Gallows Milnrow Rochdale
Wild House Lane, Rochdale, OL16 3JWAgreement Type:
Foundation Tenancy
View details for Gallows Milnrow Rochdale
Falcon Littleborough
Falcon Littleborough
18-20, Church Street, Littleborough, OL15 9AA Pub Code: 2302177101
Pub Code: 2302177101
Investment TenancyEst Min Ingoing Costs: £15,431
Annual Rent: £23,723
Substantial investment to create exceptional new business
Following a full refurbishment inside and out, The Falcon will be transformed into a fantastic community pub.
Major investment will create a fabulous town centre pub that will cater to the local population. 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.
Excellent location
The Falcon is located in Littleborough. Littleborough is located on the main A58 that runs through and over the Pennines to Halifax in West Yorkshire and is only a 9-minute drive from Hollingworth Lake. The local train station is a two-minute walk. Whilst the pub is located right in the middle of the village centre amongst the shops, there is a great selection of established, well-presented community housing that surrounds the pub on all sides.
Huge potential
The transformed Falcon Arms 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 Falcon will attract a broad demographic covering all local customer groups, with various zones created throughout. You’ll find sports fans looking for a nice pub to watch live games & events as well as passing trade from the high street at the weekends.
Offer
The Falcon has the potential to be THE community pub in Littleborough. With competitively priced draught lagers, beers and ciders with the best brands on the market complemented by a simple coffee offer. Guests will be entertained with live sports through Sky & BT, pool, darts, dominoes as well as quizzes, charity fundraisers and live entertainment.
Trading Area & Facilities
Works will be done throughout the pub, touching the Sports Bar, Bar Lounge, Bar Servery, Lounge & Upper Lounge and the Gents & Ladies Toilets. 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
Private Accommodation at the Falcon consists of three bedrooms, a lounge, kitchen and bathroom.
Estimated Total Ingoing Costs
£15,431
Estimated Minimum Ingoing Costs
£15,431
Annual Rent
£23,723
Estimated Annual Turnover
£363,724
Deposit
£5,931
Estimated Fixtures & Fittings Value
£22,030
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:
18-20, Church Street, Littleborough, OL15 9AA
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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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