Manor House Wortham
Bury Road, Wortham, IP22 1PXAgreement Type:
Investment Tenancy
View details for Manor House Wortham
The Gainsborough Sudbury
The Gainsborough Sudbury
King Street, Sudbury, CO10 2EB Pub Code: 2302113101
Pub Code: 2302113101
Investment TenancyEst. Annual Turnover: £446,474
Annual Rent: £34,747
An investment of around £348,000 is planned to relaunch the Grade II listed pub as the Royal Oak, creating a premium local centred on quality food, drink and all-week trading.
What would you do with this pub to make it a success?
About the area
The Royal Oak is positioned on the main road into Sudbury town centre, with strong visibility to passing traffic and convenient access to large public car parks. The market town location places the pub within a busy hospitality scene, with eight competitors and around 11,099 adults living within a 20-minute walk.
The refurbishment will relaunch the venue after a period of closure and restore its original Royal Oak name. A broader customer base will be attracted through a more premium experience, with particular appeal to families, casual diners and customers seeking a quality daytime and evening offer that stands apart from price-led competition.
The offer
Royal Oak, Sudbury 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 Royal Oak will have extensive experience in premium local and food-led hospitality businesses. They will have a clear vision for a quality food and drinks menu, daytime trade, selected mid-week sport and a marketing strategy that successfully relaunches the pub and creates 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 refurbishment of the Royal Oak will cover both the interior and exterior of the pub.
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
- Snug area
- 70 internal covers
- 72 external covers
- Catering kitchen
- HEINEKEN SmartDispense system
- Pub garden
- Car park with four spaces
- Private accommodation with two bedrooms
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 two bedrooms, kitchen, bathroom, office and living room.
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
£48,037
Annual
Estimated Annual Turnover
£446,474
Annual Rent
£34,747
Entry Costs
Deposit
£8,687
Estimated Fixtures & Fittings Value
£29,850
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.
What we're planning & why
Refurbishment details
This major internal and external refurbishment, supported by an investment of around £348,000, will completely relaunch the venue under its original Royal Oak name.
The project will transform the exterior, refit the commercial kitchen, refresh and rezone the internal trading areas, enhance the garden and provide upgraded private accommodation.
What's happening?
A full external refurbishment will introduce new signage, redecoration and the Royal Oak name, creating a strong first impression and signalling a completely renewed offer to the town.
The commercial kitchen will be fully refitted to support a high-quality food offer capable of driving daytime trade and creating reasons to visit throughout the week. The internal trading space will be redecorated and rezoned to provide an attractive, comfortable setting for drinks, dining and social occasions.
The garden will also be refreshed, extending the customer experience outside and providing additional seasonal trading capacity. The offer will be supported by selected mid-week sports viewing without losing the pub's premium, food-led focus.
Why invest?
The refurbishment will create a clear point of difference in Sudbury by combining the character of a historic building with a premium food and drink offer. The improved kitchen, renewed identity and flexible trading spaces are anticipated to grow annual turnover to around £447,200.
To explore some of our recent successful pub investment projects, please see our Investment Showcase page.
Location:
King Street, Sudbury, CO10 2EB
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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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