Staff Of Life Sutton In Ashfield
West End, Sutton In Ashfield, NG17 1FBAgreement Type:
Foundation Tenancy
View details for Staff Of Life Sutton In Ashfield
King Alfred Alfreton
King Alfred Alfreton
58, High Street, Alfreton, DE55 7BE Pub Code: 0020346101
Pub Code: 0020346101
Foundation TenancyEst Min Ingoing Costs: £42,933
Annual Rent: £29,733
Exciting Opportunity: The King Alfred, Alfreton Pub Refurbishment!
The area
This high street pub is in a prime position with over 4,500 locals living within a 10-minute walk, plus plenty of passing trade. It's perfect for an experienced operator who knows how to create a welcoming atmosphere and engage both daytime and evening customers. With the refurbishment, competitive pricing, and a variety of entertainment options, The King Alfred is set to reclaim its spot as a favourite for the people of Alfreton.
The Offer
Drinks:
• The pub will offer a wide range of drinks, including lagers, cask ale, ciders, spirits, wines, some cocktails along with a great range of soft drinks and low & no options. This variety caters to everyone, from regulars enjoying beers to visitors seeking a more premium experience, ensuring the pub appeals to a broad audience.
Coffee:
• A straight-forward coffee offer could be put in place to help widen the appeal of the pub towards those looking for something other than a cold drink
Events:
• The pub will offer live sports and music, DJ sets or karaoke. These events will create a vibrant atmosphere and will drive a healthy rhythm of the week
The King Afred is available on our Investment agreement. Click here for more information on this agreement.
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 King Alfred will have extensive experience in community led hospitality businesses. They will have a clear vision for their drinks menu, marketing strategy 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 pubs next chapter…
Trading Area & Facilities
The King Alfred will be undergoing a refurbishment which will cover the interior and the exterior of the pub.
A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads.
The pubs trading area and facilities post refurbishment will be:
- Main trading area with bar
- Separate dining room
- internal covers
- external covers
- Catering kitchen
- Out-door trading
- Car park
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
3 double bedrooms, a lounge, kitchen, bathroom and an office.
Estimated Total Ingoing Costs
£42,933
Estimated Minimum Ingoing Costs
£42,933
Annual Rent
£29,733
Estimated Annual Turnover
£359,336
Deposit
£7,433
Estimated Fixtures & Fittings Value
£22,000
Estimated Stock Valuation
£10,000
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:
58, High Street, Alfreton, DE55 7BE
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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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