If you are looking to lease a pub in Exmouth, you could run The Phoenix !
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Lease A Pub In Exmouth – Run The Phoenix !
Lease A Pub In Exmouth – Run The Phoenix !
The Phoenix, which is due to get a massive renovation to the value of £246k, is located in the centre of Exmouth, with 15,000 adults within one mile of the pub. Exmouth has a growing population of professionals and is a commuter hub for Exeter. The town has recently benefited from significant investment, making this the perfect place for a new, quality High Street pub, with a stand-out offer.
The pub will be completely overhauled inside and out. Outside, a new signage and lighting scheme will be accompanied by a fresh facelift, while an appealing courtyard will be created at the rear of the pub. Inside, all trading areas will be redecorated, from floor to ceiling. Stylish lights and furniture will appeal to diners and drinkers alike. A fresh, quality menu of pub grub will suit this style of venue. As our ambition is to make the Phoenix into the ‘Best High Street Local’, a number of ‘reasons to visit’ should feature on a future business plan, such as live sport, music, quizzes and ongoing promotions. If you’ve benefited from running or owning a pub business, we’d love to hear what experience you can bring.
The stated ingoing figures are correct at point of advertising. Please be aware there may be additional costs.
Be the Best High Street Local
The Phoenix, which is due to get a massive renovation to the value of £246k, is located in the centre of Exmouth, with 15,000 adults within one mile of the pub. Exmouth has a growing population of professionals and is a commuter hub for Exeter. The town has recently benefited from significant investment, making this the perfect place for a new, quality High Street pub, with a stand-out offer.
The pub will be completely overhauled inside and out. Outside, a new signage and lighting scheme will be accompanied by a fresh facelift, while an appealing courtyard will be created at the rear of the pub. Inside, all trading areas will be redecorated, from floor to ceiling. Stylish lights and furniture will appeal to diners and drinkers alike. A fresh, quality menu of pub grub will suit this style of venue. As our ambition is to make the Phoenix into the ‘Best High Street Local’, a number of ‘reasons to visit’ should feature on a future business plan, such as live sport, music, quizzes and ongoing promotions. 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 pub will have extensive experience in a successful hospitality business. They will have a clear vision for their food & drinks menu and marketing strategy 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…
Trading Area & Facilities
Inside, all trading areas will be redecorated, from floor to ceiling. Stylish lights and furniture will appeal to diners and drinkers alike.
The open plan layout will feature a number of different, designated trading spaces such as a warm & cosy seating area at the front, seated booths with private screens will follow and finally, a sports area will be at the rear.
A new commercial kitchen will be installed which will allow the operator to deliver a tasty menu.
Outside, a new signage and lighting scheme will be accompanied by a fresh face lift, while an appealing beer courtyard will be created at the rear of the pub.
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
The private accommodation at the Phoenix consists of two bedrooms, lounge, kitchen and bathroom, together with a self-contained bed-sit with bathroom.
Pub Financials
Annual Rent £28,506
Estimated Annual Turnover £458,513
Deposit £7,127
Estimated Fixtures & Fittings Value £30,000
Estimated Stock Valuation £6,000
Estimated Working Capital £3,500
Estimated Total Ingoing Costs £46,627
Estimated Minimum Ingoing Costs £46,627
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.
The right operator for the pub will have extensive experience in a successful hospitality business. They will have a clear vision for their food & drinks menu and marketing strategy 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…
