High Dive Edinburgh
81/85 St Leonards Street, Edinburgh, EH8 9QYAgreement Type:
Foundation Tenancy
View details for High Dive Edinburgh
Waverley Hotel Bonnyrigg
Waverley Hotel Bonnyrigg
68-70, Dundas Street, Bonnyrigg, EH19 3BB Pub Code: 2302134101
Pub Code: 2302134101
Foundation TenancyEst Min Ingoing Costs: £47,746
Annual Rent: £38,983
Exciting refurbishment planned for a great community led pub with eight letting rooms.
What would you do with this pub to make it a success?
The area
We’re investing in transforming the Waverley Hotel in Bonnyrigg, Midlothian, just seven miles from Edinburgh. It’s well-placed near the high street and Bonnyrigg Rose football ground, appealing to both locals and visitors. With new housing developments nearby, younger families are moving in, and over 13,000 people live within a short walk, offering a strong customer base. The pub also offers eight letting rooms, providing an additional revenue stream and appealing to visitors looking for accommodation.
The offer
The refurbishment will give the Waverley Hotel a modern yet welcoming feel, with updated décor and improved lighting. Outside, the refreshed look will boost its kerb appeal. With an extensive drinks selection, a menu of crowd favourites, and a spacious beer garden for over 50 covers, this pub has great potential to attract a diverse mix of customers. The addition of eight letting rooms enhances its appeal, making it a versatile destination for both locals and out-of-town guests
The Waverley Hotel is available on our foundation tenancy agreement. Click here for more information on this agreement.
Trading Area & Facilities
The Waverley Hotel 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
- 30 internal covers
- 50 external covers
- 5 letting rooms.
- Beer garden
- On street parking
- Smart Dispense
- Catering Kitchen
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
This pub has no private accommodation.
Estimated Total Ingoing Costs
£47,746
Estimated Minimum Ingoing Costs
£47,746
Annual Rent
£38,983
Estimated Annual Turnover
£472,412
Deposit
£9,746
Estimated Fixtures & Fittings Value
£27,000
Estimated Stock Valuation
£7,500
Estimated Working Capital
£3,500
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:
68-70, Dundas Street, Bonnyrigg, EH19 3BB
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To apply for this pub or for additional information, please contact us directly
Freephone:
08085 94 95 96
Email us at
enquiries@starpubs.co.uk
Or visit
www.starpubs.co.uk
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