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Run a Star Pub

4 months ago

London Central London Greater, United Kingdom Star Pubs Leased & Tenancy Careers Full time
Pub Overview

For a complete understanding of this opportunity, and what will be required to be a successful applicant, read on.

Major refurbishment planned

We are planning a full £272,000 refurbishment that touches every part of the William Morris, creating a premium local pub. We will be redecorating the entire interior of the pub and adding an all-new kitchen. This will develop a fantastic site with great appeal to the key demographics of the area. The pub will benefit from new signage and new paint which will dramatically improve it’s kerb appeal to the high volume of passers-by.

Fantastic location

The William Morris is based in Walthamstow, London. The pub is very central with extensive transport links surrounding it and close to a large college and local council offices. There are nearly 40,000 adults living around the pub, with medium to high demographics. The pub has limited competition, but the pub all new look and feel make the William Morris stand out.

Tap into this pub’s potential

The William Morris has the potential to be the go-to Premium Local with it’s internal and external refurbishment and new kitchen. The new food offer will be a major draw for customers and locals. A great range of drinks and a strong menu with pub classics will appeal to a positive and ambitious operator who is experienced in the pub trade and knows what it takes to run a great pub.

The William Morris 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 William Morris will have extensive experience in community ledhospitality businesses. They will have a clear vision for their food & drinks menu, marketing strategy and entertainment offer 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

  • Catering Kitchen
  • Investment Tenancy
  • Live Sports
  • Refurbishment Planned


Trading Area & Facilities

The William Morris 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 (2016).

Private Accommodation

To be confirmed.

Pub Financials

Annual Rent £
41,025
Estimated Annual Turnover £
577,180
Deposit £
10,256
Estimated Fixtures & Fittings Value £
28,125
Estimated Stock Valuation £
12,000
Estimated Working Capital £
3,500
Estimated Total Ingoing Costs £
53,881
Estimated Minimum Ingoing Costs £
53,881

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.