Tenancy - Golden Lion Hotel, Weymouth

Location
DT4 8AR, Weymouth
Salary
Business Opportunity
Posted
02 Sep 2017
Closes
02 Oct 2017

Tenancy - Golden Lion Hotel

PUB OVERVIEW
The Golden Lion is a fantastic opportunity for a skilled and driven pub operator. This public house has the scale and potential for expansion to increase all income streams with additional opportunity for capital expenditure to introduce functions and letting rooms.
This public house is a solid business with an established food and drinks trade. The existing business was refurbished circa 2 years ago and caters for locals and tourists within this very popular location. There is a large bar servery that is supported by an extensive and well equipped commercial kitchen. The trading space is very large and flexible with a pavement
licence in place for some town centre external trading. Regular entertainment is a feature at the Golden Lion along with sports viewing.

BUSINESS INFORMATION
Entry cost from:£43,800.00
Annual rent:£25,000.00 per annum plus 7.50% Turnover
Royalty Agreement
Tenancy – Turnover Tenancy
Type of Tie:Full tie: Access to Discounted Wines, Spirits & Minerals Price List

LOCATION
The Golden Lion is located in Weymouth town centre and only a very short walk away from the harbour and the sea. There are established road and rail
links with all local amenities close by

CURRENT PREMISES LICENCE OPENING HOURS
Mon to Thurs 09:00 - 02:00 Fri & Sat 09:00 - 03:00 Sun 09:00 - 01:00

TRADE SPACE
This pub offers a very large trading area which can be zoned to provide
options when catering for different occasions: this can be used to
increase flexibility of the space to maximise income. Gents and disabled
toilet facilities are located on the ground floor with the ladies toilets
situated on the 1st floor. There is a large bar servery that is supported
by an extensive and well equipped commercial kitchen. There are two
function rooms on the 1st floor that are not currently used, and
numerous spaces on this floor and the 2nd & 3rd floors to potentially
implement letting accommodation. The entire trading area is in good
order and finished to a high specification.

Bars 1
Dining rooms 1
Food covers 100
Function rooms 2
Trade kitchens 1

PRIVATE ACCOMMODATION
The private living accommodation is in good order and is located on the
1st floor and consists of 1 x large lounge, 3 x double bedrooms, 2 x
bathrooms, a utility room and domestic kitchen diner.

PRIVATE SPACE
Private Rooms 11
Lounge 1
Double bedrooms 3
Private Kitchen 1
Bathrooms 2
Toilets 2
Office 1
FINANCIAL INFORMATION
Entry Costs approx £43,800 which includes fixtures and fittings, stock,
glassware, crockery, cutlery, fuel and cleaning materials, legal, brokers
and stocktaking fees, training fees, schedule of condition, working
capital and deposit (25% of head rent, minimum £6,000). Please note
that the fixtures & fitting cost has been estimated and is yet to be
valued.

RENT INFORMATION
Annual rent £25,000.00 per annum plus 7.50% Turnover Royalty
Notes £25,000 per annum, £480.77 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 £25,000.00 Working capital £5,000.00
Other costs £6,150.00 Total entry cost £43,800.00

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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