Run a Star Pub

3 weeks ago

Bishop's Stortford CM, Bishop's Stortford, United Kingdom Star Pubs Leased & Tenancy Careers Full time
Pub Overview

The area

The Thorley Park Tavern is located in Bishops Stortford, a historic market town in Hertfordshire. The pub is next to a shopping centre and a parade of shops and local businesses. The area is of high affluence and there are 3,300 adults living within a ten-minute walk of the pub.

The offer

The Thorley Park Tavern is available on our foundation tenancy agreement. Click here for more information on this agreement .

When refurbished, the Thorley Park Tavern will offer:

A premium focused range of quality drinks including cask ales, lagers, spirits and cocktails

A home-cooked, traditional pub food menu. Affordable for mid-week occasions with a good kids menu too

Coffee & cakes, to enhance the pubs daytime trade

Entertainment as part of the rhythm of the week, such as weekly live music and live sport

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 Thorley Park Tavern will have extensive experience in community led hospitality businesses. They will have a clear vision for their Traditional Pub food & drinks menu, entertainment offer, sports 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
  • Outdoor Trade
  • Refurbishment Planned
  • Investment Tenancy


Trading Area & Facilities

The Thorley Park Tavern 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.

The pubs trading area and facilities post refurbishment will be:
  • Main trading area with bar
  • External Dining Area
  • A total of 188 Internal and External Covers
  • Catering kitchen
  • SmartDispense
  • Beer garden

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 3 bedrooms, a living room, kitchen and bathroom. Where required there will be appropriate works carried out in line with the Star Pubs & Bars Ready to Trade promise.

Pub Financials

Annual Rent £
39,978
Estimated Annual Turnover £
530,172
Deposit £
9,995
Estimated Fixtures & Fittings Value £
18,700
Estimated Stock Valuation £
9,000
Estimated Working Capital £
3,500
Estimated Total Ingoing Costs £
41,195
Estimated Minimum Ingoing Costs £
41,195

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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