Old Kings Highway Aberdeen
61 The Green, Aberdeen, AB11 6NYAgreement Type: Foundation Tenancy
View details for Old Kings Highway Aberdeen
Wig Aberdeen
55-56, Castle Street, Aberdeen, AB11 5BA
Pub Code: 0080928101
Key Features
- City Centre Location
- Food & Coffee
- Busy Circuit Bar
- Fantastic private accommodation
Est Min Ingoing Costs: £51,848
Annual Rent: £39,393
More Information
Fantastic Refurbishment Planned
What would you do with this pub to make it even more of a success?
The area
Located in the city centre there is easy access to all the city has to offer as well as a 20 min walk to the University campus, Pittodrie and the beach. Based in the town centre there is a spread of consumers but a greater proportion of young professionals and students nearby. Over 32,000 people (18+) live within a 20 min walking distance of the pub. Located in the city centre there is a range of independent bars and pubs as well as more familiar national chains such as Brewdog, All Bar One & Wetherspoons
The offer
We are planning a full refurbishment at the The Wig, that touches every part of the pub. This will develop an all singing and dancing, city-centre pub with great appeal to the key demographics of the area. This pub will offer a premium experience with a simple, but appealing menu, a very relaxed environment with a new and fresh internal sparkle and an external scheme to reflect the changes with great kerb appeal. The pub will benefit from new signage and finishes to reflect the internal changes with great kerb app
When refurbished, The Tilted Wig will offer:
• An extensive range of premium and craft lagers, spirits, wines, and cocktails and low and no alcohol options.
• A tight menu which compliments the drinks offer and can be delivered consistently. Looking for the operator to define in more detail
• The entertainment offer should complement the pub with regular live weekend music, Pub Quiz and other alternatives such as Comedy.
The Wig is available on our investment tenancy agreement. Click here for more information on this agreement.
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 Wig will have extensive experience in high street hospitality businesses. They will have a clear vision for their marketing strategy, entertainment offer and drinks menu 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 pubs next chapter…
The Wig 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.
Trading Area & Facilities
The pubs trading area and facilities post refurbishment will be:
- Main trading area with bar
- Separate dining room
- 65 internal covers
- Catering kitchen
- Function room
- Smart Dispense
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 consists of 2 bedrooms, a living room, kitchen, bathroom.
| Annual Rent | £ 39,393 |
| Estimated Annual Turnover | £ 498,461 |
| Deposit | £ 9,848 |
| Estimated Fixtures & Fittings Value | £ 28,000 |
| Estimated Stock Valuation | £ 6,000 |
| Estimated Working Capital | £ 8,000 |
| Estimated Total Ingoing Costs | £ 51,848 |
| Estimated Minimum Ingoing Costs | £ 51,848 |
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:
55-56, Castle Street, Aberdeen, AB11 5BA
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View details for Newburgh Inn NewburghTo 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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