Cork & Bottle Barnstaple
56 High Street, Barnstaple, EX31 1JBAgreement Type:
Investment Tenancy
View details for Cork & Bottle Barnstaple
St Annes Well
St Annes Well
31, Well Street, Exeter, EX4 6QL Pub Code: 2303383101
Pub Code: 2303383101
Investment TenancyEst Min Ingoing Costs: £19,710
Annual Rent: £18,839
An exciting opportunity is now available to transform this traditional building into the go-to place in the area. Multiple trading areas internally and externally makes this high street pub a fantastic opportunity for the right publican. Could this be you?
The area:
The St Anne’s Well in located in the heart of Exeter’s vibrant residential area and is perfectly positioned between student housing and local communities and just a short walk from the city centre.
The pub benefits from being in a busy area of around 11,400 adults. The majority customer base is made up of local residents who are looking for a welcoming pub as well as serving the student community during term time.
The offer:
St Anne’s Well is available on our investment tenancy agreement. Click here for more information on this agreement.
This is a wet-led site with the opportunity for the operator the introduce a small casual, high-street-style food offer suited to social dining and group occasions such as a pizza oven. Three trading zones with an upstairs lounge and plenty of covers outdoors makes this an exciting opportunity for an engaged operator wanting to take on a new challenge.
A packed events programme featuring live sports, themed nights, quiz nights, and student-friendly promotions could create a fun and engaging atmosphere through the week.
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 St Anne’s Well will have experience in running a high street hospitality businesses. They will have a clear vision for their marketing strategy, drinks menu and sports offer and can create a memorable experience for their customers. Also have the ability to cater for students during term time but sill ensuring activity-driven events for local community all year round.
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 St Anne’s Well 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 ‘refurbishment details’ in the downloads.
The pubs trading area and facilities post refurbishment will be:
- Trading area on two levels
- Lower level - Main area with bar and Sports Zone
- Upper level - Lounge area
- 60 internal covers
- 45 external covers
- HEINEKEN SmartDispense
- Outside trading area
- Small car park
- Pool and Darts
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 pub consists of three bedrooms, a lounge and kitchen. In line with our Ready to Trade promise, we will ensure your property is in good repair so you can focus your energy on your new business.
Estimated Total Ingoing Costs
£19,710
Estimated Minimum Ingoing Costs
£19,710
Annual Rent
£18,839
Estimated Annual Turnover
£279,487
Deposit
£4,710
Estimated Fixtures & Fittings Value
£6,500
Estimated Stock Valuation
£5,000
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:
31, Well Street, Exeter, EX4 6QL
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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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