If you are looking to let a pub in Kettering, you could run The Mikado Pheasant !
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Let A Pub In Kettering– Run The Mikado Pheasant !
The Mikado Pheasant is located in the densely populated area of Kettering, surrounded by local housing. Kettering is a market and industrial town and civil parish in the North of Northamptonshire. It is located 67 miles north of London and 15 miles north-east of Northampton.
Pub Layout
The Mikado Pheasant is made up of two distinctive trade areas. Upon entering via the main entrance you will find yourself in the main bar. Here you will find a mixture of fixed and loose seating, a one bar servery – well stocked, pool table and darts area. The Lounge/function room can be access via the main bar. Again with a mixture of fixed and loose seating with its own separate bar. Behind the main bar you will find a small food preparation area. To the right side of the pub is where the carpark is located and to the left there is a small external drinking area with benches.
The stated ingoing figures are correct at point of advertising. Please be aware there may be additional costs.
The Mikado Pheasant currently trades as a wet only community pub. The main custom comes from locals in the immediate area and benefits from pub teams. There is much scope to develop this pub.
Private Accommodation
The private accommodation consists of three bedrooms, living room kitchen and bathroom.
Annual Rent: TBC
Security Deposit: £3,000 (Deposit build available)
Working Capital: £2,000
Stock: £3,000
F&F: TBC – 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.
Training: £325 plus VAT
*Based on the April 2023 rating list, the Zero Rates Payable is based on the licensee only occupying one property for commercial purposes.
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.
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 – 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 – £60.89 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.
*Zero Business Rates – Based on the April 2023 rating list, the Nil Rates Payable is based on small business rates relief being applied and the licensee only occupying one property for commercial purposes.
Ingoing Cost: 8000
Annual Cost: 0
The Mikado Pheasant should be the go to community pub. The new licensee (s) should embed themselves within the community. To drive the sales and increase trade we envisage that pub should introduce live sports, a regular calendar of events such as live music, Karaoke, quiz’s etc….
There is no catering kitchen here but there is space to deliver a small back bar/handheld food offer – this would be a welcome addition.
We are seeking a licensee (s) who will attract business through various marketing tools including social media. Ideally the licensee (s) will be passionate about quality beers and ales and possess exceptional customer service and engagement skills along with fantastic standards that will be key.
