About the Property
The Bird & Bush is well connected with the local community and features sky sports, live music events and pub games. The quality of the wet led entertainment is in need of a refresh to keep the reasons to visit strong. The quality of the current food offer is failing to drive strong and sustainable sales amongst the current clientele, local residents and destination trade. Average turnover is £5,800 net a week on a 93/7 wet/food split.
• This detached community pub is a substantial 2 storey property of brick construction occupying an excellent trading position at the entrance to a small group of retail outlets.
• The large and open trading area are in a good state of repair, the ground floor comprises of a single central bar which serves the lounge, dining and games areas. Externally there is a good sized paved beer garden with timber picnic benches and a covered designated smoking area.
• There is a fully fitted commercial grade kitchen with stainless steel appliances and preparation surfaces. There is also a ground floor cellar with additional storage area.
• The domestic accommodation is situated on the first floor and comprised of three bedrooms, one with en suite shower, kitchen, lounge and bathroom.
With the current 93/7 wet/food split, there is potential to increase weekly sales by driving the food offer and number of functions.
In addition, there is a great opportunity to maximise wet trade by building on the current activity and putting the pub at the heart of the local community. Currently, the average weekly net sales are approximately £5,800.
• From previous experience, based on the style of operation and the location, we would anticipate that the Bird & Bush has the potential to reach a fair maintainable turnover of £396,781 net per annum (£7,630 net per week) with an 82/18 spilt wet to dry, sustaining a rent of £35,000 pa. Please note that these are estimated figures which are for guidance purposes only.
This opportunity would suit strong, experienced operators with catering skills. Applicants must be committed to driving new wet activity and enhancing the food offer. In addition, they will need to be committed to providing great hospitality and engage with the local community.
TERMS OF TENANCY/LEASE OFFERED
A 3 year fixed term or renewable tenancy agreement is offered with a full tie to buy all drinks (beer,wines, spirits, minerals, stouts and ciders) from Charles Wells Ltd.
There is a current premises license in place for alcohol and regulated entertainment, with licensing hours being Monday to Sunday and 10am to 12am. A copy of the license will be made available for applicants to view.
Information about current business rates can be found at www.voa.gov.uk We always encourage our licensees to challenge rates by using Gerald Eve, our nominated specialist.
ANTICIPATED INVESTMENT REQUIRED
We estimate the Investment required for this pub would be as follows:
|Security Deposit in the region of
(paid in advance to Charles Wells Ltd) held to cover credit and rental charges. Returnable at the end of the agreement.
|Fixtures and Fittings estimated valuation (paid to the outgoing licensee via the valuer at least 7 days in advance) to purchase e.g. carpets, curtains, tables and chairs, kitchen equipment. The successful applicant must reply upon the valuation provided by their appointed licensed trade valuer in relation to the actual sum to be paid.||
|Stock and Glassware in the region of
(paid to the outgoing licensee on the day of changeover) to cover the value of opening stock.
|Valuers Fees in the region of
(paid to valuer) for valuing fixtures and fittings.
|Training Course Fees per person
(payable to Charles Wells Ltd) 5 day CRISP induction course mandatory for all licensees – NB £800 for two people.
|Administration Fee in the region of
(payable to Charles Wells Ltd in advance) to cover e.g. premises license changes, solicitors fees and agreement.
|Advance Rent in the region of (usually 1 month)||
|Minimum Working Capital Required||
Please note that these are estimated figures, given as a guide only, includes fixtures and fittings.
|Rent in the region of
(payable monthly in advance)
|Service Charge in the region of
Payable monthly, to include: Cellar cooling service, Buildings insurance, Fire Compliance, Boiler maintenance (tenancies only). NICEIC Electrical Test (tenancies only)
|Accountancy Services in the region of
fees for nominated accountant
£ 2,600 pa
|Stocktaking Services in the region of
We recommend all licensees should have six professional stocktakes per annum
Please note that these are estimated figures, given as a guide only.
Goods and services may be subject to VAT.
If you’re planning to run a pub you’ll need a Personal Licence. If you don’t already have one, you should start making enquiries to take the one day course and exam to get the Award for Personal Licence Holders (APLH). For information on getting a Personal Licence and training courses available, please look at http://www.charleswellspubs.co.uk/static/training or phone us for the relevant details
You will also need to complete the online BII Pre-Entry Awareness Training (PEAT) course, which has been introduced to help prepare new licensees for taking on their own pub. Applicants will be asked to provide evidence that they have completed the course before they can be offered a pub. Details can be found online on the BII website at www.bii.org/peat
To make an application for this business opportunity, please complete an application form and return it to us as quickly as possible. You can apply online, by post or by calling Philippa Stanbrdige on 01234 244423 or via email at email@example.com. Please fill in as fully as possible and give us a call if you’ve any queries.
When we’ve had a chance to consider your application, you may be invited to attend an initial interview. This will give you and Charles Wells the chance to learn more about each other. You will also have the opportunity to ask any questions you have.
BUSINESS, FINANCE & MARKETING PLAN & 2ND INTERVIEW
If your initial interview is successful, we’ll ask you to prepare a business plan for the pub for presentation at a 2nd interview. You’ll need to include your ideas for developing the pub’s potential and must also include the source of funding for purchasing the business and any developments that may be needed.
If your application is successful, an offer will be made and confirmed in writing. This will include the legal position or ‘Heads of Terms’ of the appropriate agreement. You’ll be expected to attend our five day retailer induction course (CRISP). This will help prepare you for your new business venture and you’ll meet a number of key Charles Wells staff. If this is your first tenanted or leased pub, we also offer the chance to spend time with one of our experienced retailers in their pub.
Charles Wells provides a high level of business support, some of which will be provided through the Monthly Service Charge.
• AWP Consultancy
• Short term loans for business purposes
• Technical Services
• Accountancy support / stocktaking
• Payroll support
• Training courses
• Wine List Planning
• Facilities and Compliance review
• Central point of contact through customer helpdesk
MISREPRESENTATION ACT 1967
Charles Wells Ltd gives notice that the contents of these particulars are believed to be correct but are given without responsibility and intending purchasers or lessees should satisfy themselves by inspection or otherwise to their correctness. These particulars do not form any part of any offer or contract and no person in the employment of the company has any authority to make or give representation of warranty to this property.
Location / Area
The Bird & Bush is located in a residential area on the northern outskirts of Luton. The town centre is only 2 miles away and can be easily accessed from the M1 or A6. The pub serves residents from the residential estates to the northern end of Luton.
- 3 Bedroom Family Accommodation
- Fully Equipped Catering Kitchen
- Large open lounge bar, featuring dining and games areas with approx 90 covers.
|Rent Price||£34,000.00 Per Annum|