Tenancy - Red Lion

Location
IV36 1PH, Forres
Salary
Business Opportunity
Posted
01 Jun 2017
Closes
27 Jun 2017

Tenancy - Red Lion

PUB OVERVIEW

The Red Lion is a well established business which would offer the right person the chance to continue to develop and grow the food potential of this site, while keeping this gem of a pub as the best gathering, eating and meeting place in Forres. This well-known local town pub has a great reputation for offering quality products, good customer service and a warm friendly welcome. The public bar offers pool, darts and live sports making it the hub of the community. The lounge bar has a more relaxing atmosphere providing s substantial food offer with a great mix of cask ale, wine and whisky.

BUSINESS INFORMATION

Entry cost from: £17,125.00

Annual rent: £37,000.00 per annum

Agreement Tenancy – Standard Tenancy

Type of Tie: Partial tie: Tied All Beer & All Cider

LOCATION

Forres is a thriving town and former royal burgh situated in the north of Scotland on the Moray coast, approximately 25 miles east of Inverness. Visited by numerous tourists throughout the year, Forres has been a winner of the Scotland in Bloom award on several occasions. There are many geographical and historical attractions nearby such as the River Findhorn, and there are many historical artifacts and monuments within the town itself.

CURRENT PREMISES LICENCE OPENING HOURS

Sunday to Thursday 11:00 - 00:30 Friday & Saturday 11:00 - 01:30 About the business

TRADE SPACE

The main bar area has a pool table, dart board and shows live sport There is also a jukebox and a number of gaming machines. The pub boasts an external courtyard, which is licenced and can accommodate up to 30 people, off the main bar. There is a fully fitted kitchen providing a substantial food offer to the lounge bar/restaurant.

 Bars 2

Dining rooms 1

Food covers 50

Patio areas 1

 

PRIVATE ACCOMMODATION

There is ample living accommodation on site with 2 double bedrooms and 2 single bedrooms. There is plenty of unused space that has various storage and office space that could become more living or potentially letting rooms.

PRIVATE SPACE

Private Rooms 9 Lounge 1 Single Bedrooms 2 Double bedrooms 2 Private Kitchen 1 Bathrooms 1 Toilets 1 Office 1

FINANCIAL INFORMATION

Entry costs approx £17,125 which includes stock, glassware, crockery, cutlery, fuel and cleaning materials, legal, brokers and stocktaking fees, training fees, working capital and deposit (25% of head rent, minimum £6,000). Please note Fixtures and Fittings are still to be valued. (Brokers fees not applicable in Scotland.)

RENT INFORMATION

Annual rent £37,000.00 per annum Weekly rent £711.54 per week fixed Notes £37,000 per annum, £711.54 per week fixed and subject to annual RPI increase, which is capped. Paid weekly by direct debit. Brokers TBC Legal £825.00 Deposit £6,000.00 Stocktaking fees £150.00 Fixtures & fittings TBC Working capital £3,000.00 Other costs £7,150.00 Total entry cost £17,125.00

ESTIMATING TURNOVER

You will need to estimate the turnover you expect to achieve from the pub, with regard to food and accommodation (if applicable). Barrelage figures are given to assist you with calculations. Calculators to help you are available on the business planning section of our website.

WHY CHOOSE US?

By choosing Greene King, you’ll be joining one of the Uk’s most successful and respected leased and tenanted pub companies. With a heritage of running pubs and brewing beer that can be traced back over 200 years, at Greene King we’re proud of our history and confident that, as the country’s leading pub retailer and brewer, we can help make your pub the success it deserves to be.