Property Description
Introduction
The Red Lion is a familiar County Durham village pub on the Great North Road, with letting rooms, live sport, pub food and a large beer garden. So, what would you do with The Red Lion to make it a success?
About the area
The Red Lion is located on the A167, also known as the Great North Road, between Durham and Chester-le-Street in County Durham. Surrounded by quiet village housing and open countryside, the pub is well placed to appeal to locals, passing trade and visitors travelling through the area.
Demographics
The pub benefits from being one of three pubs found in an area of around 206 adults. The existing customer base is made up of midlife and mature adults, giving the pub a strong opportunity to build on its reputation as a welcoming local with broad appeal.
The offer
The Red Lion is a village pub with a main trading area, 120 internal covers, four letting rooms, a catering kitchen, car park and large beer garden.
Our Foundation Tenancy agreement is our primary pub agreement under the Leased & Tenanted model 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. 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. Click here to find out more about this agreement.
We anticipate the estimated turnover for this pub to be in the region of £783,820. The pub currently has a food and drinks offer, including cask ales, coffees, pub classics, popular beers, ciders, wines and spirits. The site has the ability to drive trade through live sport, live entertainment, a strong food offer, letting room stays, and making the most of the beer garden and passing trade from the A167.
We’re also really interested to hear your ideas on how you would drive trade.
Who we’re looking for
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 a food-led hospitality business. They will have a clear vision for their food and 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 pub’s next chapter…
Main trading area with bar
120 internal covers
20 external covers
Catering kitchen
Four letting rooms
Beer garden
Car park
Live sport
Live entertainment
There is no private accommodation available at the pub.
Premises license available on request.
Agreement Type
Foundation Tenancy
Property Facilities
Letting Rooms
Live Sports
Kitchen
Parking
Outdoor Trade
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.
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.
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
MISREPRESENTATION ACT 1967
My Hospitality Solutions Ltd advises that the contents of these particulars are believed to be correct and Lessees should satisfy themselves that they are accurate.
The information and images displayed about the properties advertised comprise a property advertisement only. My Hospitality Solutions Ltd is not liable for the accuracy or completeness of the advertisement or any linked or associated information and My Hospitality Solutions Limited has no control over the content.
