Pub Overview Major refurbishment to prominent town-centre pub. The Area The Mitre is located in Stourbridge town centre, in a very prominent position. The pub benefits from being in a great location in the town. There are around 4,000 adults within a 10-minute walk and approximately 17,000 within a 20-minute walk. There are 15 competing pubs within a 10-minute walk. While there are no major landmarks nearby, the pub is well placed near good local travel networks. The Offer The Mitre is available on our Investment Tenancy agreement. Click here for more information on our agreements. Most other pubs locally are wet-led, but The Mitre will stand out by offering great cooked food alongside a top range of beer and cider brands. With its newly renovated interior, the pub will appeal to all ages and mixed groups, and the function room provides an additional opportunity for private hire. 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 Mitre will have extensive experience in high street hospitality businesses. They will have a clear vision for their food & drinks menu, entertainment offer and 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 Investment Tenancy Refurbishment Planned Private Accommodation Catering Kitchen Function Room Outdoor Trade Car Park Trading Area & Facilities The Mitre will undergo a full refurbishment covering the internal and external areas of the pub. A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads. The pub’s trading areas and facilities post-refurbishment will be: Main trading area with bar Separate dining room 100 internal covers 16 external covers Catering kitchen Function room SmartDispense Beer garden Car park with 5 spaces Applicants should be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process. Private Accommodation Private accommodation consists of 3 bedrooms, a lounge, kitchen, and a bathroom. Pub Financials Pub Financials Icon Estimated Total Ingoing Costs £30,600 Estimated Minimum Ingoing Costs £30,600 Annual Rent £30,000 Estimated Annual Turnover £479,189 Deposit £7,500 Estimated Fixtures & Fittings Value £13,600 Estimated Stock Valuation £6,000 Estimated Working Capital £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 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. Downloads Demographics Report Download arrow Energy Performance Certificate Download arrow Refurbishment Details Download arrow