Ship Inn Richmond

93 Frenchgate, Richmond, DL10 7AE

  • Ship Inn Richmond
  • Ship Inn Richmond
  • Ship Inn Richmond
  • Ship Inn Richmond
  • Ship Inn Richmond
  • Ship Inn Richmond
  • Ship Inn Richmond
  • Ship Inn Richmond
  • Ship Inn Richmond

Ship Inn Richmond

'Olde Worlde' Pub - Due for Refurbishment

The Ship Inn is an 'olde worlde' pub in the market town of Richmond. Richmond is in North Yorkshire on the edge of the Yorkshire Dales National Park and approximately 13 miles South West of Darlington. The Rough Guide describes the town as "an absolute gem" and it was named UK town of the year in 2009. The pub is located in the town centre on Frenchgate surrounded by pretty terraced residential homes and there are numerous B&Bs and guest houses nearby as well as local eateries, shops and businesses. Richmond has a strong tourist trade and with the Catterick Garrison Army base nearby expanding there is a plentiful customer base to appeal to, be it locals or visitors.

Currently, the Ship Inn is a traditional wet-led pub full of charm, known for its traditional beers and live music. Star Pubs and Bars are planning to refurbish the pub to further build its appeal and following the work Star envisions the pub introducing a food offer including pizzas, sharing platters and tapas style dishes served alongside a complimentary premium drinks offer.

Can you be the face of the pub?

We are looking for an operator who brings a welcoming presence to the pub and is adaptable to catering to both locals and tourists. You will need to be proven in providing excellent retail standards and ready to be part of the community.

Pub Features

  • Rolling Tenancy
  • Refurbishment Planned
  • Catering Kitchen
  • Outdoor Trade
  • Private Accommodation
  • Weekly Billing

Trading Area & Facilities

Internally, the Ship Inn has a traditional 'olde worlde' charm and features such as an open fire, exposed brick walls and cozy low ceilings give the pub real appeal. The layout is open plan with a raised area to the back featuring a pool table and a snug area at the front.

Star Pubs and Bars has a refurbishment planned for the pub, which once complete would see the pub showcase a refreshed, contemporary decor sympathetic to the pub's heritage, complete with new or revamped fixtures, fittings and soft finishes throughout. The kitchen will also benefit from the investment.

Externally, the pub has a quaint painted facade with real kerb appeal. As part of the refurbishment the pub externals will undergo a facelift to provide additional kerb appeal through a new lighting & signage scheme. There is a secret garden at the rear of the pub, which will also be improved to attract outside trade in the summer months and on-street parking at the front.

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 two bedrooms, kitchen, bathroom and lounge. Where required there will be appropriate works carried in out in line with the Star Pubs & Bars Ready to Trade Promise.

Premises Licence Details

Please refer to the Premises Licence for full details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
10:00 - 01:00 10:00 - 01:00 10:00 - 01:00 10:00 - 01:00 10:00 - 01:00 10:00 - 01:00 11:00 - 00:00

Financials

Annual Rent £
21,250
Estimated Annual FMOP (Licensee Profit) £
26,301
Representative HEINEKEN UK Brand Discount Per Barrel £
150
Estimated Annual Turnover £
255,645
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 £
16,900
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
5,000
Deposit Amount £
5,313
Rent In Advance £
409
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
50
Premises Licence Fee £
180
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
29,817
Estimated Minimum Ingoing Costs £
11,966

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 £
1,627
Estimated Annual Maintenance Compliance Charge £
1,473
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
6,108

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