Kilderkin Edinburgh
67 Canongate, Edinburgh, EH8 8BSAgreement Type:
Just Add Talent
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County Hotel North Berwick
County Hotel North Berwick
17, High Street, North Berwick, EH39 4HW Pub Code: 0080423101
Pub Code: 0080423101
Long-Term FRI LeaseEst Min Ingoing Costs: £196,878
Annual Rent: £61,514
Extensive refurbishment - A versatile pub & rooms in a sought after location
What would you do with this pub to make it a success?
The area
The County Hotel is located in the centre of the North Berwick, on the popular high street just a few hundred yards away from the stunning beach. North Berwick is a relatively small town but growing rapidly in popularity with the addition of numerous new housing developments. Affluence and age is very diverse with a slight bias towards mid/high affluence, with a high level of older adults looking for daytime and early evening options. It is also a very popular destination with tourists all year round particularly during its own annual festival ‘Fringe by the Sea’ which attracts over 60,000 visitors
The offer - When refurbished
• An extensive range of drinks including premium lagers, spirits, wines, and cocktails and low and no alcohol options.
• A delicious, fresh modern menu catering from brunch to dinner
The pub will benefit from the creation of an all year round garden space with a bar in the existing outbuilding as well as upgrades to the existing beer garden including features and festoon lighting
The County Hotel is available on our FRI agreement. Click here for more information on this agreement.
We’re always open to new ideas, what would you do to drive trade?
If you’ve benefited from running or owning a pub business, we’d love to hear what experience you can bring.
The right operator for the County Hotel will have extensive experience in destination food outlet hospitality businesses. They will have a clear vision for their food & drinks menu, marketing strategy Choose an item.and can create a memorable experience for their customers.
If this sounds like the incredible pub opportunity you’ve been waiting for, apply today and tell us what you can bring to this pubs next chapter…
Trading Area & Facilities
The County Hotel will be undergoing a refurbishment which will cover the interior and exterior of the pub.
A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads.
The pubs trading area and facilities post refurbishment will be:
- Ground Floor
- ·• Full refurbishment of existing ground floor areas, opening out 2 room operation into 1 large area.
- ·• Relocation and fit out of existing toilets and new accessible WC. • New windows to front elevation.
- ·• Form new entrance lobby with timber and glazed panels.
- ·• Form full new bar including new H/W top and a raised and fielded panelled front, with over bar sections above.
- • Allow for full back fitting to display shelving, coffee station, tall bottle cooler and a small section of back bar dispense. Feature neon sign/ graffiti to wall.
- ·• New feature shelving display to take 3d bric a brac.
- ·• New fixed seating as shown on plan.
- ·• New floor finishes and wall finishes as mood board.
- ·• New smart dispense system installed in cellar
- ·• Repairs & redecoration to cellar
- 225 internal covers
- 50 external covers
- Upgrade of existing beer garden area with festoon lighting
- 11 letting rooms
- Free on street parking and designated car parks nearby.
First Floor
Refurbishment of existing first floor function room including wall and floor finishes. • Retain existing kitchen and new kitchen hoist to service ground floor area. •
Decoration to stairs and hallway •
The 11 letting rooms situated on first & second floor are not included in investment plans however would form part of the lease and an operator can invest to exploit this potential.
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 upper 2 floors have plenty of accommodation some of which was used for staff previously but its really up to the new operator to determine whether they retain that or not.
Estimated Total Ingoing Costs
£196,878
Estimated Minimum Ingoing Costs
£196,878
Annual Rent
£61,514
Estimated Annual Turnover
£871,100
Deposit
£15,378
Estimated Fixtures & Fittings Value
£163,000
Estimated Stock Valuation
£15,000
Estimated Working Capital
£3,500
The above figures are provided as a guide only and will be finalised as part of the commercial agreement. All figures quoted are exclusive of VAT.
Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
Location:
17, High Street, North Berwick, EH39 4HW
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To apply for this pub or for additional information, please contact us directly
Freephone:
08085 94 95 96
Email us at
enquiries@starpubs.co.uk
Or visit
www.starpubs.co.uk
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