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Run a Star Pub
4 months ago
The area
The North Terrace is located in the town of Newcastle, close to St James Stadium, Central station and the Royal Victoria Infirmary hospital. The pub is surrounded by residential housing. The pub benefits from being one of 2 pubs found in an area of around 3,000 adults. The customer base is made up of students, homeowners and sharers.
Available on our foundation tenancy agreement. Click here for more information on this agreement . The potential of this pub lies in developing a well thought through food & drinksoffer. What food & drinks would you look to implement in the pub?
The site currently has the ability to drive trade via live sports, live entertainment and private function hire. It offers a selection of popular beers, ciders, wines and spirits and a pub classic menu.
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 pub will have extensive experience in a similar hospitality business. They will have a clear vision for their food & drinks menu, marketing strategy, 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 pub’s next chapter...
Features
- Catering Kitchen
- Foundation Tenancy
- Function Room
- Private Accommodation
Trading Area & Facilities
- Main trading area with bar
- Separate dining room
- 70 internal covers
- Catering kitchen
- Function room with bar
- SmartDispense
Private Accommodation
Private accommodation consists of 1 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 £
29,252
Estimated Annual Turnover £
479,239
Deposit £
7,313
Estimated Fixtures & Fittings Value £
17,975
Estimated Stock Valuation £
7,000
Estimated Working Capital £
3,500
Estimated Total Ingoing Costs £
35,788
Estimated Minimum Ingoing Costs £
12,938
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.
