Run a Star Pub

2 weeks ago

Morpeth, United Kingdom Star Pubs Leased & Tenancy Careers Full time
Pub Overview

Pub Refurbishment Opportunity

Just off the heart of Amble on Lime Street is The Schooner Inn, your cosy spot near the bustling Harbour and Marina. What makes us stand out? Our expansive sunken walled garden offers a peaceful escape, with easy access to scenic walks along the Harbour and town outskirts. With a surge of new housing and a steady flow of tourists during peak seasons, we aim to welcome a diverse mix of locals and visitors, including those with a taste for quality.

Elevate Your Investment: Witness the Transformation

With approximately 4,700 adults within a 20-minute stroll and a lively local scene, The Schooner Inn is a great opportunity. It will offer a premium experience complete with a large beer garden, great food, and seven inviting letting rooms. The transformation from a traditional pub to a modern Premium Local hotspot will undoubtedly make it a go-to destination, especially during the warmer months. We're seeking an enthusiastic operator with a knack for hospitality, food, and events to take the reins and lead The Schooner Inn to new heights.

The Schooner 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 Schooner will have extensive experience in destination food outlet hospitality businesses. They will have a clear vision for their food & drinks menu and marketing strategy 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...

Features
  • Investment Tenancy
  • Catering Kitchen
  • Outdoor Trade
  • Private Accommodation
  • Refurbishment Planned


Trading Area & Facilities

The Schooner 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.

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

Private Accommodation

Private accommodation consists of 1 bedrooms, kitchen, a living room and bathroom.

Pub Financials

Annual Rent £
59,363
Estimated Annual Turnover £
803,752
Deposit £
14,841
Estimated Fixtures & Fittings Value £
32,358
Estimated Stock Valuation £
12,493
Estimated Working Capital £
3,500
Estimated Total Ingoing Costs £
63,192
Estimated Minimum Ingoing Costs £
63,192

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.

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