Overview
The Three Fiddles is an attractive stone built pub on Westgate in Guisborough, a picturesque market town. Star Pubs & Bars are planning a major refurbishment with works being undertaken both internally and externally. Post works the Three Fiddles will be the go-to Premium Local in town for residents and tourists alike. Check out the details by downloading the Refurbishment Details document. The refurbishment will have a transformational effect, ensuring patrons have a premium local pub with inviting atmosphere and welcoming vibes.
The Three Fiddles is undergoing a major refurbishment, starting with an internal revamp. The trade areas will be redecorated with new carpets, repolished wood work and new tiles for the WCs. The existing lighting will be cleaned and re-bulbed. Existing fixed seating will be partly recovered and new loose furniture added where necessary. Externally, the pub will also have a makeover, including new external decorations and refurbishment of existing signage and a full overhaul of the walled beer garden to maximise custom throughout the year.
Tourist Town Location: the Three Fiddles is in Redcar & Cleveland. Cobbled on-street parking runs along the road to enable visitors to explore the town. With 18,000 adults within 20 minutes, there is strong potential for the pub to stand out post-refurbishment.
Target Customers
* Local Residents
* Tourists
* Friends & Colleagues
Offer
* A quality drinks range including cask ales
* A simple food offer done well at a great price point
* Televised sports and rhythm of the week entertainment
We're always open to new ideas. If you've benefited from running or owning a pub business, we'd love to hear what experience you can bring. The right operator will have extensive experience in premium hospitality, a clear vision for their food & drinks menu, marketing strategy and entertainment offer, and can create a memorable experience for customers. If this sounds like the opportunity you've been waiting for, apply today and tell us what you can bring to this pub’s next chapter.
Features
* Refurbishment Planned
* Investment Tenancy
* Catering Kitchen
* Live Sports
* Outdoor Trade
* Private Accommodation
Trading Area & Facilities
The Three Fiddles will benefit from a full refurbishment with works being done both internally and externally. For a full summary of planned works, please review the Refurbishment Details in the downloads section. The pubs trading area and facilities post refurbishment will be:
* Main trading area with bar
* Separate dining room
* 82 internal covers
* 58 external covers
* Catering kitchen
Please 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. This 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. This applies to all pubs in England & Wales as per The Pub Code (2016). Private Accommodation: To be confirmed.
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 £50,475
* Annual Estimated Turnover £525,106
* Annual Rent £33,490
* Entry Costs Deposit £8,372
* Estimated Fixtures & Fittings Value £30,525
* Stock Valuation £8,078
* 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. Ongoing costs may include property maintenance and a maintenance 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 are rented. A deposit of 6 months’ rent will be required for operators trading under a Limited Company with no Guarantors.
Note: on FRI and Investment Tenancy Agreements deposits will always be 3 months’ rent in advance and F&F must be purchased. There is a requirement for a minimum £10,000 un-borrowed funds to start.
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