If you are looking to lease a pub in Newcastle Upon Tyne, you could run The Balloon !
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Lease A Pub In Newcastle Upon Tyne – Run The Balloon
The Balloon is large well-established community pub situated to the north of Newcastle City Centre. Located close to a major retail park just off the busy A1. Nearby is the A191 which is one of the main routes in and out the city centre. There is excellent levels of footfall locally owing to plentiful housing, both private and council owned, that surround the immediate area around the pub. The pub is easily accessible and visible from the road network around the property. The pub is like a “second home” to the locals that frequent the outlet who have remained loyal for many years. Of late the pub has appealed to a younger audience who now use the pub since a wider drinks range has been introduced. Capacity here is huge and therefore possesses great business potential.
Pub Layout
The Balloon is a two-room operation. The bar area runs along the front of the building with access via the main entrance which is directly off the road. There is a large traditional function room which runs from the front of the building to the back. Both areas are serviced by their own bar and have separate toilets. The Function Room toilets were upgraded in summer 2020 to a very high standard. The main bar area is decorated in a sports bar style but would welcome a sparkle in keeping with the vision of the incoming operation. For the Summer months, there is the added benefit of an outside drinking area which is to the side of the main entrance and new patio area to the front of the pub. To the rear is of the pub is a recently resurfaced car park for over 30 vehicles, this facility is currently shared with a bookmaker that help to provide additional footfall to the business
The stated ingoing figures are correct at point of advertising. Please be aware there may be additional costs.
The Balloon, Newcastle Upon Tyne
The Balloon already has a strong customer base and is particularly popular with sports fans and teatime drinkers. Trade is solely drinks based and pool and darts teams help boost mid-week profits. An experienced operator would look to build on the already established customer base by introducing a regular entertainment program and push and advertise the use of the newly appointed Function Room opportunity. It will be important that the drinks range is reviewed on a regular basis to ensure the pub continues to attract consumers from a younger audience. There is the potential however to grow this significantly.
Private Accommodation
The private accommodation is of good size, spread over two levels and consists of three bedrooms, two bathrooms, a lounge, kitchen and office.
The Balloon, Newcastle Upon Tyne
Annual Rent: TBC
Security Deposit: £5,000
Working Capital: £10,000
Stock: £6,000
Fixtures and Fittings: Upon Valuation – funding options 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.
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: 21000
Annual Cost: 0
The Balloon, Newcastle Upon Tyne
The Balloon is the hub of the community. Ideally this would suit an experienced licensee with a hands on approach, someone who can engage with the local community and be a strong marketeer creating a really strong pub experience.
