Are you looking to lease a pub in Newburgh? ‘The Abbey Inn’ is available !
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Lease A Pub In Newburgh – The Abbey Inn Is Available !
Lease A Pub In Newburgh – The Abbey Inn Is Available !
The Abbey Inn is set on the main road in Newburgh, a parish of Fife at the south shore of the Firth of Tay. With a small population of 2171, this area is quiet but has an abundance of historical attractions, alongside the industrial heritage and a long history of fishing, the area is also well known for its walkers, cyclists and outdoor sports providing the best location for the perfect getaway.
Pub Layout
Upon entrance from the main road, this L shaped, two-room operation provides the main bar experience complete with pool table and the traditional, cosy lounge area for those quieter evenings. The main bar is L-shaped with steps down to the pool table. There is a small kitchen area located at the rear of the pub which could be used for a small back bar food offering alongside breakfasts for the letting rooms. The main bar is complimented by a small lounge area. With a mixture of stone and panelled walls, fixed and loose seating, this area is cosy and snug for those perfect evening drinks. There are three letting rooms, all en-suite consisting of two doubles and one family room located on the first floor with potential to increase income. Outside to the rear of the pub are stables, which if converted, could add additional seating areas or an area for private functions alongside the beautiful beer garden area overlooking the orchard and beautiful views of the river.
The stated ingoing figures are correct at point of advertising. Please be aware there may be additional costs.
Lease A Pub In Newburgh – The Abbey Inn Is Available !
The Abbey Inn, Newburgh
Currently the pub is operated mainly as a wet led traditional local with pub sports such as pool and darts, this can provide an opportunity for local teams to join, enhance a premium drinks offer and introduce cask ales. A small commercial kitchen can be used to offer a small food menu daily and increase sales for the three letting rooms with a Bed and
Breakfast offering. Outside there are stables which could be converted to an outside seating area expanding the beer garden area. The area is well known for its walkers, cyclists and outdoor sports to add to the sometimes-quieter day time trade and encourage further support of the local villagers.
Private Accommodation
The private accommodation consists of one good sized bedroom with private lounge and bathroom.
Letting Accommodation
There are three letting rooms, all en-suite consisting of two doubles and one family room.
Annual Rent: £18,000
Security Deposit: £5,000
Working Capital: £3,000
Stock: £3,000
F&F: TBC – Funding options may be available for the right licensee.
Training: £325 plus VAT
For a breakdown on financial information, please refer to the ‘Additional Info’ tab.
Additional Info
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). On occasion, 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 will be returned to you on exiting of the pub based on your final account balance and the condition of the property. Our standard deposit is 25% of the headline rent. On occasion, 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 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 – Before signing a long term agreement, you will be required to attend our 7 Steps to Sales Success training programme. Held online over three days, you will learn marketing and business strategies that will help you to grow sales in your pub – step-by-step.
Service Charge Cost – £57.60 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 piece of mind about your boiler and cellar cooling repair and replacement. This also includes full access to e-learning for you and your staff.
Ingoing Cost: 11000
Annual Cost: 18000
Admiral are looking for a licensee for the Abbey Inn, who will work hard to maintain the already strong links with the local community, continue and develop the weekly rhythm and associated events, as well as using new and innovative ways to drive additional footfall and put the pub at the heart of the community. The new licensee would emerge themselves into the local community, adopt new market trends to develop on the current drinks offer throughout the year, engage in all the opportunities in the surrounding areas to encourage a connection and market the facilities the pub has to offer and ensure this site is the hub of the community.
