Crown Hotel Colne
94 Albert Road, Colne, BB8 0QDAgreement Type: Foundation Tenancy
View for Crown Hotel Colne detailsBurnley Road, Colne, BB8 8LF
Pub Code: 2302366101
Est Min Ingoing Costs: £40,770
Annual Rent: £29,081
The Pride of Pendle
The Spinning Mill is located on the main road between Colne and Nelson, near Burnley. It’s a densely populated area with almost 11,000 people living withing a 20-minute walk of the pub. In this area is limited competition and there is a gap in the market for a good food and drink offer. A refurbishment will turn the Spinning Mill into a premium community pub.
When refurbished, the Spinning Mill will appeal to a very broad spectrum of customers due to its multi-income stream offer. The new licensee can expect income streams from couples and groups of friends, diners and families during the week as well as pool and darts teams.
Serious Potential
Post refurbishment, the Spinning Mill will offer a range of drinks including some premium and value lagers, craft beer, ciders, ales, premium spirits and cocktails. A home-cooked, traditional pub classics food menu will nourish the hungry locals. Whilst casual guests can enjoy coffee, Wi-Fi, live sports and entertainment as part of the rhythm of the week.
The planned refurbishment to the Spinning Mill will allow a new operator to build a reputation as one of the best pubs in the area. The quality of the surroundings, a loyal local community, 77 covers and fantastic outdoor space will make this pub stand out well above the competition. All we are looking for is the right operator!
Inside, the pub will be redecorated which will include new lighting, new furniture and new bric-a-brac. We will also be refurbishing the ladies toilets and make repairs to the gents. This will give the pub a whole new look and feel and attract a variety of customers.
The garden and smoking area will be enhanced with new furniture and a full redecoration. We will also install new signage and lighting. These works will give the pub a much more premium feel and will enable the new licensee to offer a fantastic space throughout the year.
Please refer to the Refurbishment Details document in the Downloads section for further information on the planned investment.
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 at the pub consists of two bedrooms, an office, lounge, kitchen and bathroom.
Annual Rent | £ 29,081 |
Estimated Annual Turnover | £ 470,647 |
Deposit | £ 7,270 |
Estimated Fixtures & Fittings Value | £ 24,000 |
Estimated Stock Valuation | £ 6,000 |
Estimated Working Capital | £ 3,500 |
Estimated Total Ingoing Costs | £ 40,770 |
Estimated Minimum Ingoing Costs | £ 40,770 |
Burnley Road, Colne, BB8 8LF
Agreement Type: Foundation Tenancy
View for Crown Hotel Colne detailsAgreement Type: Foundation Tenancy
View for Anchor Inn Colne detailsAgreement Type: Foundation Tenancy
View for White Bull Gisburn details
Freephone:
08085 94 95 96
Email us at
enquiries@starpubs.co.uk
Or visit
www.starpubs.co.uk
Register now to receive regular email or text updates when new pubs to let come onto the market and get the latest news from Star Pubs & Bars. It’s free and puts you under no obligation.
RegisterTo download our no nonsense guide to running your own pub click below.
Download