Salutation Keyworth
Main Street, Nottingham, NG12 5ADAgreement Type:
Foundation Tenancy
View details for Salutation Keyworth
Three Horse Shoes East Leake
Three Horse Shoes East Leake
Brookside, East Leake, Loughborough, LE12 6PB Pub Code: 0050149101
Pub Code: 0050149101
Investment TenancyEst. Annual Turnover: £670,113
Annual Rent: £48,422
A refurbishment in the region of £374,000 is planned to transform the Three Horse Shoes into a premium local pub with quality food, drink and community occasions at its heart. What would you do with this pub to make it a success?
The area
The Three Horse Shoes is located in East Leake, a large Nottinghamshire village in the Rushcliffe district, close to the Leicestershire border and the market town of Loughborough. The village combines a semi-rural setting with a strong local identity, historic landmarks and long-standing links to British Gypsum, creating a well-established community catchment.
Around 3,250 adults live within a 10-minute walk of the pub, increasing to 6,383 within 20 minutes. The village has a handful of established pubs, including smaller wet-led venues and a heavily invested premium competitor, creating an active local hospitality market. Following a prolonged period of closure, the Three Horse Shoes has an opportunity to rebuild its place in the community. The refurbishment will reposition it with a broader, more versatile offer that appeals to families, casual diners, younger professionals, after-work customers and people making destination visits.
The offer
Three Horse Shoes 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 Three Horse Shoes will have extensive experience in premium, food-led community hospitality businesses. They will have a clear vision for the food and drink menu, daytime coffee trade, entertainment programme and local marketing strategy, balancing quality dining with live music, quizzes, karaoke and selected live sport, 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 refurbishment of the Three Horse Shoes 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
- Separate dining room
- Snug area
- Separate games and sports zone
- 99 internal covers
- Catering kitchen
- Function room
- HEINEKEN SmartDispense
- Pub garden
- Children’s play area
- 188 external covers
- Car park with 15+ spaces
- Refurbished private accommodation with three 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 3 bedrooms, a living room, kitchen, and bathroom.
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
£53,456
Annual
Estimated Annual Turnover
£670,113
Annual Rent
£48,422
Entry Costs
Deposit
£12,106
Estimated Fixtures & Fittings Value
£31,850
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
The Three Horse Shoes will benefit from an estimated £373,757 full internal and external transformation. The investment will refresh and reconfigure the trading spaces, introduce a new kitchen and dining offer, improve the pub’s frontage and signage, revamp the garden and refurbish the three-bedroom private accommodation. The result will be a comfortable, cosy and more premium local pub designed for a wide range of customer occasions.
What's happening?
Externally, the pub will receive full decoration, new signage and improved lighting to strengthen kerb appeal and clearly signal the change in offer. The garden will also be revamped to make better use of its substantial outdoor capacity, improve seasonal trading and create a more attractive space for families and social occasions.
Inside, a full investment will refresh the décor, open up the trading area and create distinctive zones for drinking, dining and relaxing. A new catering kitchen and dedicated dining space will support a premium food offer, while the snug, function room and games or sports zone will allow different groups to use the pub at the same time. Investment in the sports lounge will support selected live sport and social activities such as darts, although food will remain the lead focus rather than positioning the pub as a dedicated sports venue.
The finished offer will combine premium food, premium lagers and ciders, a wider premium drinks range and coffee to support daytime trade. Live music, quizzes, karaoke and other community entertainment can provide a regular rhythm through the week. The incoming operator will need to bring these elements together with strong service, effective local marketing and a clear programme of occasions that encourages customers to visit more often and stay longer.
Why invest?
This investment creates the opportunity to rebuild the Three Horse Shoes’ local reputation, unlock underused areas and bring the pub in line with modern customer expectations. Improved kerb appeal, a stronger food offer, clearer trading zones and a revitalised garden will broaden the customer base and increase the number of reasons to visit throughout the day and week. The refurbishment is forecast to support weekly turnover of £12,890 as the pub rebuilds trade following its period of closure. To explore some of our recent successful pub investment projects, please see our Investment Showcase page.
Middle Bell has recently undergone a similar transformation to what we are planning for Three Horse Shoes. To see the result, visit the Middle Bell website.
Location:
Brookside, East Leake, Loughborough, LE12 6PB
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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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