Pleasant Retreat Lostock Hall
2 Watkin Lane, Lostock Hall, Preston, PR5 5RDAgreement Type:
Foundation Tenancy
View details for Pleasant Retreat Lostock Hall
Top Lock Hotel Wheelton
Top Lock Hotel Wheelton
Copthurst Lane, Wheelton, Chorley, PR6 8LT Pub Code: 0060477101
Pub Code: 0060477101
Investment TenancyEst Min Ingoing Costs: £54,200
Annual Rent: £35,691
Canal-side, Cask Ale Haven
Despite its picturesque countryside setting, The Top Lock is perfectly placed to draw on customers from surrounding towns and villages. In fact, there are over 1,200 adults living within a 20-minute walk and around 390,000 within a 20-minute drive. Alongside this, its proximity to the Leeds to Liverpool Canal and the West Pennine Moors creates the perfect opportunity for the incoming lessee to market the pub to tourists and walkers looking to savour quality fare in an honest country setting.
A Grade II listed building, The Top Lock is a quintessential rural inn with lots of variety. A tasteful refurbishment will capitalise on this. The refurbishment and redecoration of The Top Lock will create a cosy country pub with a contemporary offering. A roaring log burner and extensive drinks selection will create a cosy internal trading space throughout the year. Outside, the modernised beer garden, with increased covers and the popular ice cream parlour, will create a honeypot of customers during the warmer months.
Please refer to the attached Refurbishment Details for more information.
Destination Pub Specialist Desired
This is a pub with great potential, all we're missing is the right person to drive it forward. So, could that be you?
Trading Area & Facilities
A tasteful refurbishment including painted wall panelling, cosy leather seating and quirky framed artwork will enhance the pub’s existing character, whilst giving it a modern finish.
Externally the pub already enjoys scenic views over the canal and extensive works, including a new pergola, fixed poseur seating and festoon lighting will ensure the pub is the place to be for the whole community throughout the warmer months.
There is a car park located across from the site ensuring ample parking for guests.
Please 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. This 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. This applies to all pubs in England & Wales as per The Pub Code (2016).
Externally the pub already enjoys scenic views over the canal and extensive works, including a new pergola, fixed poseur seating and festoon lighting will ensure the pub is the place to be for the whole community throughout the warmer months.
There is a car park located across from the site ensuring ample parking for guests.
Please 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. This 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. This applies to all pubs in England & Wales as per The Pub Code (2016).
Private Accommodation
Private accommodation in this destination outlet consists of (TBC) bedrooms, lounge, kitchen and bathroom.
Estimated Total Ingoing Costs
£54,200
Estimated Minimum Ingoing Costs
£54,200
Annual Rent
£35,691
Estimated Annual Turnover
£539,055
Deposit
£8,923
Estimated Fixtures & Fittings Value
£31,777
Estimated Stock Valuation
£10,000
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:
Copthurst Lane, Wheelton, Chorley, PR6 8LT
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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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