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Run a Star Pub
4 months ago
Find out if this opportunity is a good fit by reading all of the information that follows below.
City centre location
The Royal Children is located in the centre of Nottingham. It’s close to the entrance of the world famous Nottingham castle. It’s also on the circuit of bars that include other craft led venues and the famous Ye Olde Trip to Jerusalem, allegedly England’s oldest pub featuring rooms actually built into Nottingham’s famous caves. Nottingham city-centre attracts professionals and students either for work or it’s well-known nightlife. There are also over 1,000 very well off ‘uptown elite’ that live in the city’s prestigious Park area of the city within walking distance.
Unmatched potential
The Royal Children is a well-known site in Nottingham. The planned refurbishment and it’s local affiliation give the pub bags of potential. With new kitchen equipment, the pub will be able to provide a food offer as well as tap into the existing but growing local circuit for craft beers. The pubs décor will make it stand out and clearly signal the craft offering. Many of the competitor pubs serve craft but lack the vibe of an authentic craft bar. 64 internal covers will set up the Royal Children to be the best bar in the area. This is a pub business with great potential, all we’re missing is the right person to drive it forward.
Target customers:
The newly refurbished Royal Children will appeal to predominantly young professionals but also transient commuters who come to the city looking for great places to drink.
10,000+ people live within a 10-minute walk.
The demographics are dominated by students and young professionals who enjoy city centre living in predominantly 1- and 2-bedroom flats.
Offer:
The newly refurbished Royal Children will have an on-trend, simple ‘with beer’ food with a focus on burgers, sharers, and sides. It’s drinks will be led by an offering of six craft beers from market leading brands such as Beavertown and Brixton. Local cask ales, premium lagers, premium spirits, and cocktails will also feature on the menu.
The students and local adults will be able to use the venue to meet up or work from during the day and meet friends and colleagues to socialise with in the evening, both indoor and out.
Monthly entertainment, such as live music, will also play a role in the pubs offer.
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 pub will have extensive experience in a high street hospitality business. They will have a clear vision for their food & drinks menu, with knowledge and experience of craft beers, 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 pub’s next chapter....
Features
- Catering Kitchen
- Live Sports
- Pub Games
- Cask Ale
- Private Accommodation
- Monthly Billing
- Weekly Billing
- Investment Tenancy
- Refurbishment Planned
Trading Area & Facilities
Main trading area
- Full internal decoration to walls, ceilings and timberwork
- Provide new uppercase back fitting and retain base section
- Provide new fixed central poseur table to middle of trade area
- Provide new poseur fixed seating to bar area and remove low section. Recover existing settle
- Reface bar counter front and decorate and strip stain and repolish bar countertop and backfitting top
- Allow to strip, stain and repolish existing timber floor
- Provide new bar apron to bar counter front
- Provide new altro flooring behind bar area
- Retain existing stone flagged floor to trading area
- Provide new timber affect plank floor to raised area
- Refurbish existing furniture to be reused and provide new in scheme proposals
- Provide new light fittings and lamps to new and existing positions to the trading area
- Provide new theming to main trading areas with pictures, images
Kitchen
- Make good kitchen area, ensure service requirements are ok for proposals from specialists
- Full decorations to kitchen area walls, ceilings and timberwork
Ladies & gents toilets
- Provide new V boarding to walls to toilet area
- Provide full decoration to walls, ceilings and timberwork
- Provide new vanity unit with sinks and taps etc
- Provide new tiled flooring to toilet area
- Provide new mirrors to vanity unit position
- provide power to hand dryer positions
- Provide new lighting to existing and new positions to ceilings
- Allow timber moulds to doors to toilet and decorate
External
- Full new external signage, lighting to the external façade of the building as per scheme proposals.
- Tidy up all wiring to façade
- Retain all lower tiling to façade of building.
- Remove all hanging baskets and watering system
- Allow for full external decoration works to external of the building
- Remove all lead finish from the glazing
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
The private accommodation consists of 3 bedrooms, lounge, kitchen, bathroom and office. In line with our Ready to Trade Promise, we will ensure the private accommodation is in good condition so that you can focus on your business
Pub Financials
Annual Rent £
32,048
Estimated Annual Turnover £
465,619
Deposit £
8,012
Estimated Fixtures & Fittings Value £
25,000
Estimated Stock Valuation £
8,000
Estimated Working Capital £
3,500
Estimated Total Ingoing Costs £
44,512
Estimated Minimum Ingoing Costs £
44,512
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.
