Property Description
Thorley Park Tavern is a premium local pub opportunity on a busy retail shopping centre in Bishops Stortford, surrounded by housing, parking and everyday footfall. With a large garden, strong sports focus and scope for quizzes, bingo and community events, this is a great opportunity for an operator who can relaunch the pub with energy and local appeal. So, what would you do with Thorley Park Tavern to make it a success?
The area
Thorley Park Tavern is located on the Thorley Park retail shopping centre in Bishops Stortford, a residential estate setting with plenty of parking, strong passing footfall and a large local catchment. There are 13,250 adults living within a 20-minute walk of the pub, giving the next operator a substantial nearby audience to engage.
The pub sits in an area with limited direct competition, with one main food-led competitor nearby. The surrounding area is reasonably affluent, with a strong mix of mid-life carefree customers and young families, making it well suited to a premium local pub that can balance community, sport and family-friendly occasions.
The offer
Thorley Park Tavern is a premium local, wet-led pub with a main trading area and bar, a separate games and sports zone, 46 internal covers and an impressive 154 external covers in the pub garden.
This pub is available on our Foundation Tenancy agreement. Click here to find out more.
Our Foundation Tenancy agreement is our primary pub agreement under the Leased & Tenanted model (L&T) that allows you to run your own pub business with the freedom to set the pub's offer and be responsible for the day-to-day operations of the pub, while the rent for the premises is fixed for a five year term (three year term if the pub is located in Scotland). Backed by HEINEKEN UK, all L&T agreements are tied for beer, cider, alcopops and soft drinks but free-of-tie on wine and spirits.
The pub does not serve food and will be wet-led only, with trade driven through a premium local drinks offer, sports, regular rhythm of the week activity, bingo, quiz nights, a refreshed external frontage and signage, and a garden scheme designed to maximise summer occasions and larger gatherings.
We're also really interested to hear your ideas on how you would 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 pub will have extensive experience in running a wet-led, community-focused premium local pub business. They will have a clear vision for their drinks menu, marketing strategy and entertainment offer and can create a memorable experience for their customers.
The ideal operator will understand how to build loyalty in a residential community, make the most of live sport, create a strong rhythm of weekly events and use the garden as a major trading asset through the warmer months. They should also be confident in relaunching the pub under its new name and attracting both existing customers and new local audiences.
If this sounds like the incredible pub opportunity you’ve been waiting for, apply today and tell us what you can bring to this pub’s next chapter…
The Thorley Park Tavern 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 in the downloads section.
The pubs trading area and facilities post refurbishment will be:
Main trading area with bar
Separate games and sports zone
46 internal covers
154 external covers
Large pub garden
HEINEKEN SmartDispense
Shared car park on a retail estate
Revamped pub garden
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, 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 consists of two bedrooms, a living room, kitchen and bathroom.
Premises license available on request.
Agreement Type
Just Add Talent
Property Facilities
Refurbishment Planned
Kitchen
Outdoor Trade
Private Accommodation
Parking
Pub Games
Property Financials
Additional Information
In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
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 are not included in the rent model or ongoing costs below.
Note that on FRI 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.
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
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
** 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 are provided as a guide only and will be finalised as part of the commercial agreement.
** All figures quoted are exclusive of VAT
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.
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