Parliament Bar & Kitchen Nottingham

67 Upper Parliament Street, Nottingham, NG1 6LD

  • Parliament Bar & Kitchen Nottingham
  • Parliament Bar & Kitchen Nottingham
  • Parliament Bar & Kitchen Nottingham
  • Parliament Bar & Kitchen Nottingham
  • Parliament Bar & Kitchen Nottingham
  • Parliament Bar & Kitchen Nottingham
  • Parliament Bar & Kitchen Nottingham
  • Parliament Bar & Kitchen Nottingham
  • Parliament Bar & Kitchen Nottingham
  • Parliament Bar & Kitchen Nottingham

Parliament Bar & Kitchen Nottingham

Rare Opportunity - City Centre Bar available to lease

The pub is located in a prime site on Parliament Street, right in the heart of Nottingham city centre and next door to an NCP car park. With the varied demographics of the pub it will appeal to a variety of customers. Adjacent to the Nottingham theatre's and close to Market Square it should also prove popular with shoppers and theatre lovers. There is a strong student influence in the area, as the pub is only 10 minutes from Nottingham University, the students along with city dwellers looking for a weekend entertainment venue will be able to visit this pub with ease.

The main trading area was refurbished in February 2018 creating a modern space, perfect for delivering a well sought after cocktail menu, cask ales and a varied food menu to suit the different trading times of the day. There is another trading area on the lower floor, this space is currently used at weekends as an entertainment venue hosting DJ sets and live music. However, this space could double up as a private function area providing an additional income stream.

Entrepreneurial High Street Operator wanted!

The ideal applicant will have experience running a high street/city centre bar with a flair for great customer experiences and an ambition to drive the business forward and make this pub the go to place in the city for quality drinks and food.

Pub Features

  • Foundation Tenancy
  • Function Room
  • Music Venue
  • Catering Kitchen
  • Private Accommodation
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

The main trading area was refurbished in February 2018 and is well maintained throughout, although the lower floors would benefit from some refurbishment work to make them a real asset to the business. The main trading area is accessed from the High Street, decorated with an industrial feel, creating a modern and vibrant atmosphere. The lower floor is used as an overflow entertainment venue at weekends.

A good sized kitchen space is located on the lower floor serviced by a dumb waiter to the ground floor. The kitchen space is gas ready.

The exterior is very distinctive and now listed due to the proud history of this former Home Ales building.

Private Accommodation

The private accommodation is spread over three floors and consists of 3 spacious bedrooms, large kitchen & bathroom and a lounge. There is also an office and a small outdoor area. Where required there will be appropriate works carried out in line with the Star Pubs & Bars Ready to Trade Promise.

Premises Licence Details

Please refer to Premises Licence for full details

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
11:00 - 02:00 11:00 - 02:00 11:00 - 02:00 11:00 - 02:30 11:00 - 02:30 11:00 - 02:30 11:00 - 02:00

Financials

Annual Rent £
24,903
Estimated Tenants Annual Operating Profit £
25,901
Representative HEINEKEN UK Brand Discount Per Barrel £
200
Estimated Annual Turnover £
333,008
Estimated Annual Barrelage
261

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

Investment

Ingoing Costs
Estimated Licensee Fixtures & Fittings Value £
4,985
Estimated Fixtures & Fittings Valuation Fee £
Estimated Stock Valuation £
Deposit Amount £
6,226
Rent In Advance £
479
Training Fee £
425
Estimated Designated Premises Supervisor / Manager Fee £
50
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
18,300
Estimated Minimum Ingoing Costs £
10,089

In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.

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 are not included in the rent model or ongoing costs below.

Note that on FRI 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.

Other SP&B Ongoing Charges
Estimated Annual Buildings Insurance £
2,921
Estimated Annual Maintenance Compliance Charge £
1,862
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
6,108
Estimated Annual Repairs Fund £
1,300

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

** 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