Old Toll House St Albans
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Old Chequers Hemel Hempstead
Old Chequers Hemel Hempstead
Gaddesden Row, Hemel Hempstead, HP2 6HH Pub Code: 2303004101
Pub Code: 2303004101
Investment TenancyEst. Annual Turnover: £781,222
Annual Rent: £66,310
Pub Overview
A £495,000 investment is planned to transform the Old Chequers into a welcoming, all-day destination with a fresh design, strong food and drink offer, and year-round appeal. What would you do with this pub to make it a success?
About the area
Nestled in the peaceful countryside just outside Hemel Hempstead, the Old Chequers is perfectly positioned to attract a wide range of customers, from local families and countryside walkers to office workers and couples looking for a relaxing escape. The location offers the charm of rural life while still benefiting from close proximity to a busy town, creating a strong balance of destination and repeat local trade.
ith over 230,000 adults within a 20-minute drive time, there is significant opportunity to build a loyal and diverse customer base. The pub is well placed to stand out in the area, offering something more rounded and experience-led compared to typical local competition, and the refurbishment will reposition it as a go-to spot for both everyday occasions and special visits.
Demographics
The wide catchment and varied audience profile create an opportunity to appeal to families, After-Work Socialisers, and couples seeking a quality food and drink experience in a relaxed countryside setting. The enhanced offer will help drive both daytime and evening trade, as well as repeat visits throughout the week.
The offer
The Old Chequers is available on our investment tenancy agreement. Click here for more information on this agreement. Please refer to the 'Refurbishment Details' section for details of the investment being made.
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 Old Chequers will have extensive experience in community led hospitality businesses. They will have a clear vision for their food and 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 pub’s next chapter…
Trading Area & Facilities
The Old Chequers 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.
The pubs trading area and facilities post refurbishment will be:
- Main trading area with bar
- New Signage
- 30 internal covers
- 84 external covers
- Catering kitchen
- Large garden Click here to enter text.
- Car park
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
The private accommodation consists of four double bedrooms, kitchen, living room, bathroom and shower room.
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
£194,078
Annual
Estimated Annual Turnover
£781,222
Annual Rent
£66,310
Entry Costs
Deposit
£16,773
Estimated Fixtures & Fittings Value
£160,000
Stock Valuation
£14,000
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:
Gaddesden Row, Hemel Hempstead, HP2 6HH
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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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