Top Lock Hotel

Copthurst Lane, Wheelton, PR6 8LT

Under Offer
  • Top Lock Hotel Wheelton
  • Top Lock Hotel Wheelton
  • Top Lock Hotel Wheelton
  • Top Lock Hotel Wheelton
  • Top Lock Hotel Wheelton
  • Top Lock Hotel Wheelton
  • Top Lock Hotel Wheelton

Top Lock Hotel

Canal-side, Cask Ale Haven

The Top Lock is a popular, desirable destination outlet located near Chorley. As the name suggests, the pub is located beside a picturesque lock and canal, in a semi-rural setting. The pub boasts an affluent catchment area within easy reach.

Due to undergo to receive major investment, the Top Lock is extremely popular during summer months due to its sought-after location. The pub is renowned for its quality cask ales and hearty, tasty food, enjoyed in comfortable yet stylish setting. Due to its location, ability to host live music and great ales, the Top Lock has hosted some excellent beer festivals.

Destination Outlet Specialist Desired

Can you create exceptional experiences that drive footfall? We are seeking an experienced, innovative operator who can demonstrate fantastic business acumen.

Pub Features

  • Rolling Tenancy
  • Refurbishment Planned
  • Private Accommodation
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

Internally, the Top Lock is in good order throughout but will benefit from the planned revamp. The traditional bar area provides comfortable seating for guests with cool, modern colours and cosy tartans. The dining area is differentiated by a different colour scheme and booth seating. All trading areas will be redecorated and refreshed.

Externally, the pub will receive a new lighting and signage scheme but will retain the appealing traditional brickwork. There is a car park located across from the site ensuring ample parking for guests.

Full refurbishment plans to follow.

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

Private accommodation in this destination outlet consists of bedrooms, lounge, kitchen and bathroom. Star Pubs & Bars will ensure this living space is in good condition, so you can focus on getting your business right.

Premises Licence Details

For full details, please refer to the Premises Licence.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
11:00 - 23:00 11:00 - 23:00 11:00 - 23:00 11:00 - 23:00 11:00 - 23:00 11:00 - 23:00 12:00 - 22:30

Financials

Annual Rent £
20,750
Estimated Annual FMOP (Licensee Profit) £
23,562
Representative HEINEKEN UK Brand Discount Per Barrel £
150
Estimated Annual Turnover £
281,972
Estimated Annual Barrelage
157

“The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details).

** All figures quoted are exclusive of VAT

*** FMOP = Fair Maintainable Operating Profit

Investment

Ingoing Costs
Estimated Licensee Fixtures & Fittings Value £
11,800
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
4,000
Deposit Amount £
5,188
Rent In Advance £
399
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
50
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
23,572
Estimated Minimum Ingoing Costs £
10,914

In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.

The Estimated Licensee Fixtures & Fittings (F&F) Value assumes that the pub will be let on a Rolling Tenancy or Business Start-Up Agreement, where we own the majority of the F&F. The F&F Value for Full Repairing & Insuring Leases will be significantly more.

The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent or £3,000 (whichever is greater) and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs are not included in the rent model or ongoing costs below.

Other SP&B Ongoing Charges
Estimated Annual Buildings Insurance £
831
Estimated Annual Maintenance Compliance Charge £
945
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
4,908

The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details)

* All figures quoted are exclusive of VAT

** Deposit build up will be payable over a maximum of 24 months

*** Fixtures and Fittings annual rental fee should be estimated at 15% of the F&F value. The actual F&F value will be determined on the day of entry

**** Maintenance Compliance Charge relates to the fees for various statutory inspections

***** Estimated Legal Fees is a charge applied to your account by SP&B for creation of your Lease. You are required to engage and pay for your own solicitor - your solicitor's fees are not included in the above estimate

****** The above figures assume that rent is billed weekly in advance and that Star Pubs & Bars retain ownership of large fixtures and fittings. Initial costs for a Fully Repairing and Insuring lease will be higher as rent is invoiced monthly in advance and all fixtures and fittings must be purchased
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