Phoenix

Exeter Road, Exmouth, EX8 1PT

  • Phoenix Exmouth
  • Phoenix Exmouth
  • Phoenix Exmouth
  • Phoenix Exmouth

Phoenix

Be the Best High Street Local

The Phoenix, which is due to get a massive renovation to the value of £246k, is located in the centre of Exmouth, with 15,000 adults within one mile of the pub. Exmouth has a growing population of professionals and is a commuter hub for Exeter. The town has recently benefited from significant investment, making this the perfect place for a new, quality High Street pub, with a stand-out offer.

The pub will be completely overhauled inside and out. Outside, a new signage and lighting scheme will be accompanied by a fresh facelift, while an appealing beer courtyard will be created at the rear of the pub. Inside, all trading areas will be redecorated, from floor to ceiling. Stylish lights and furniture will appeal to diners and drinkers alike. A fresh, quality menu of pub grub will suit this style of venue. As our ambition is to make the Phoenix into the 'Best High Street Local', a number of 'reasons to visit' should feature on a future business plan, such as live sport, music, quizzes and ongoing promotions.

Innovative Operator Wanted

Are you an experienced operator with a passion for excellent customer service? In partnership with Star Pubs & Bars, you will grow your business using your infectious enthusiasm, passion for quality and world-class customer service. Former experience running a similar site is preferable.

Pub Features

  • Rolling Tenancy
  • Music Venue
  • Refurbishment Planned
  • Catering Kitchen
  • Private Accommodation
  • Pub Games
  • Cask Ale
  • Weekly Billing

Trading Area & Facilities

Inside, all trading areas will be redecorated, from floor to ceiling. Stylish lights and furniture will appeal to diners and drinkers alike. The open plan layout will feature a number of different, designated trading spaces such as a warm & cosy seating area at the front, seated booths with private screens will follow and finally, a sports area will be at the rear. A new commercial kitchen will be installed which will allow the operator to deliver a tasty menu.

Outside, a new signage and lighting scheme will be accompanied by a fresh facelift, while an appealing beer courtyard will be created at the rear of the pub.

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 at the Phoenix consists of two bedrooms, lounge, kitchen and bathroom, together with a self-contained bed-sit with bathroom. As part of the refurbishment, the following works will be completed:
  • Strip and replace floor coverings;
  • Full redecorations;
  • Replace bathroom suite;
  • Replace domestic kitchen

Premises Licence Details

Extended trading hours over public holidays. See licence for full details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
10:00 - 00:30 10:00 - 00:30 10:00 - 00:30 10:00 - 00:30 10:00 - 00:30 10:00 - 00:30 12:00 - 00:30

Financials

Annual Rent £
28,500
Estimated Tenants Annual Operating Profit £
32,160
Representative HEINEKEN UK Brand Discount Per Barrel £
175
Estimated Annual Turnover £
413,826
Estimated Annual Barrelage
175

“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 £
34,018
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
6,000
Deposit Amount £
7,125
Rent In Advance £
548
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
60
Premises Licence Fee £
350
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
49,886
Estimated Minimum Ingoing Costs £
45,000

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 £
1,530
Estimated Annual Maintenance Compliance Charge £
874
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
4,908

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