Priory Tynemouth
Front Street, Newcastle, NE30 4DXAgreement Type:
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Dr Syntax Prudhoe
Dr Syntax Prudhoe
Front Street, Prudhoe, NE42 5DB Pub Code: 0070328101
Pub Code: 0070328101
Investment TenancyEst Min Ingoing Costs: £38,401
Annual Rent: £23,604
A major refurbishment for this lively community pub.
The Area:
The pub benefits from being one of five pubs found in an area of around 3,968 adults. The Dr Syntax customer base is made up of young, midlife and mature adults. Located in Prudhoe, a Northumberland town with strong local footfall and minimal direct competition, the pub is ideally placed to become the hub of the community.
The Offer:
The Dr Syntax is available on our investment tenancy agreement. Click here for more information on this agreement. We’re making a significant investment in transforming the Dr Syntax into the go-to community pub in Prudhoe. With a full ground-floor refurbishment, a sports zone, upgraded kitchen, and new décor and signage, this pub is set to reclaim its place at the heart of the town.
We’re always open to new ideas, what would you do to drive trade?
The right operator for the Dr Syntax will have extensive experience in running hospitality businesses. They will have a clear vision for their food, drink and entertainment 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 pub’s next chapter…
Trading Area & Facilities
- Main trading area with bar
- Separate dining room
- Approximately 60 internal covers
- Approximately 20 external covers
- Commercial kitchen
- Function room
- HEINEKEN SmartDispense
- Large garden with refreshed seating and décor
- Car park with approximately 15 spaces
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, 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 two bedrooms, a living room, kitchen, and a bathroom.
Estimated Total Ingoing Costs
£38,401
Estimated Minimum Ingoing Costs
£38,401
Annual Rent
£23,604
Estimated Annual Turnover
£435,684
Deposit
£5,901
Estimated Fixtures & Fittings Value
£25,000
Estimated Stock Valuation
£4,000
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:
Front Street, Prudhoe, NE42 5DB
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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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