About the Property
A quaint village pub offering a quality dining experience, it has a very large enclosed garden, 7 letting rooms and function facility and boasts the Cask Marque accreditation for its real ales. Currently the business has an annual turnover of £653,317, with a sales split of 52% wet, 42% food and 6% room income.
A three storey brick built 17th Century Coaching Inn with plenty of atmosphere and traditional features throughout the building.
Comprising a 16-20 seat snug, a main bar with 16 seats, rear bar seating 16 and a 44 seat restaurant. There is also a large garden seating approx 40, a function room with full bar facilities for up to 60 people (dependent upon use/layout) and 4 double and 2 single en-suite letting bedrooms.
A fully equipped catering kitchen, a separate wash-up and food preparation kitchen and a laundry room, with a side yard used for deliveries and refuse bins.
Recent total refurbishment with new bathroom, living room kitchenette, 3 bedrooms all en-suite.
There is a great opportunity to develop sales income in all areas of this business, with improved focus on driving sales through the letting room accommodation and function room facility.
The Fair Maintainable Trade income for The Unicorn forecasts a sales level of £577,129 pa net of VAT, sustaining a rent of £43,000 pa with a food/wet/ room income split of 48:38:13.
Please note that these are estimated figures which are for guidance purposes only.
This opportunity would suit a chef and front of house couple who have a proven track record in running a successful accommodation/food business.
TERMS OF TENANCY/LEASE OFFERED
A 3 year tenancy or contracted out agreement will be offered for negotiation, with a full tie to purchase all drinks products (beers, wines, ciders, spirits, stouts and minerals) from Charles Wells Ltd.
There is a current premises licence in place for alcohol, regulated entertainment and late night refreshment, with licensed hours being 10am to 11pm Monday to Thursday, 11am to 12.30am Friday and Saturday and 11am to 11pm Sunday.
A copy of the licence 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.||
£35,000 payment plan can be negociated
|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, does not include 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 Stanbrdige 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
Deddington is located approximately 6 miles from Banbury and the M40, 11 miles from Chipping Norton and the Cotswolds and 17 miles from Oxford. Take the M40 to Banbury Oxfordshire, and then follow the A4260 towards Adderbury. Pass through Adderbury, following the A4260 towards Deddington. Once you reach Deddington, turn left onto Horse Fair Road and follow through until you enter the centre of Deddington Market Square. The Unicorn is located on the left hand side.
Deddington is well served by local buses and is on the main Oxford/Banbury and East/West route. It is a very busy and active village, with a hugely popular monthly Farmers Market, a specialist butchers, deli, small supermarket, hairdressers, beauticians, antique and dress shops, plus a cycle specialists.
- Grade ll Listed
- Exposed Beams
- Log Fires
- Domestic Kitchenette
- Domestic Living Room
- Domestic Bathroom (All En-Suite)
- 3 Domestic Bedrooms
- Restaurant with 44 Covers
- Fully Equipped Catering Kitchen
- Wash Up and Food Preparation Kitchen
- Laundry Room
- Side Yard Used For Deliveries And Refuse Binns
- 7 Letting Rooms
- Function Facility
|The Unicorn Inn, Market Place, Deddington, United Kingdom|
|Rent Price||£430,000.00 Per Annum|
The Unicorn, Deddington
The Unicorn Inn