Old Oak Hotel Longridge
111 Preston Road, Longridge, Preston, PR3 3BAAgreement Type:
Investment Tenancy
View details for Old Oak Hotel Longridge
Crofters Arms Leyland
Crofters Arms Leyland
373, Leyland Lane, Leyland, Preston, PR25 1TA Pub Code: 0060216101
Pub Code: 0060216101
Investment TenancyEst Min Ingoing Costs: £10,136
Annual Rent: £19,361
Significant Investment for Leyland Local!
Following a full refurbishment inside and out, The Crofters will be transformed into a fantastic community pub. Major investment will create a fabulous pub that will cater to the local community. There will be multiple zoned areas which will all undergo refurbishment, the bar will be remodelled and the sports area will be improved to cater for the strong sports following the pub already has.
In addition, a fantastic external redecoration will enhance the pub’s kerb appeal with new signage and lighting.
3D Walkthrough available! Click here to view - The Crofters (matterport.com)
Community Focused Location
The Crofters is located in Leyland. Leyland is a town in South Ribble, Lancashire, six miles south of Preston. The area has limited competition as there is only 1 other pub within a 10-minute walk of the Crofters.
Fantastic Potential
The transformed Crofters will feature all the main sports attractions of Sky & BT plus regular events and live entertainment. The pub will attract a lot of the local wet trade, given that it is just a short walk from nearby housing developments, and it will also be a go-to destination to catch up over a drink. We would like to see you bring your own ideas and flair to make the most of this great opportunity.
Target Customers
The stunning new look at The Crofters will attract a broad demographic.
- All local customer groups, with various zones created throughout.
- Sports fans looking for a nice pub to watch live games & events.
Offer
The Crofters has the potential to be THE pub in Leyland.
- Competitively priced draught lagers, beers and ciders with the best brands on the market.
- A simple coffee offer.
- Live sports with Sky & BT, pool, darts, dominoes as well as, quizzes, charity fundraisers and live entertainment.
Special Offer – unlike standard terms for Investment Tenancies, we are offering the option to rent the Fixtures & Fittings
Trading Area & Facilities
Works will be done throughout the pub touching the main bar, games room, bar servery, lounge, gents & ladies toilets and externally. A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads section.
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 private accommodation consists of three bedrooms, kitchen, lounge and bathroom.
Estimated Total Ingoing Costs
£38,408
Estimated Minimum Ingoing Costs
£10,136
Annual Rent
£19,361
Estimated Annual Turnover
£319,755
Deposit
£4,840
Estimated Fixtures & Fittings Value
£25,000
Estimated Stock Valuation
£5,000
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:
373, Leyland Lane, Leyland, Preston, PR25 1TA
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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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