a la carte menu such as sharer platters, catch of the day and steaks, complimented by a wide range of draught beers, ciders and wines. A delightful range of real ales is also on offer and proves very popular. Finally, a well-established weekly events to entertain guests and drive trade such as darts, pub quiz, poker night, televised sports and karaoke.

Innovative Operator Wanted


Are you looking to expand your business portfolio? As the future vision for the site is to provide a delicious food menu, catering experience and knowledge is essential, along with the ability to demonstrate innovation and great business management.

Pub Features

  • Rolling Tenancy
  • Live Sports
  • Private Accommodation
  • Cask Ale
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

Internally, the pub is fantastic condition. Calming, contemporary colours and stripped wooden floors are used throughout to create a relaxing dining and drinking experience. Rustic timber and red brick partitions create private spaces for dining in the restaurant area. A separate bar and games area also ensure diners have a more intimate experience in this otherwise open plan trading area.

Externally, this attractive site boasts beautiful signage and a great lighting scheme. There is also a much sought after beer garden to the front of the site with picnic tables to attract guests during the summer months.

Private Accommodation

The private accommodation consists of a lounge, kitchen, bathroom and bedrooms. As part of our promise to you, we will ensure your private accommodation is in good order so that you can focus your energy on getting the business right.

Premises Licence Details

Please refer to Premises Licence for full details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
10:00 - 04:30 10:00 - 04:30 10:00 - 04:30 10:00 - 04:30 10:00 - 06:30 10:00 - 06:30 10:00 - 04:30

Financials

Annual Rent £
23,500
Estimated Annual FMOP (Licensee Profit) £
25,518
Representative HEINEKEN UK Brand Discount Per Barrel £
150
Estimated Annual Turnover £
335,655
Estimated Annual Barrelage
281

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 £
22,000
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
3,000
Deposit Amount £
5,875
Rent In Advance £
452
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 £
33,512
Estimated Minimum Ingoing Costs £
10,143

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 £
TBC
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
5,950

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