Run an Admiral Pub, Barons Cross Inn, Leominster
This is a traditional pub that caters to both local residents of the town and passing trade which increases during the summer months. The pub also benefits from a touring caravan park to the rear of the site which can bring in additional income and associated sales. Trade at the pub is currently drink led with room to develop a food offer to benefit the wider local community. There is an opportunity to also introduce teams in the pub such as pool, darts and crib which could tap further into the local market.
Accommodation: Private Accommodation consisting of three bedrooms, kitchen, sitting room and bathroom which are all in good order.
Financial:
Annual Rent: £16,000
Security Deposit: £5,000
Working Capital: £2,500
Stock: £2,500
Business Rates: £Nil. Based on the April 2023 rating list, the Zero Rates Payable is based on small business rates relief being applied for by the licensee and the licensee only occupying one property for commercial purposes.
Fixtures and Fittings: To be confirmed upon valuation–funding options may be available for the right licensee.
Tie: All drinks categories are tied. For fully funded licensees on long term agreements, we offer free-of-tie options for certain drinks categories in exchange for an annual fee.
BDM Vision:
The ideal applicant will either already have a proven track record in managing a similar style pub or demonstrate the enthusiasm, passion and drive to enable the site to reach its full potential. The ability to introduce and develop a food offer at this site will be key to creating a sustainable business. The Barons Cross offers a multi-income stream site and there is an opportunity to grow all aspects of the business.
Future Plans:
Annual Rent – This is our lowest rent figure associated with a Full Tie. If the tie is reduced the effective rent (via Tie Release Fees) will increase. Rent is billed and paid for weekly in advance depending on the payment terms agreed.
Security Deposit – This sum of money will be held on your account and will be returned to you on exiting of the pub based on your final account balance and the condition of the property.
Working Capital – This is a recommend amount required which will be used in the day-to-day running of the business.
Stock – This will be valued by an independent valuer on the day you take over the pub. This includes unbranded glassware, unopened bottles, wines, spirits, any unopened / opened kegs and cask ale providing the container is unopened.
Fixtures & Fittings – This includes any item that is bolted to the floor or walls, and a fitting to be any item that is free standing or hung by a nail or hook. This will also include furniture.
Training – £350.00 – Before signing a long term agreement, you will be required to attend our 7 Steps to Sales Success training programme. Held online over two days, you will learn marketing and business strategies that will help you to grow sales in your pub – step-by-step.
Service Charge Cost – £63.33 per week – The Admiral Taverns Premium Maintenance Package will help take care of your compliance and statutory obligations with one simple fee, whilst giving you peace of mind about your boiler and cellar cooling repair and replacement. This also includes full access to e-learning for you and your staff.
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