Choughs
8 High Street, Chard, TA20 1QFAgreement Type: Investment Tenancy
View details for ChoughsRefurbishment Planned
Three Tuns
133, High Street, Honiton, EX14 1HR
Pub Code: 2302643101
Key Features
- Exciting Refurbishment Planned
- Grade II Listed Building
- Town Centre Location
- Great food Opportunity
- Outside Trading Area
Est Min Ingoing Costs: £36,375
Annual Rent: £33,500
More Information
Exciting Investment planned at The Three Tuns Pub!
We're investing in a complete refurbishment of the Three Tuns, located in the heart of Honiton High Street. This market town, with a population of nearly 12,000, draws tourists and locals alike, especially in the spring and summer. The Three Tuns will feature four distinct zones; a bar area, restaurant area, games area and an outdoor seating area that will offer something for everyone.
The offer:-
The Three Tuns is available on our investment tenancy agreement. Click here for more information on this agreement.
When refurbished, The Three Tuns will offer:
Drinks: Wide-ranging selection of beverages, including beers and ciders with a premium spirits and soft drinks offer.
Food: A great pub menu with classic dishes and daily specials.
Coffee: Barista-style coffee, perfect for any time of the day.
Events: Experience live events, theme nights, and special offers throughout the year.
The Three Tuns will appeal to:
Local residents, including families and older adults, will enjoy the welcoming atmosphere for coffee, cake, and classic pub meals. The revamped pub will be a go-to spot for everyday socialising and dining.
Local workers and shoppers will appreciate the convenient location for lunch breaks, after-work drinks, and quick bites. The varied menu and premium drinks selection cater to those looking for a quality yet quick dining experience.
Tourists visiting the nearby Jurassic Coast, South West Coast Path, and Black Down Hills will find the Three Tuns an ideal place to relax and refuel. The pub’s location in Honiton High Street makes it a convenient stop for refreshments and meals during their adventures.
Young adults and the evening crowd will be drawn by the lively atmosphere, theme nights, and live even.
We’re always open to new ideas, what would you do to drive trade?
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 the Three Tuns will have experience in high street hospitality businesses. They will have a clear vision for their food & 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 pubs next chapter…
Trading Area & Facilities
The Three Tuns will be undergoing a refurbishment which will cover the interior and 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
- Separate dining room
- Games area
- 60 internal dining covers
- 32 drinking covers.
- 72 external covers
- Trade kitchen
- SmartDispense
- Outside Trading area to 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
Private accommodation consists of a flat with 4 bedrooms, a living room, kitchen, and bathroom
| Annual Rent | £ 33,500 |
| Estimated Annual Turnover | £ 531,560 |
| Deposit | £ 8,375 |
| Estimated Fixtures & Fittings Value | £ 20,500 |
| Estimated Stock Valuation | £ 4,000 |
| Estimated Working Capital | £ 3,500 |
| Estimated Total Ingoing Costs | £ 36,375 |
| Estimated Minimum Ingoing Costs | £ 36,375 |
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:
133, High Street, Honiton, EX14 1HR
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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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