Needless Inn Morley

The Needless Inn, Leeds, LS27 0NZ

  • Needless Inn Morley
  • Needless Inn Morley
  • Needless Inn Morley
  • Needless Inn Morley
  • Needless Inn Morley
  • Needless Inn Morley
  • Needless Inn Morley

Needless Inn Morley

Investment Planned at Popular Country Pub

The Needless Inn is a beautiful country pub located in Morley, Leeds. The pub has established trade and is known locally as a place to go for a quality, informal meal. We are now planning an investment of over £209,000 to help this promising business meet it's full potential.

The pub would suit a quality food menu that prides itself on being fresh and locally sourced. All the pub classics should feature, however these should be executed to a premium standard.

The Needless boasts a large car park, three distinct trading areas and plenty of scenic outdoor space.

In tandem with the refurbishment, we are proposing a name change to The Cardigan Arms.

Experienced Food Operator Wanted

The right operator for The Cardigan Arms will have a passion for food. They must have prior experience running a similar venue. Ideally, they will be well-connected in the area. If this sounds like you, click Apply Now to find our more about our investment plans.

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).

Pub Features

  • Rolling Tenancy
  • Car Parking
  • Refurbishment Planned
  • Catering Kitchen
  • Outdoor Trade
  • Private Accommodation
  • Cask Ale

Trading Area & Facilities

Inside, the pub is split into three trading areas - the bar, dining room and snug. The existing wooden flooring in the pub will be stripped and restained throughout. We will also add new carpeting and Karndean flooring to key areas.

The existing fixed seating will be upcycled and we will also add new loose furniture. The bar itself will receive new shelving and an overhead glass gantry. All trading areas will be redecorated with new wall art, lighting and bric a brac added. The WCs will also be fully refurbished.

Post refurbishment, the interior of the pub will be able to accommodate circa 100 covers.

Outside, the pub will be rebranded under the name The Cardigan Arms. We will install new signage and lighting to the exterior. The existing decking area will be restained and we will add a new cover to this space for use in all weather.

Private Accommodation

Private accommodation consists of two bedrooms, living room, kitchen and bathroom.

Premises Licence Details

Please see premises licence for further details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
10:00 - 23:00 10:00 - 23:00 10:00 - 23:00 10:00 - 23:00 10:00 - 01:00 10:00 - 01:00 12:00 - 23:00

Financials

Annual Rent £
37,000
Estimated Tenants Annual Operating Profit £
37,901
Representative HEINEKEN UK Brand Discount Per Barrel £
120
Estimated Annual Turnover £
503,032
Estimated Annual Barrelage
239

“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 £
37,783
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
6,000
Deposit Amount £
9,250
Rent In Advance £
712
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
55
Premises Licence Fee £
180
Rates Assessment Fee £
50
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
55,930
Estimated Minimum Ingoing Costs £
55,930

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 £
1,992
Estimated Annual Maintenance Compliance Charge £
1,862
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