Manor House Wortham
Bury Road, Wortham, IP22 1PXAgreement Type:
Investment Tenancy
View details for Manor House Wortham
Swan Downham Market
Swan Downham Market
29, High Street, Downham Market, PE38 9HF Pub Code: 2303046101
Pub Code: 2303046101
Investment TenancyEst. Annual Turnover: £407,537
Annual Rent: £27,500
Pub Overview
A £435,000 investment is planned to transform the Swan Hotel into a premium local pub and go-to destination in the heart of one of Norfolk’s oldest market towns. What would you do with this pub to make it a success?
About the area
Located in the centre of Downham Market, the Swan Hotel benefits from a prime position surrounded by shops, amenities and a strong local community. With 9,000 adults living within a 20-minute walk, the pub has a solid and accessible customer base right on its doorstep.
The town is growing rapidly, supported by new housing developments and excellent rail links to Cambridge and London, increasing both footfall and opportunity. Competition is limited, with just one nearby competitor alongside a Wetherspoons, creating a clear opportunity for the Swan Hotel to stand out as a premium local offer in a busy but underserved market.
Demographics
The area attracts a mix of local residents, commuters and visitors, offering the potential to build a strong all-day, all-week trade. The refurbished offer will appeal to a broad audience including After-Work Socialisers, sports fans and those looking for a welcoming venue for food, drinks and entertainment.
The offer
The Swan Hotel 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 Swan Hotel will have extensive experience in community led hospitality businesses. They will have a clear vision for their food and drinks menu, marketing strategy and entertainment offer 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
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 consists of three bedrooms, a living room, kitchen, bathroom and an office.
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
£47,900
Annual
Estimated Annual Turnover
£407,537
Annual Rent
£27,500
Entry Costs
Deposit
£6,875
Estimated Fixtures & Fittings Value
£31,525
Stock Valuation
£6,000
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:
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
Or visit
www.starpubs.co.uk
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