Green Dragon St Albans
Waterside, St Albans, AL2 1RBAgreement Type:
Foundation Tenancy
View details for Green Dragon St Albans
Sun Lemsford
Sun Lemsford
Lemsford Way, Lemsford, Welwyn Garden City, AL8 7TN Pub Code: 0090154101
Pub Code: 0090154101
Investment TenancyEst. Annual Turnover: £679,397
Annual Rent: £54,768
Pub Overview
A £155,000 investment is planned to transform the Sun into a premium local pub with a strong food offer and an inviting garden space at its heart. What would you do with this pub to make it a success?
About the area
Located in the attractive Hertfordshire village of Lemsford, the Sun benefits from a standout position as the only pub within a 20-minute walk, serving a catchment of around 4,578 adults. This exclusivity provides a strong foundation to become the go-to local for the community.
The area is highly affluent, with families, couples and older residents forming the core customer base. Positioned close to Welwyn town centre, Brocket Hall, and just a short drive from Welwyn Garden City, the pub is well placed to attract both loyal locals and visitors, offering a blend of everyday trade and destination appeal.
Demographics
The affluent local demographic presents a strong opportunity for a premium local offer. The refurbished pub will appeal to families, couples and After-Work Socialisers looking for a high-quality, welcoming environment with great food, drinks and social occasions throughout the week.
The offer
The Sun 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
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 Sun will have extensive experience in hospitality businesses. They will have a clear vision for delivering a quality all-day food and drinks offer, alongside a strong marketing and events strategy, and can create a memorable experience for their 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 Sun will be undergoing a refurbishment which will cover external areas with new signage, redecoration and minor external works, alongside some kitchen upgrades.
A full list of works and pub floor plan can be found in the downloads section.
The pub’s trading area and facilities post refurbishment will be:
- Main trading area with bar
- 34 internal dining covers
- 84 external covers
- Catering kitchen with upgrades
- HEINEKEN SmartDispense®
- Garden and car park
- 3-bedroom private accommodation
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
£54,145
Annual
Estimated Annual Turnover
£679,397
Annual Rent
£54,768
Entry Costs
Deposit
£13,692
Estimated Fixtures & Fittings Value
£28,953
Stock Valuation
£8,000
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:
Lemsford Way, Lemsford, Welwyn Garden City, AL8 7TN
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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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