Tenancy - The Queens Head, Nutfield

Location
RH1 4HH, Redhill
Salary
Business Opportunity
Posted
02 Sep 2017
Closes
02 Oct 2017

Tenancy - The Queens Head, Nutfield

PUB OVERVIEW

Move in – understand your customers – then help us develop the perfect business

This beautiful Grade 2 listed pub dates back to 1505 and has recently re-established itself as part of the local social scene. Now it’s ready to be a transformed into a high performing retail space. We’re looking for an experienced operator to take on the pub now, which means you’ll have the opportunity to understand the local market and work with us as we carry out the refurbishment. We’re already in discussions with the authorities to agree final planning applications and are expecting to have these approved later in the year. Proposals include increasing the number of dining covers to drive more sales from affluent residents and to provide a better environment so that the Queen’s Head becomes the ‘must visit’ premium destination in the area. Financial details shown in these property details are for the pub in its refurbished condition and part of our business planning will also include agreeing costs for the business before the works have been completed.

BUSINESS INFORMATION

Entry cost from: £41,650

Annual rent: £48,000 per annum

Agreement Tenancy – Standard Tenancy

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

LOCATION

The pub is on the A25 Nutfield High Street in a prominent location, with an easy to access its car park. Your potential customers are mostly 30-59 years old and have 20% higher than national average proportion of managerial and professional workers. Home ownership is also significantly above the rest of the country and people achieve a higher level of education. This all adds up to a well-off group of residents with high disposable incomes – exactly the kind of people who would be seeking out a great quality, premium pub at the heart of their village.

CURRENT PREMISES LICENCE OPENING HOURS

Monday - Thursday - 10.00am - 01.00am Friday - Saturday - 10.00am - 01.30am Sunday - 10.00am - 23.30pm

About the business

TRADE SPACE

The pub is traditional in style and sympathetic to its listed status. There is currently capacity for 56 diners and an outside space that can increase turnover in the summer months. Our proposals are to increase the number of dining covers to 78 and refit the interior with a more contemporary take on a heritage pub – using stylish period furniture and clean, simple lines offset by a ‘Farrow & Ball’ style colour palette. We will also redecorate the outside of the building in keeping with its traditional style and put in new premium signage. We’ll create a drive-to destination business that really appeals to people in your catchment area.

PRIVATE ACCOMMODATION

The newly refurbished private accommodation is fairly large and includes 4 bedrooms along with a new fitted kitchen and bathroom. This would be great for dual operators sharing or a ready-made space for someone with a family who would like to take advantage of excellent local schools.

FINANCIAL INFORMATION

Entry costs approx £41,650 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). Existing fixtures & fittings circa £15k, but addtitional funds will be required for fixtures & fittings to go with the investment refurbishment scheme.

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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