Victoria Lostock Hall
54 Watkin Lane, Lostock Hall, Preston, PR5 5RDAgreement Type: Investment Tenancy
View details for Victoria Lostock HallNew Deal
Pleasant Retreat Lostock Hall
2, Watkin Lane, Lostock Hall, Preston, PR5 5RD
Pub Code: 0091377101
Key Features
- Foundation Tenancy!
- Food Development Opportunity
- Town Centre Location
- Outdoor Trading Area
- Strong Local Following
Est Min Ingoing Costs: £11,056
Annual Rent: £14,225
More Information
The Pleasant Retreat is a well-established pub at the centre of Lostock Hall, a suburb of Preston. The site benefits from its roadside location and proximity to the main shopping strip of the town. The residents of Lostock Hall tend to be maturing families on mid-range incomes, enjoying comfortable lifestyles.
Whilst being a town centre pub, the Pleasant Retreat has a strong local trade and has had both pool and football teams previously. It has a strong following in the local area and is known to be part of the local community. Our future vision for the Pleasant Retreat is to maintain current wet trade whilst introducing a small food offer to take advantage of the catering kitchen.
The ideal licensee could be an experienced operator with a proven track record in running successful outlets of this type or someone new to the industry looking for their first step into running their own hospitality venue.
Trading Area & Facilities
Internally, this large red brick building has two separate trading areas each supported by one central servery. The main lounge has much more of a pub feel to it with a mix of loose and fixed seating to let you enjoy drinks with friends. The second trading area is more focused around pub games and has a pool table and darts board with several gaming machines. Further to this the pub has a catering kitchen which is currently not in use but represents a good opportunity for future growth.
Externally, the Pleasant Retreat is supported by an outdoor trading area, which has covered seating and a smoking solution, and would benefit from some attention to then be an additional area of the pub to be enjoyed.
Private Accommodation
The private accommodation at the Pleasant Retreat comprises a lounge, kitchen/ dining area, bathroom, three bedrooms and a separate toilet.
| Annual Rent | £ 14,225 |
| Estimated Annual Turnover | £ 236,173 |
| Deposit | £ 3,556 |
| Estimated Fixtures & Fittings Value | £ 8,000 |
| Estimated Stock Valuation | £ 4,000 |
| Estimated Working Capital | £ 3,500 |
| Estimated Total Ingoing Costs | £ 19,056 |
| Estimated Minimum Ingoing Costs | £ 11,056 |
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:
2, Watkin Lane, Lostock Hall, Preston, PR5 5RD
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Freephone:
08085 94 95 96
Email us at
enquiries@starpubs.co.uk
Or visit
www.starpubs.co.uk
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