Tenancy - Old Black Bull, Preston

Location
PR1 2AT, Preston
Salary
Business Opportunity
Posted
02 Sep 2017
Closes
02 Oct 2017

Tenancy - Old Black Bull

PUB OVERVIEW

The Black Bull is a very prominent pub on a great site just off Preston City centre. The pub is over 150 years old and has some great features both inside and out. The pub has always had a reputation for cask beer and sells over 10 different beers. Greene King have an investment planned at the Black Bull to make the best of the old features and enhance them with a very sympathetic refurbishment. Situated on a corner site close to the town centre, this long established cask beer outlet has an investment planned. Many local and national ales feature in the offer, as well as a range of craft beers and lagers with access to a discounted price list. The Black Bull is ideally situated for the centre of Preston and is ripe for the implementation of a food offer. There is a kitchen on site but it is presently not used. The site has great tradition and the investment will only enhance these features and add to the traditional pub feel

BUSINESS INFORMATION Entry

cost from: £36,150.00

Annual rent: £30,000.00 per annum plus 6.00%

Turnover Royalty Agreement

Tenancy – Turnover Tenancy

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

 

LOCATION

The site is on a prominent corner in the centre of Preston, on the junction of Friargate and the ring-way. It has a large council car park directly to the rear with 2 spaces for the pub. The site is very prominent and is only a short walk from the town centre. Preston itself is a large market town with a prominent football team and a very large university which is only 800 yards from the Black Bull.

CURRENT PREMISES LICENCE OPENING HOURS

Sunday - Thursday 08:00 - 00:30 Friday & Saturday 8:00 - 01:30 About the business

TRADE SPACE

The Old Back Bull has three rooms, a small snug to the front of the site and a much larger room to the rear and right, with a seating area opposite the bar tucked away. This larger room is split into 3 areas: the rear bar, the bar area itself and to the front a lounge area. There is a small patio to the rear adjoining the public car park. The investment will look to keep the rooms as they are and accentuate the traditional feel. The site has a very old mosaic floor in the bar that is to be mended and polished as it is a very nice feature of the pub

Bars 2

Trade kitchens 1

Patio areas 1

PRIVATE ACCOMMODATION

The private accommodation is vast, most of the second floor is unused apart from a storage room. The first floor has 4 bedrooms, a lounge, kitchen and bathroom. This area is also to receive refurbishment as part of our development of the site

PRIVATE SPACE

Private Rooms 15 Lounge 1 Single Bedrooms 4 Double bedrooms 6 Private Kitchen 1 Bathrooms 1 Toilets 1 Office 1

FINANCIAL INFORMATION

Entry costs approx £36,150 which includes fixtures and fittings, stock, glassware, crockery, cutlery, fuel and cleaning materials, legal, brokers and stocktaking fees, schedule of condition, training fees, working capital and deposit (25% of head rent, minimum £6,000).

RENT INFORMATION

Annual rent £30,000.00 per annum plus 6.00% Turnover Royalty Notes £30,000.00 per annum, £576.92 per week fixed and subject to annual RPI increase, which is capped. Paid weekly by direct debit subject to credit check. Brokers £675.00 Legal £825.00 Deposit £6,000.00 Stocktaking fees £150.00 Fixtures & fittings £20,000.00 Working capital £5,000.00 Other costs £3,500.00 Total entry cost £36,150.00

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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