Station Hotel Bishop Auckland
201 Newgate Street, Bishop Auckland, DL14 7ELAgreement Type:
Foundation Tenancy
View details for Station Hotel Bishop Auckland
Cumberland Arms Bishop Auckland
Cumberland Arms Bishop Auckland
Newgate Street, Bishop Auckland, DL14 7EN Pub Code: 0070322101
Pub Code: 0070322101
Investment TenancyEst Min Ingoing Costs: £34,461
Annual Rent: £19,844
The area
Positioned strategically within Bishop Auckland's traditional town centre circuit, this pub boasts a unique locale that speaks to the heart of the community. With a demographic profile rich in medium affluence and a notable presence of mature clientele, the potential for growth is immense. Over 12,000 residents reside within a 20-minute walk, ensuring a steady stream of foot traffic. Amidst a competitive landscape of 17 other pubs, the standout contender remains The King’s Head, yet the proposed refurbishment promises to redefine standards and captivate patrons.
The offer
The Cumberland Arms is available on our investment tenancy agreement. Click here for more information on this agreement.
From a revamped bar front to enhanced consumer finishes throughout, the interior makeover promises an ambience of sophistication and comfort. Beyond aesthetics, the exterior glow-up will ensure prominent visibility, beckoning guests from the bustling high street. Targeting community-centric wet circuit drinkers, the tailored offerings will cater to couples, circuit regulars, and daytime male patrons alike. With an impressive selection of drinks, complemented by a lineup of sporting events, pub games, and entertainment, this pub is poised to set a new standard in the local pub scene.
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 Cumberland Arms will have extensive experience in community led hospitality businesses. They will have a clear vision for their drinks menu, marketing strategy and sports offer 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…
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 pubs next chapter…
Trading Area & Facilities
The Cumberland Arms 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.
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
Private accommodation consists of three bedrooms, lounge, kitchen/diner and bathroom. In line with our Ready to Trade Promise, we will ensure the private accommodation is up to standard so that you can focus on your business.
Estimated Total Ingoing Costs
£34,461
Estimated Minimum Ingoing Costs
£34,461
Annual Rent
£19,844
Estimated Annual Turnover
£267,345
Deposit
£4,961
Estimated Fixtures & Fittings Value
£20,000
Estimated Stock Valuation
£6,000
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:
Newgate Street, Bishop Auckland, DL14 7EN
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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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