Compasses Chelmsford

141 Broomfield Road, Chelmsford, CM1 1RY

  • Compasses Chelmsford
  • Compasses Chelmsford
  • Compasses Chelmsford
  • Compasses Chelmsford
  • Compasses Chelmsford
  • Compasses Chelmsford
  • Compasses Chelmsford

Compasses Chelmsford

Compasses has masses of potential to be a really lucrative business. Situated on the main road to Chelmsford city centre and very close to several residential area the pub will benefit from lots of passing trade. This pub needs to be restored to its formal glory with a great community operator.

A good food offer will make sure the trade kitchen is utilised to its full potential. Also great interaction with the community is essential to the success of this pub. As is great sports and teams and marketing these in the right way.

All these with the right lessee will make sure this pub will thrive in the community.

Pub Features

  • Rolling Tenancy
  • Letting Rooms
  • Car Parking
  • Refurbishment Planned
  • Live Sports
  • Outdoor Trade
  • Private Accommodation
  • Smoking Area

Trading Area & Facilities

The Compasses is a 2 bar operation, First is the large main bar , then there is a smaller but versatile snug room. The pub can cater for up to 50 covers comfortably.

Applicants should be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process.

Where a significant investment is made in a pub by Star Pubs & Bars, an "Investment Exemption" will be required. The exemption means that the option of a Market Rent Option lease won't be available at rent review for a period of up to seven years for this site, as per The Pub Code (2016).

Private Accommodation

The Pub boasts lessee accommodation of 3 bedrooms, bathroom and kitchen. This will be in line with our 'Ready to Trade' promise so you can focus on creating an exceptional venue from the outset.

Premises Licence Details

Please refer to premises licence for full details

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
10:00 - 00:00 10:00 - 00:00 10:00 - 00:00 10:00 - 00:00 10:00 - 00:00 10:00 - 11:00 - 22:30

Financials

Annual Rent £
25,500
Estimated Annual FMOP (Licensee Profit) £
30,853
Representative HEINEKEN UK Brand Discount Per Barrel £
125
Estimated Annual Turnover £
334,732
Estimated Annual Barrelage
197

“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 £
10,000
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
6,000
Deposit Amount £
6,250
Rent In Advance £
2,083
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
60
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
26,528
Estimated Minimum Ingoing Costs £
13,278

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 £
2,971
Estimated Annual Maintenance Compliance Charge £
tbc
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