Kilderkin Edinburgh
67 Canongate, Edinburgh, EH8 8BSAgreement Type:
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Tavern Prestwick
Tavern Prestwick
3/5, The Cross, Prestwick, KA9 1AJ Pub Code: 0080098101
Pub Code: 0080098101
Investment TenancyEst Min Ingoing Costs: £42,768
Annual Rent: £37,870
We're investing £170,000 in a rebrand and a full upgrade to transform this pub into the top destination in Prestwick for a premium pub experience
What would you do with this pub to make it a success?
The area
Prestwick is a busy town on the Ayrshire coast, with an airport, train station, and easy links to Glasgow and nearby towns. It's a popular spot for people looking for a day or night out.
The pub benefits from being on the Prestwick drinking and dining circuit with many independent restaurants, pubs and cafes. It’s a five minute walk to the station and a ten minute walk to the beach.
The offer
The Tavern is available on our investment tenancy agreement. Click here for more information on this agreement.
The refurbishment will see this become a cosy, premium drinks led pub. With an 80 / 20 wet dry split, this will fill a much-needed gap in the local market.
We would expect to see the new operator introduce a premium draft range alongside lo and no alcohol options, premium spirits, cocktails and wine. A simple but premium food menu will broaden its appeal, rounding out the offer.
We’re always open to new ideas, what would you do to drive trade?
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 Tavern will have extensive experience in high street hospitality businesses. They will have a clear vision for their food & drinks menu, entertainment offer and marketing 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 pubs next chapter…
Trading Area & Facilities
The Tavern 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 pub’s trading area and facilities post refurbishment will be:
- Main trading area with bar
- A distinct lounge area that could be used for events
- Small catering kitchen
- Function room
- SmartDispense
- Large beer garden
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
No Private Accommodation.
Estimated Total Ingoing Costs
£42,768
Estimated Minimum Ingoing Costs
£42,768
Annual Rent
£37,870
Estimated Annual Turnover
£504,000
Deposit
£9,468
Estimated Fixtures & Fittings Value
£22,300
Estimated Stock Valuation
£7,500
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:
3/5, The Cross, Prestwick, KA9 1AJ
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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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