Corner Pin (to be re-named the Chellaston Arms)
Agreement Type:
Just Add Talent
View details for Corner Pin (to be re-named the Chellaston Arms)
Swan Downham Market
Swan Downham Market
29, High Street, Downham Market, PE38 9HF Pub Code: 2303046101
Pub Code: 2303046101
Investment TenancyEst Min Ingoing Costs: £47,900
Annual Rent: £27,500
A major refurbishment to a the Swan Hotel within the one of Norfolk’s oldest market towns will make it a go to destination.
What would you do with this pub to makeit a success?
The area
This is a unique opportunity to run a pub in the heart of Downham Market, a bustling town with a strong community spirit. The pub is in a prime location, surrounded by shops and amenities, with 9,000 adults living within a 20-minute walk. This area is growing rapidly, with new housing developments and excellent rail links to Cambridge and London. The pub faces minimal competition, with only one competitor nearby and a Wetherspoons in town.
The offer
The Swan Hotel is available on our investment tenancy agreement. Click here for more information on this agreement.
The pub is undergoing a complete refurbishment, inside and out, transforming it into a premium local spot. It will offer a wide range of drinks, including non-alcoholic options, and serve classic pub food. The pub will have a vibrant atmosphere with regular live entertainment and a dedicated sports area. With seating for 30 inside and 36 outside, it’s perfect for an operator with or without food experience.
The right operator for The Swan Hotel will have extensive experience in community led hospitality business. They will have a clear vision for their food & drinks menu, marketing strategy and entertainment offer and can create a memorable experience for their customers.
When refurbished, The Swan Hotel will offer:
Drinks:
Full Heineken range of beers and ciders, including 0.0 options to satisfy every palate.
Food:
The pub can offer a great range of crowd-pleasing pub classics.
Coffee:
A bean-to-cup offering, offering a satisfying brew every time.
Events:
A strong rhythm of the week, with live entertainment and a live sports package – shown in a dedicated area within the pub – will attract a range of patrons from the surrounding area and afar.
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
Trading areas and
The Swan Hotel 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:
- Main trading area with bar
- 30 internal covers
- 36 external covers
- Catering kitchen
- SmartDispense
- Patioed and covered outdoor seating.
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:
Private accommodation consists of 3 bedrooms, a living room, kitchen, bathroom and an office
Estimated Total Ingoing Costs
£47,900
Estimated Minimum Ingoing Costs
£47,900
Annual Rent
£27,500
Estimated Annual Turnover
£407,537
Deposit
£6,875
Estimated Fixtures & Fittings Value
£31,525
Estimated Stock Valuation
£6,000
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:
29, High Street, Downham Market, PE38 9HF
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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
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www.starpubs.co.uk
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