East Elstree (to be re-named the The Plough)
High Street, Borehamwood, WD6 3EUAgreement Type: Long-Term FRI Lease
View details for East Elstree (to be re-named the The Plough)
Thekaa Watford
151, The Parade, Watford, WD17 1NA
Pub Code: 2302386101
Key Features
- High Street Bar
- Premium Interior
- Late Night Venue
- Courtyard Garden
- Large Open Fire
Est Min Ingoing Costs: £14,678
Annual Rent: £38,146
More Information
Bar Bodega is situated on Watford's busy high street parade. Surrounded by a number of well-known high street bars and nightclubs, Bodega puts itself above the rest by being the premium, independent venue. Local demographics are a broad range due to the attraction of the high street shops, restaurants, bars and entertainment venues.
Being on the high street there are a number of reasons for people to go to Bodega but the large shopping centre is at the other end of the High Street and Watford Football Ground is less than a mile away. The paved area outside the venue has 2 large events a year which is a great footfall driver.
Currently operating as a late evening cocktail and wine venue that shows music/movies at weekends. Small food offer of Pizzas and smaller plates. No machines or sports due to the venue type.
The Bodega needs to be a chameleon style venue that offers coffees and pastries in morning for commuters and workers/hot desks. Need to have a unique high quality food offer to compete with the likes of The Florist and chain bar/restaurants. Lunch time bottomless brunches at weekends with great events, movie nights, comedy nights. Needs to have a real Unique Selling Point.
Trading Area & Facilities
The Bodgea has a great open drinking and dining space with a secret covered courtyard. A large/oversized open fire with multiple years worth of melted candle wax covering to bring a rustic and classic feel.
Private Accommodation
None
| Annual Rent | £ 38,146 |
| Estimated Annual Turnover | £ 585,212 |
| Deposit | £ 9,536 |
| Estimated Fixtures & Fittings Value | £ 19,565 |
| Estimated Stock Valuation | £ 8,000 |
| Estimated Working Capital | £ 3,500 |
| Estimated Total Ingoing Costs | £ 40,601 |
| Estimated Minimum Ingoing Costs | £ 14,678 |
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:
151, The Parade, Watford, WD17 1NA
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Freephone:
08085 94 95 96
Email us at
enquiries@starpubs.co.uk
Or visit
www.starpubs.co.uk
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