The right operator for the Three Horseshoes will have extensive experience in community led hospitality businesses. They will have a clear vision for their food & drinks menu, a robust rhythm of the week and can create a memorable experience for their customers.
Investment & Tenancy
* Investment Tenancy
* Private Accommodation
Trading Area & Facilities
The Three Horseshoes 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 and dining area with bar
* Separate dining room
* 109 internal covers
* 150 external covers
* Catering kitchen
* HEINEKEN SmartDispense
* Large beer garden with covered area
* Large car park
Additional Notes
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 4 bedrooms, a living room, kitchen, and bathroom.
Pub Financials
With our 5 Star Promise, the rent at the start of your agreement is fixed until the end of its initial term. Indicative entry costs £42,248
* Annual Estimated Turnover £550,617
* Annual Rent £33,731
* Deposit £8,433
* Estimated Fixtures & Fittings Value £22,315
* Stock Valuation £8,000
* Working Capital Required £3,500
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 months’ rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 months’ 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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