Spread Eagle North Shields
Preston Village, North Shields, NE29 9LBAgreement Type:
Foundation Tenancy
View details for Spread Eagle North Shields
New Inn Norwich
New Inn Norwich
12, New Inn Hill, Norwich, NR14 7HP Pub Code: 2303102101
Pub Code: 2303102101
Investment TenancyEst Min Ingoing Costs: £45,983
Annual Rent: £40,591
We’re planning to transform The New Inn into a destination pub.
What would you do with this pub to make it a success?
The area
Situated in a small village on the outskirts of Norwich, The New Inn benefits from a prime spot next to moorings for the Norfolk Broads and a nearby nature reserve, attracting locals, tourists, walkers, and boaters. With no direct competitors in the area, the potential to create a popular go to venue for quality food, drinks, and social events is huge, appealing to families, locals, and visitors alike.
The offer
The New Inn is available on our investment tenancy agreement. Click here for more information on this agreement.
The full refurbishment will breathe new life into The New Inn, with upgrades to all areas, including new signage and refreshed outdoor spaces, ensuring year-round appeal. We’re creating a welcoming atmosphere with a full drinks range and varied menu. With regular events like quiz nights, wine and gin tastings, this is an excellent opportunity for someone with experience in destination sites and a passion for delivering a strong food offer
The right operator for The New Inn will have extensive experience in destination food outlet hospitality business. 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.
When refurbished, The New Inn will offer:
A full range of drinks including beers, ciders, cask ales, premium wines, spirits, and a variety of low & no options. The New Inn will offer a diverse selection to cater to both locals and visitors.
The New Inn will offer a full varied menu. Specials will highlight the best of the region, while the core menu will cater to all tastes, from casual bites to more refined meals
Regular events such as quiz nights, wine and gin tastings, and themed food evenings. These events will not only engage the local community but also drive consistent footfall, making The New Inn a vibrant hub for social activity all year round.
Trading Area & Facilities
The New 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 pubs trading area and facilities post refurbishment will be:
- Main trading area with bar
- 72 internal covers
- 50 external covers
- Large Catering kitchen
- Car Parking
- Patioed external seating Area.
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
Family accommodation located onsite - 3 bedrooms
Estimated Total Ingoing Costs
£45,983
Estimated Minimum Ingoing Costs
£45,983
Annual Rent
£40,591
Estimated Annual Turnover
£514,380
Deposit
£10,148
Estimated Fixtures & Fittings Value
£27,335
Estimated Stock Valuation
£5,000
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:
12, New Inn Hill, Norwich, NR14 7HP
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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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