Tenancy - Red Lion, Biggleswade

4 days left

Location
SG18 8ED, Biggleswade
Salary
Business Opportunity
Posted
01 Jun 2017
Closes
01 Jul 2017

Tenancy - Red Lion

PUB OVERVIEW

Well located locals pub in Bedfordshire market town *Large discount on beer!* Live music venue! Free of tie on machines. Forecasted Operator Machine Profit for this business is £14,500. Live music pub, refurbished in 2015. The Red Lion has a following for live music. It has a stage, a pool table, a courtyard with a smoking shelter and a good size car park. There is a weekly quiz, and frequent karaoke and discos.

BUSINESS INFORMATION

Entry cost from: £26,650.00

Annual rent: £35,000.00 per annum

Agreement Tenancy – Standard Tenancy

Type of Tie: Full tie: Access to Discounted Wines, Spirits & Minerals Price List

LOCATION

The Red Lion is situated in Biggleswade town centre is on the circuit but also has a car park for destination trade for the live music events.

CURRENT PREMISES LICENCE OPENING HOURS

Monday - Wednesday 10:00 - 00:30 Thursday 10:00 - 01:30 Friday - Saturday 10:00 - 02:30 Sunday 11:00 - 00:00 About the business

TRADE SPACE

The Red Lion has 1 bar, a stage, 2 large curved boothed seats, high level drinking space and dance floor space. There is a courtyard with a smoking shelter and a large car park

Bars 1 Car park spaces 18 Food covers 20 Trade kitchens 1 Patio areas 1

PRIVATE ACCOMMODATION

The accommodation is in fair condition.

PRIVATE SPACE

Private Rooms 8 Lounge 1 Single Bedrooms 2 Double bedrooms 2 Private Kitchen 1 Bathrooms 1 Office 1

FINANCIAL INFORMATION

Entry costs approx £26,650 which includes fixtures and fittings, stock, glassware, crockery, cutlery, fuel and cleaning materials, legal, brokers and stocktaking fees, training fees, schedule of conditions, working capital and deposit (25% of head rent, minimum £6,000).

RENT INFORMATION

Annual rent £35,000.00 per annum Weekly rent £673.08 per week fixed Notes £35000 per annum, £673.08 per week fixed and subject to annual RPI increase, which is capped. Paid weekly by direct debit. Machine income free of tie. Brokers £675.00 Legal £825.00 Deposit £6,000.00 Stocktaking fees £150.00 Fixtures & fittings £10,000.00 Working capital £6,000.00 Other costs £3,000.00 Total entry cost £26,650.00

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.

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