Corner Pin (to be re-named the Chellaston Arms)
Agreement Type:
Just Add Talent
View details for Corner Pin (to be re-named the Chellaston Arms)
Three Crowns Barrow upon Soar
Three Crowns Barrow upon Soar
2, Cotes Road, Loughborough, LE12 8JS Pub Code: 2301849101
Pub Code: 2301849101
Investment TenancyEst Min Ingoing Costs: £45,759
Annual Rent: £37,037
The Three Crowns offers a great opportunity for someone who wants to take on a well-backed, newly refurbished pub with plenty of potential.
What would you do with this pub to make it even more of a success?
The Area:
Barrow upon Soar is a large village in northern Leicestershire, situated in the Soar Valley between Leicester and Loughborough. The Three Crowns is located on the east side of the River Soar and benefits from its proximity to the Midland Railway. The pub is in a high-footfall area with a mix of local residents and visitors, including diners, drinkers and sports fans.
The Offer:
The Three Crowns is available on our investment tenancy agreement. Click here for more information on this agreement.
We’re making a significant investment into this pub to return it to its roots as a designated pub, moving away from its current offer. With a full refurbishment and a clear premium vision, the site will meet current consumer preferences and the needs of a broad local demographic.
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 Three Crowns will have extensive experience in hospitality businesses. They will have a clear vision for their drinks range, food offer, and entertainment, 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
The Three Crowns 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
- Separate dining room
- 64 internal covers (33 dining, 31 drinking)
- 136 external covers
- Fully equipped kitchen
- HEINEKEN SmartDispense
- Garden: front terrace/patio
- Car park with large capacity
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 three bedrooms, bathroom, kitchen and living room.
Estimated Total Ingoing Costs
£45,759
Estimated Minimum Ingoing Costs
£45,759
Annual Rent
£37,037
Estimated Annual Turnover
£611,180
Deposit
£9,259
Estimated Fixtures & Fittings Value
£25,000
Estimated Stock Valuation
£8,000
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:
2, Cotes Road, Loughborough, LE12 8JS
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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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