Register now to receive regular email or text updates when new pubs to let come onto the market and get the latest news from Star Pubs. It’s free and puts you under no obligation.
RegisterCrown Hotel Stornoway
Crown Hotel Stornoway
Castle Street, Stornoway, HS1 2BD Pub Code: 2302969101
Pub Code: 2302969101
Foundation TenancyEst Min Ingoing Costs: £28,500
Annual Rent: £120,000
A fantastic opportunity to utilize both bar areas for live sports, a cocktail lounge, and guest rooms for tourists.
What would you do with this pub to make it even more of a success?
The Area:
The Crown Hotel Stornoway is located in the heart of Stornoway on the island of Lewis, just a 2-minute walk from the Ferry Terminal, close to Lewis Castle, and a 10-minute drive from Stornoway Airport. Surrounded by shops, restaurants, hotels, and tourist attractions, the island is a popular tourist hotspot, attracting over 60,000 visitors in 2024
The Offer:
Available on our foundation tenancy agreement. Click here for more information on this agreement. The potential of this pub lies in developing a 60/40 food & drinks offer. What food & drinks would you look to implement in the pub?
The site currently has the ability to drive trade via 16 letting rooms, live entertainment, live sports and selection of pub games, such as pool, and darts. It offers a selection of a pub classic menu, coffees, and popular beers, ciders, wines and spirits.
We’re always open to new ideas, what would you do to drive trade?
Attitude is more valuable than experience. If you’ve got the following, we’d love to hear from you:
- Understanding of the local community
- You know what it takes to build a successful business
- You love hospitality and are great with 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 pub’s next chapter…
Trading Area & Facilities
- Main trading area with bar
- Separate dining room
- 70 internal covers
- Large kitchen
- Lounge area
- 16 letting rooms
- Pool table/dart board/games area
Private Accommodation
The pub has no private accommodation.
Estimated Total Ingoing Costs
£118,500
Estimated Minimum Ingoing Costs
£28,500
Annual Rent
£120,000
Estimated Annual Turnover
£1,108,194
Deposit
£30,000
Estimated Fixtures & Fittings Value
£70,000
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:
Castle Street, Stornoway, HS1 2BD
[]
Selected pub
Other pubs
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
