Spa Scarborough
45 Victoria Road, Scarborough, YO11 1SHAgreement Type:
Investment Tenancy
View details for Spa Scarborough
Londesborough Arms Hotel Seamer
Refurbishment Planned
Londesborough Arms Hotel Seamer
24, Main Street, Scarborough, YO12 4PS Pub Code: 2302976101
Pub Code: 2302976101
Investment TenancyEst. Annual Turnover: £486,811
Annual Rent: £29,895
A £243,000 refurbishment is planned to transform the Londesborough into a premium village pub with a strong food and letting rooms offer at its heart. What would you do with this pub to make it a success?
About the area
Located in a picturesque village setting, the pub benefits from a train station within the village offering direct links to York and Scarborough, as well as a busy tourist road running through the area. This steady flow of visitors, alongside local residents, creates year-round trading potential.
There are 1,300 adults living within a 10-minute walk of the pub and 2,100 within 20 minutes, providing a solid base of local trade. With the pub currently closed, there is a clear opportunity to rebuild its reputation and reposition it as the go-to premium local. Direct competition for a premium pub experience does not exist within the village, with the nearest alternative being a family dining venue.
The refurbishment will reintroduce the pub to the community with a fresh, modern feel, designed to appeal to a broader and more diverse customer base. With a large refurbished kitchen and eight letting rooms, there is strong potential to attract diners, tourists and destination visitors, as well as tapping into after-work socialisers and weekend breaks.
The offer
The Londesborough is available on our investment tenancy agreement. Click here for more information on this agreement.
Who we’re looking for
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 Londesborough will have extensive experience in food-led hospitality businesses with letting accommodation. They will have a clear vision for a quality food and drink menu, strong standards in guest accommodation, and a marketing strategy that drives both local repeat visits and tourist stays, creating 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
The refurbishment will cover both the interior and elements of the exterior of the pub. The pub’s trading area and facilities post refurbishment will be:
- Main trading area with bar
- Snug area
- 78 internal covers
- 24 external covers
- Fully refurbished commercial kitchen - approximately 450 sq ft
- Eight letting rooms
- Private accommodation with two bedrooms
- Small patio garden
- 64-space car park
- HEINEKEN SmartDispense
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, living room, kitchen and bathroom.
With our 5 Star Promise, the rent at the start of your agreement is fixed until the end of its initial term.
Indicative entry costs
£42,973
Annual
Estimated Annual Turnover
£486,811
Annual Rent
£29,895
Entry Costs
Deposit
£7,473
Estimated Fixtures & Fittings Value
£22,000
Stock Valuation
£10,000
Working Capital Required
£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:
24, Main Street, Scarborough, YO12 4PS
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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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