St Annes Well Exeter

31 Well Street, Exeter EX4 6QL

  • St Annes Well Exeter
  • St Annes Well Exeter
  • St Annes Well Exeter
  • St Annes Well Exeter
  • St Annes Well Exeter
  • St Annes Well Exeter
  • St Annes Well Exeter
  • St Annes Well Exeter

St Annes Well Exeter

Untapped Potential

Due to receive a major investment of £180k investment and positioned a stone's throw from Exeter City FC, and St James Park train station, the St. Anne's Well pub is a wonderful, friendly pub. The site is in the surrounded by affluent residents, university students and professionals which provides the right operator with a fantastic opportunity to build a lucrative business.

Currently the pub offers a great range of locally sourced, home cooked food at reasonable prices and offers a wide range of ales, ciders, largers and wines. Given the pubs location and demographics, there is a superb opportunity to offer a more premium range of drinks and food. A great day time coffee and WiFi offer and a trendy, evening time cocktail offer would also appeal to the young residents surrounding the site who are looking for a comfortable and relaxing environment. Live, on-trend music events would also drive trade during the quieter evenings.

Energetic, Innovative Entrepreneur Wanted

Are you a customer orientated, passionate operator? Can you deliver a contemporary, premium offer? If so, we want to hear from you.

Pub Features

  • Rolling Tenancy
  • Refurbishment Planned
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

Earmarked for an internal renovation, the pub will see a contemporary refurbishment with new fixtures & fittings added. The pub has a friendly welcoming feel thanks to a use of warm colours and cosy, intimate booths. A catering kitchen allows an operator to produce a tasty, on-trend food offer. Following the refurbishment, the site will comfortably accommodate 66 covers for food.

Externally, the will undergo a complete overhaul with new, stylish signage and a new lighting scheme. The pub boasts original windows and a mock Tudor façade. There is a compact beer garden to the rear which would benefit from a cosmetic refresh to encourage drinkers during the warmer summer months.

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 & Bars, 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.

Premises Licence Details

Please refer to premises licence for full details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
11:00 - 00:30 11:00 - 00:30 11:00 - 00:30 11:00 - 00:30 11:00 - 02:00 11:00 - 02:00 12:00 - 00:30

Financials

Annual Rent £
TBC
Estimated Annual FMOP (Licensee Profit) £
TBC
Representative HEINEKEN UK Brand Discount Per Barrel £
TBC
Estimated Annual Turnover £
TBC
Estimated Annual Barrelage
TBC

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 £
55,000
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
5,000
Deposit Amount £
7,000
Rent In Advance £
TBC
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
TBC
Premises Licence Fee £
TBC
Rates Assessment Fee £
TBC
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
65,000
Estimated Minimum Ingoing Costs £
25,000

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) £
6,108

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