Compasses Chelmsford
141 Broomfield Road, Chelmsford, CM1 1RYAgreement Type:
Foundation Tenancy
View details for Compasses Chelmsford
Spread Eagle Southend On Sea
Spread Eagle Southend On Sea
267, Victoria Avenue, Southend On Sea, SS2 6NE Pub Code: 2302581101
Pub Code: 2302581101
Investment TenancyEst. Annual Turnover: £379,117
Annual Rent: £23,902
Pub Overview
A £215,000 investment is planned to transform the Spread Eagle into a high-quality, community wet-led pub with a refreshed look and enhanced outdoor space. What would you do with this pub to make it a success?
About the area
Located just outside the town centre and next door to Southend Football Club, the Spread Eagle is well positioned to benefit from both local trade and event-driven footfall. This gives the pub a strong opportunity to build a consistent community base while also capitalising on matchday activity.
With around 7,560 adults in the surrounding area and only 7 pubs nearby, the Spread Eagle sits within a competitive but balanced local market. The current customer base is made up of a broad range of customers, and the refurbishment will reposition the pub as a more attractive, high-quality option, strengthening its appeal as a go-to local.
Demographics
The area is characterised by a mix of customers of mainly medium affluence, providing a solid foundation for a community-focused pub. The enhanced offer will appeal to local residents looking for a welcoming, social environment, while also attracting sports fans and After-Work Socialisers.
The offer
The Spread Eagle 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
Attitude is more valuable than experience. If you’ve got the following, we’d love to hear from you.
- Understanding of the local community
- You know what it takes to build a successful business
- You love hospitality and are great with 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 Spread Eagle will be undergoing a refurbishment which will cover the interior and exterior of the pub.
A full list of works and pub floor plan can be found in the downloads section.
The pubs trading area and facilities post refurbishment will be:
- Main trading area with bar
- 68 internal covers
- 58 external covers
- Function room
- SmartDispense
- Extensive courtyard garden
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 consists of three bedrooms.
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
£30,476
Annual
Estimated Annual Turnover
£379,117
Annual Rent
£23,902
Entry Costs
Deposit
£5,976
Estimated Fixtures & Fittings Value
£16,000
Stock Valuation
£5,000
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.
Location:
267, Victoria Avenue, Southend On Sea, SS2 6NE
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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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