Fountain Inn Okehampton

Fore Street, Okehampton, EX20 1AP

  • Fountain Inn Okehampton
  • Fountain Inn
  • Fountain Inn
  • Fountain Inn Okehampton
  • Fountain Inn Okehampton
  • Fountain Inn Okehampton
  • Fountain Inn Okehampton
  • Fountain Inn Okehampton
  • Fountain Inn Okehampton
  • Fountain Inn Okehampton
  • Fountain Inn Okehampton
  • Fountain Inn Okehampton
  • Fountain Inn Okehampton
  • Fountain Inn Okehampton

Fountain Inn Okehampton

£155k Planned Investment

The Fountain Inn is nestled in the lovely town of Okehampton in Dartmoor. Due to be refurbished inside and out, this beautiful pub appeals to both tourists and locals alike. Priding itself as "The Walking Centre for Dartmoor", Okenhampton is home to idyllic scenery and historic castles attracting large numbers of tourists. There is an opportunity to trade all day long from breakfasts and coffee and cakes, through to lunch and dinner.

Following renovation, this is a premium local pub offering excellent traditional pub food in a warm and comfortable environment. It also has six gorgeous letting rooms. The beautiful beer garden which will undergo works, also adds to the pubs allure and is well used in those summer months.

Experienced Operator Wanted

With multiple opportunities to drive trade, Star Pubs & Bars are looking to work with an experienced operator. Can you nail a great food offer and offer a fantastic service from morning to night? If so, send your application today!

Pub Features

  • Rolling Tenancy
  • Letting Rooms
  • Refurbishment Planned
  • Outdoor Trade
  • Private Accommodation
  • Cask Ale
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

Due to be completely refurbished throughout, The Fountain Inn consists of a bar, snug and lounge. The Bar area will have the following works completed: relocate large-screen TV, paint bar front and retain and varnish bar top, new curtains, new fixed seating, install a new glazed panel door with timber panel. In the Snug, works will include new Karndean flooring, faux timbre beam on ceiling and new carpet runner on staircase.

Outside, the Fountain Inn will have a new lighting and signage scheme installed. The popular courtyard will also undergo the following works: new freestanding furniture and new reclaimed timber booth seats with upholstered seat pads, feature pendant booth lighting & festoon lighting elsewhere, clad ceiling with reclaimed timbers. Artificial planting will be installed to perimeter walls.

The six gorgeous en-suite, letting rooms consist of three double rooms, a family room, a triple room and a twin rooms.

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, bathroom, office and a living room. Where required there will be appropriate works carried out in line with the Star Pubs & Bars Ready to Trade Promise.

Premises Licence Details

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
- - - - - - -

Financials

Annual Rent £
44,750
Estimated Tenants Annual Operating Profit £
46,773
Representative HEINEKEN UK Brand Discount Per Barrel £
125
Estimated Annual Turnover £
463,850
Estimated Annual Barrelage
208

“The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details).

** All figures quoted are exclusive of VAT

*** FMOP = Fair Maintainable Operating Profit

Investment

Ingoing Costs
Estimated Licensee Fixtures & Fittings Value £
17,700
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
6,000
Deposit Amount £
11,188
Rent In Advance £
861
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
60
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
37,944
Estimated Minimum Ingoing Costs £
37,944

In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.

The Estimated Licensee Fixtures & Fittings (F&F) Value assumes that the pub will be let on a Rolling Tenancy or Business Start-Up Agreement, where we own the majority of the F&F. The F&F Value for Full Repairing & Insuring Leases will be significantly more.

The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent or £3,000 (whichever is greater) and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs are not included in the rent model or ongoing costs below.

Other SP&B Ongoing Charges
Estimated Annual Buildings Insurance £
2,896
Estimated Annual Maintenance Compliance Charge £
0
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
6,108

The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details)

* All figures quoted are exclusive of VAT

** Deposit build up will be payable over a maximum of 24 months

*** Fixtures and Fittings annual rental fee should be estimated at 15% of the F&F value. The actual F&F value will be determined on the day of entry

**** Maintenance Compliance Charge relates to the fees for various statutory inspections

***** Estimated Legal Fees is a charge applied to your account by SP&B for creation of your Lease. You are required to engage and pay for your own solicitor - your solicitor's fees are not included in the above estimate

****** The above figures assume that rent is billed weekly in advance and that Star Pubs & Bars retain ownership of large fixtures and fittings. Initial costs for a Fully Repairing and Insuring lease will be higher as rent is invoiced monthly in advance and all fixtures and fittings must be purchased