Property Description
Refurbishment Planned
A refurbishment will turn the Cross Keys into a premium, community local. Inside, the pub will be redecorated throughout, with new flooring, new furniture and a new look for the bar servery. We will also be upgrading the kitchen and toilets. This will be a transformational refurbishment, with a planned investment of just under £250,000.
The external areas will be enhanced with a complete redecoration, new furniture, heating, and lighting. We will also be installing an all new, large, covered beer garden. The pub will benefit from new signage and lighting on the front of the pub too. These works will shout about the pubs transformation to passing trade, enticing them to visit.
These changes will encourage new customers to come in and see the amazing change in the pub, experience the new food offer or watch and play sport!
Community focused location!
The Cross Keys is located in the highly sought-after village of Swanwick, a large village in Derbyshire, just south of Alfreton, west of the M1. The pub itself is on the busy main road which joins the A38, a main arterial route between Derby and Mansfield. A busy residential hub, there are 4,500 adults living within a ten-minute walk of the pub.
A pub business with bags of potential
These changes will encourage new customers to come in and see the amazing change in the pub, experience the new food offer or watch and play sport. There are 81 internal and 55 external covers, meaning there is ample opportunity to maximise trade throughout the year. Competition in this area of the market is limited, with most of the other pubs in the village having a drinks led offer.
The right licensee
All we’re looking for is the right operator that understands how to run a community-focused pub. If you’ve benefited from running or owning a pub business, we’d love to hear what experience you can bring. 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…
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
81 internal covers
55 external covers
Catering kitchen
SmartDispense
Outdoor area with pergola
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).
There is private accommodation available at this site.
Premises licence available on request.
Agreement Type
Investment Tenancy
Property Facilities
Children's Play Area
Live Sports
Pub Games
Parking
Outdoor Trade
Private Accommodation
Refurbishment Planned
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
** 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
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.
MISREPRESENTATION ACT 1967
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