Garratt Tavern Wandsworth
89 Garratt Lane, London, SW18 4DWAgreement Type:
Just Add Talent
View details for Garratt Tavern Wandsworth
Royal Oak (previously Tito's Peruvian Restaurant London)
Royal Oak (previously Tito's Peruvian Restaurant London)
273a, Clapham Road, London, SW9 9BQ Pub Code: 2302580101
Pub Code: 2302580101
Investment TenancyEst Min Ingoing Costs: £151,750
Annual Rent: £53,000
The Royal Oak offers a great opportunity for someone who wants to take on a well-backed, newly refurbished pub with plenty of potential.
What would you do with this pub to make it even more of a success?
The Area:
The pub benefits from being one of five pubs found in an area of around 18,000 adults. The local customer base is made up of young, midlife and mature adults.
Located in the heart of Stockwell, Central London, this Zone 2 site is moments from Stockwell Tube station and close to Brixton Brewery, with limited direct pub competition in the immediate area.
The Offer:
The pub is available on our investment tenancy agreement. Click here for more information on this agreement.
We’re investing in a full refurbishment to create a beautifully designed, premium London pub. With a great atmosphere, quality food and drink, and standout outdoor space, this site is ready to become the go-to destination for locals and commuters alike.
We’re always open to new ideas, what would you do to drive trade?
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 Royal Oak will have extensive experience running or operating a pub business. They will have an understanding of London's fast-paced market and a passion for connecting with a younger audience. Also, they'll be experienced in executing a quality food offer as well as managing an exciting calendar of events.
If this sounds like the incredible pub opportunity you’ve been waiting for, apply today and tell us what you can bring to this pubs next chapter…
Trading Area & Facilities
The pub will be undergoing a refurbishment which will cover the internal and external areas of the pub.
A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads section
The pub's trading area and facilities post refurbishment will be:
- Main trading area with bar
- Separate dining room
- 72 internal covers
- 198 external covers
- Commercial kitchen
- HEINEKEN SmartDispense
- Large garden with festoon lighting and planting
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 consists of 4 bedrooms, a kitchen and a bathroom.
Estimated Total Ingoing Costs
£151,750
Estimated Minimum Ingoing Costs
£151,750
Annual Rent
£53,000
Estimated Annual Turnover
£794,990
Deposit
£13,250
Estimated Fixtures & Fittings Value
£120,000
Estimated Stock Valuation
£15,000
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:
273a, Clapham Road, London, SW9 9BQ
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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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