About the Property
The Plough is popular with locals and built up a good following from canal users. The pub offers a good mix of cask ales, world lagers and Charles Wells craft brews. They currently offer an ecclectic fresh menu and has previously been successful with Italian influenced food. With the extensive garden areas, it trades very well in the summer months.
The Plough is a large detached, rendered building with a prominent location in the centre of the village. It is accessible from both the road and the canal.
The trading area is split into three separate areas serviced from a single bar. To the front of the building are a bar area and a cosy snug, with a large dining area and terrace to the rear. The rear garden is reached via the car park and backs on to the canal and tow path.
The pub is serviced by a ground floor cellar and a large well appointed commercial kitchen.
There are significant opportunites to develop both the food and drink trade. Engagement with the local community is key and could be developed by introducing a calendar of events. A well executed fresh food offer is key to building business and The Plough has enormous potential through its proximity to the Open University, Stadium MK and canal, as well
as being promoted as a drive-to destination. The latest accounts show an annual turnover in the region of £285,000 net of VAT, with a split of sales 60% drink and 40% food. From experience based on the style of the operation, location and previous sales data we have appraised the net Fair Maintainable Turnover to be £405,190 pa.
This opportunity would ideally suit an experienced operator with outstanding hospitality skills and the drive and vision to develop sales to execute their business plan. Demonstrable experience of building business through community engagement, excellent service and retail standards is important.
TERMS OF TENANCY/LEASE OFFERED
A 3 or 5 year tenancy agreement will be offered for negotiation, with a full tie to buy all drinks products (beers, ciders, wines, spirits, stouts and minerals) from Charles Wells Ltd.
There is a current premises license in place for alcohol and regulated entertainment, with licensing hours between 10:00 and 23:00 Monday – Saturday and 12:00 and 22:30 on Sunday
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.
£10k Ltd co
|Fixtures and Fittings estimated valuation (paid to the outgoing licensee via the valuer at least 7 days in advance, or by way of installments) 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
|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 Stanbridge on 01234 244423 or via email at firstname.lastname@example.org. 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 Plough is positioned between the main thoroughfare through Simpson Village and the Grand Union Canal and is the only pub in the village. Simpson is a village to the south of Central Milton Keynes and the pub is a short walk to Stadium MK.
- Family Friendly
- Space For Pub Games
- Space For Musical Acts
- Good Sized Rear Garden
- Separate Dining Areas
|Rent Price||£29,000.00 Per Annum|