Mill Street Pub & Kitchen (Calico)

6 Mill Street, Oakham, LE15 6EA

  • Calico Oakham
  • Calico Oakham
  • Calico Oakham
  • Calico Oakham
  • Calico Oakham
  • Calico Oakham
  • Calico Oakham
  • Calico Oakham
  • Calico Oakham
  • Calico Oakham

Mill Street Pub & Kitchen (Calico)

Great Location, Well Established Business

The Mill Street Pub & Kitchen sits on Mill Street in the heart of the attractive market town of Oakham. Oakham is the county town of Rutland in the East Midlands, consistently voted one of the most desirable rural places to live in the country. It lies to the west of Rutland Water, one of the largest man-made lakes in Europe. Located 25 miles east of Leicester, 28 miles south-east of Nottingham and 23 miles west of Peterborough.

Fitted out to a high standard, Mill Street is an enviable licensed property, with three strong income streams. The current offer focusses on fantastic British food, supported with a selection of wines and cocktails, beer and real ales. But utilising the private dining area, Cavern bar and boutique letting rooms will drive extra revenue.

Experienced and Ambitious Operator Wanted!

We are looking for an operator with experience and ambition to drive the business to the next level, is that you? If so, please come and talk to us.

Pub Features

  • Rolling Tenancy
  • Letting Rooms
  • Car Parking
  • Catering Kitchen
  • Outdoor Trade
  • Private Accommodation
  • Smoking Area
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

There is an entrance hall, with feature glass-fronted wine store and access to the bar area. The bar has a feature fireplace, a mixture of upholstered and bar-stool style seating, open kitchen pass and steps down to restaurant area. There is a Snug, with upholstered perimeter seating, open feature fireplace and wooden flooring.

A Private Dining Room, with approximately 12 covers. A Restaurant with upholstered perimeter seating with steps leading to the conservatory dining area, with over 80 covers. The Cavern Bar is a brick basement bar with bar servery, perimeter and free-standing seating. This area is currently used for private functions.

The letting accommodation is on the first floor, with seven en-suite rooms in total. All are uniquely decorated with a stylish and modern design and well equipped. The letting accommodation comprises of 3x Twin Rooms, 3x Double Rooms and 1x Family Room.

There are attractive paved terraces to the side and rear of the property. External seating for approx. 80, covered smoking shelter and wood store. Car parking to the rear for 10 cars.


Private Accommodation

The private accommodation consists of three bedrooms, lounge, small kitchenette and bathroom. In line with our Ready to Trade Promise, we will ensure the private accommodation is in good condition so that you can focus on your business.

Premises Licence Details

Please refer to Premises Licence for full detail

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
11:00 - 00:00 11:00 - 00:00 11:00 - 00:00 11:00 - 02:00 11:00 - 03:00 11:00 - 03:00 12:00 - 00:00

Financials

Annual Rent £
45,750
Estimated Annual FMOP (Licensee Profit) £
45,335
Representative HEINEKEN UK Brand Discount Per Barrel £
125
Estimated Annual Turnover £
660,958
Estimated Annual Barrelage
105

“The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details).

** All figures quoted are exclusive of VAT

*** FMOP = Fair Maintainable Operating Profit

Investment

Ingoing Costs
Estimated Licensee Fixtures & Fittings Value £
18,885
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
12,000
Deposit Amount £
11,438
Rent In Advance £
880
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
50
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
45,388
Estimated Minimum Ingoing Costs £
18,878

In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.

The Estimated Licensee Fixtures & Fittings (F&F) Value assumes that the pub will be let on a Rolling Tenancy or Business Start-Up Agreement, where we own the majority of the F&F. The F&F Value for Full Repairing & Insuring Leases will be significantly more.

The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent or £3,000 (whichever is greater) and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs are not included in the rent model or ongoing costs below.

Other SP&B Ongoing Charges
Estimated Annual Buildings Insurance £
2,845
Estimated Annual Maintenance Compliance Charge £
1,565
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
6,108

The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details)

* All figures quoted are exclusive of VAT

** Deposit build up will be payable over a maximum of 24 months

*** Fixtures and Fittings annual rental fee should be estimated at 15% of the F&F value. The actual F&F value will be determined on the day of entry

**** Maintenance Compliance Charge relates to the fees for various statutory inspections

***** Estimated Legal Fees is a charge applied to your account by SP&B for creation of your Lease. You are required to engage and pay for your own solicitor - your solicitor's fees are not included in the above estimate

****** The above figures assume that rent is billed weekly in advance and that Star Pubs & Bars retain ownership of large fixtures and fittings. Initial costs for a Fully Repairing and Insuring lease will be higher as rent is invoiced monthly in advance and all fixtures and fittings must be purchased