The Parkhall Tavern is located in the second largest settlement in Nottinghamshire, 12 miles north of Nottingham, with a local population of 110,500 as of the 2021 census.
Pub Layout
The main entrance is accessed via the car park and leads into a lobby which houses the toilets. The first entrance is to the lounge area which has its own bar and views over the main road. This is a comfortable area with bench seating and booths along with TVs for sport. To the rear of the pub is the main bar area, again serviced by its own bar. This room is large and has wooden flooring, making it ideal for events, functions, sports viewing, and teams for pool and darts. Externally, there is a large car park for several vehicles providing access to the front of the pub and a raised decked beer garden via a ramp for an alternative entrance.
Trading Style
The Parkhall Tavern offers a vibrant energy of a bar with the comfort of a local hangout. The trading style is a dynamic mix of wet-led services, delicious bar food, exciting events, live music, and lively karaoke nights. You can expect predominantly wet-led services, complemented by a back bar food menu featuring pizza and cobs. The pub is a favorite with locals, providing a solid following for events such as live music and karaoke.
Accommodation
The private accommodation includes a lounge, a well-appointed separate kitchen, two large double bedrooms, and one single bedroom, along with a small box room currently used as an office.
Financial Information
Annual Rent: £23,000
Security Deposit: £5,000
Working Capital: £3,000
Stock: £3,000
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.
For a breakdown of financial information, please refer to the ‘Additional Info’ tab.
BDM Vision
Admiral Taverns are looking for an experienced licensee who can maintain and develop the already excellent offer at the Parkhall Tavern. A licensee who can focus and give their time efficiently to the pub, get actively involved with the local community, incorporate themselves into helping local charities, and capitalize on popular music and sporting events will ensure this is a thriving and successful business.
Future Plans
Additional Information
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. Occasionally, our Business Development Manager will discuss a start-up rent which is discretionary to an individual pub and can be discussed.
Security Deposit: This sum of money will be held on your account and returned to you upon exiting the pub based on your final account balance and the condition of the property. Our standard deposit is 25% of the headline rent. Occasionally, we can negotiate a lower security deposit with the aim to build up to our full deposit on a long-term agreement.
Working Capital: This is a recommended amount required for 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, and 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 is 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 program. Held online over two days, you will learn marketing and business strategies that will help you 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.
*Zero Business Rates: Based on the April 2023 rating list, the Nil 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. Please note, this only applies to pubs marked with an asterisk.
#J-18808-Ljbffr