Pub Overview
Transformational investment of the exterior of the pub with a complete upgrade of the interior. Provides an opportunity to create the best local community pub in the area.
The area
East Lothian’s Local, The Railway Tavern is situated in the town of Prestonpans on the main street surrounded by local amenities and shops. With a growing population driven by new housing developments, there is a significant potential customer base living within walking distance of the pub. The pub is also a short walk from the train station, making it a convenient stop for commuters and tourists travelling to nearby Edinburgh and North Berwick.
Prestonpans Premier Pick! The Railway Tavern pub has the potential to be a great investment opportunity for the right operator. The pub has 57 internal covers and a small number of external covers to the front and rear, providing ample space for customers to relax and socialise.
The offer
When refurbished, the Railway Tavern will offer:
1. A good range of drinks including classic and premium lagers, spirits, wines, and cocktails as well as soft drinks.
2. A range of live sports and entertainment in the form of quiz and karaoke nights.
3. A coffee offer.
The Railway Tavern, Prestonpans is available on our 3 year fixed term Foundation Tenancy.
We’re always open to new ideas, what would you do to drive trade?
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 Railway Tavern, Prestonpans will have extensive experience and knowledge of the local area, who can engage with local customers and create a brilliant community led hospitality offer. They will have a clear vision for their drinks menu, sports offer 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...
Features
* Foundation Tenancy
* New Deal
* Live Sports
* Refurbishment Planned
* Music Venue
Trading Area & Facilities
The Railway Tavern will be undergoing a refurbishment which will cover the interior and exterior of the pub.
A full list of works and pub floor plan can be found in the ‘refurbishment details’ in the downloads.
The pub's trading area and facilities post refurbishment will be:
* Main trading area with bar
* 57 internal covers
* 20 external covers in front of the pub
* Small meeting room
* Smart Dispense
Applicants should be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process.
Where a significant investment is made in a pub by Star Pubs & Bars, an "Investment Exemption" will be required. The exemption means that the option of a Market Rent Option lease won't be available at rent review for a period of up to seven years for this site, as per The Pub Code (2016).
Private Accommodation
There is no Private Accommodation at this pub.
Pub Financials
Estimated Total Ingoing Costs: £31,492
Estimated Minimum Ingoing Costs: £10,164
Annual Rent: £19,967
Estimated Annual Turnover: £285,023
Deposit: £4,992
Estimated Fixtures & Fittings Value: £18,000
Estimated Stock Valuation: £5,000
Estimated Working Capital: £3,500
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.
Downloads
* Demographics Report Download arrow
* Drinks Menu Download arrow
* Energy Performance Certificate Download arrow
* Refurbishment Details Download arrow
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