Tavern Prestwick
3/5 The Cross, Prestwick, KA9 1AJAgreement Type:
Investment Tenancy
View details for Tavern Prestwick
Neidpath Inn Peebles
Neidpath Inn Peebles
27-29, Old Town, Peebles, EH45 8JF Pub Code: 2302147101
Pub Code: 2302147101
Investment TenancyEst Min Ingoing Costs: £49,699
Annual Rent: £44,797
Major refurbishment planned for historic Borders pub!
What would you do with this pub to make it a success?
The area
The Neidpath Inn is in Peebles, a bustling market town in the Scottish Borders with a resident population of just under 10,000 people.
Over 300k visitors stay overnight in the Scottish Borders and the historic Royal Burgh of Peebles is a major destination, because of its history, proximity to Edinburgh, local holiday parks, world renown cycling events and walking opportunities. It is also a great base from which to explore the rest of the Scottish Borders.
The offer
The Neidpath Inn is available on our investment tenancy agreement. Click here for more information on this agreement.
Refurbished with cosy new interiors, a modernised bar, lounge and dining area, the Neidpath Inn, will provide a comfortable & welcoming environment, with updated décor and improved lighting. The traditional exterior will be enhanced to give it strong kerb appeal in its prominent main road position close to the centre of town. There is an opportunity to develop a really good quality Pub Food Offer, both daytime and evening, to complement the quality Drinks Range, which includes Cask Beer. The pub features an attractive Beer Garden and the income potential from four ensuite Letting Bedrooms.
The Neidpath Inn’s upgraded facilities will attract both Local Residents and the many Visitors to Peebles.
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.
We are looking for an enthusiastic person to relaunch the Neidpath Inn. The right Operator is likely to have
- Some knowledge of the local area in and around the Scottish Borders
- Previous experience of creating & delivering a good quality Food Offer in an informal hospitality setting.
- The vision to create a brilliant community focused hub at the Neidpath Inn, which attracts both locals and visitors throughout the year
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 Neidpath Inn will be undergoing a refurbishment which will cover the interior and exterior of the pub.
A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads.
The pub’s trading area and facilities post refurbishment will be:
- Main trading area with bar
- Snug and dining area
- 80 internal covers
- 36 external covers
- Catering kitchen
- 4 letting rooms
- Large beer garden
Applicants should be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process.
Private Accommodation
There is no private accomodation available.
Estimated Total Ingoing Costs
£49,699
Estimated Minimum Ingoing Costs
£49,699
Annual Rent
£44,797
Estimated Annual Turnover
£526,287
Deposit
£11,199
Estimated Fixtures & Fittings Value
£28,000
Estimated Stock Valuation
£7,000
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:
27-29, Old Town, Peebles, EH45 8JF
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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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