Spa Scarborough
45 Victoria Road, Scarborough, YO11 1SHAgreement Type:
Investment Tenancy
View details for Spa Scarborough
Londesborough Arms Hotel Seamer
Londesborough Arms Hotel Seamer
24, Main Street, Scarborough, YO12 4PS Pub Code: 2302976101
Pub Code: 2302976101
Investment TenancyEst Min Ingoing Costs: £46,201
Annual Rent: £45,059
The area
Located in the quaint village of Seamer, just a stone's throw from Scarborough, an exciting investment opportunity beckons. With a mature demographic and a steady stream of passing tourists, this area presents the perfect setting for a premium local pub experience. Unlike its competitors, this village lacks a direct contender, providing a clear pathway for a traditional, high-quality establishment to flourish.
The offer
The Londesborough Arms is available on our Investment agreement. Click here for more information on this agreement.
This exciting investment opportunity will transform this traditional coaching inn to include a 70-cover dining area and upgraded kitchen facilities. Once meticulously refurbished, this pub will present a premium local pub experience for village residents who are passionate about a traditional pub experience with character. It will also attract tourists from surrounding areas to this picturesque setting with an extensive outdoor pub garden.
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 Londesborough Arms will have extensive experience in similar hospitality businesses. They will have a clear vision for their food & 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 Londesborough Arms 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.
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 consists of bedrooms, living room, kitchen and bathroom. Where required there will be appropriate works carried out in line with the Star Pubs Ready to Trade Promise.
Estimated Total Ingoing Costs
£46,201
Estimated Minimum Ingoing Costs
£46,201
Annual Rent
£45,059
Estimated Annual Turnover
£630,282
Deposit
£11,265
Estimated Fixtures & Fittings Value
£22,000
Estimated Stock Valuation
£9,436
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:
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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