Top Lock Hotel Wheelton
Copthurst Lane, Wheelton, Chorley, PR6 8LTAgreement Type:
Investment Tenancy
View details for Top Lock Hotel Wheelton
Wheatsheaf Leyland
Wheatsheaf Leyland
16, Leyland Lane, Leyland, PR5 8PH Pub Code: 0060497101
Pub Code: 0060497101
Investment TenancyEst Min Ingoing Costs: £34,108
Annual Rent: £22,432
Substantial Investment for Leyland Local!
Following a full internal and external refurbishment, The Wheatsheaf will be transformed into a fantastic community pub.
Major investment will create a fabulous suburban pub that will cater to the local population. There will be multiple zoned areas which will all undergo refurbishment, the bar will be remodelled and a new pool room will be introduced to cater to the strong sports following the pub already has.
In addition, a fantastic external redecoration will enhance the pub’s kerb appeal with new signage and lighting.
Excellent Location
The Wheatsheaf is located in Leyland. Leyland is a town in South Ribble, Lancashire, six miles south of Preston. The area has limited competition, there is only 1 other pub within a 10-minute walk of the Wheatsheaf and is the closest pub to all the 200 new houses in a new development to the north of Leyland.
Huge Potential
The transformed Wheatsheaf will feature all the main sports attractions of Sky & BT plus regular events and live entertainment. The pub will attract a lot of the local wet trade, given that it is just a short walk from nearby housing developments and it will be the go-to pub to catch up over a drink. We would like to see you bring your own ideas and flair to make the most of this great opportunity.
The stunning new look at The Wheatsheaf will attract a broad demographic from local customer groups to sports fans looking for a nice pub to watch live games & events.
The Wheatsheaf has the potential to be THE community pub in Leyland with competitively priced draught lagers, beers and ciders with the best brands on the market. Non-drinkers will enjoy a great range of soft drinks and a simple coffee offer. All guests will be kept entertained through live sports with Sky & BT, pool, darts, dominoes as well as quizzes, charity fundraisers and live entertainment.
Trading Area & Facilities
Works will be done throughout the pub touching the main bar, pool room, bar servery, gents & ladies toilets, cellar and externally. A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads section.
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 at the Wheatsheaf consists of 2 bedrooms, living room, kitchen, bathroom and office.
Estimated Total Ingoing Costs
£34,108
Estimated Minimum Ingoing Costs
£34,108
Annual Rent
£22,432
Estimated Annual Turnover
£331,079
Deposit
£5,608
Estimated Fixtures & Fittings Value
£20,000
Estimated Stock Valuation
£5,000
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:
16, Leyland Lane, Leyland, PR5 8PH
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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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