If you are looking for a pub tenancy in Stowmarket, The Chestnut Horse is available.
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Pub Tenancy In Stowmarket – The Chestnut Horse Is Available !
The Chestnut Horse is situated in Great Finborough, an attractive village just outside Stowmarket in rural mid-Suffolk. The village spreads about a mile along the B1115 towards Bildeston and Hadleigh to the south. Unlike many other rural communities, it still has those staples of village life – a primary school, village hall and a parish church. Across the road is the renowned Finborough independent day and boarding school which provides a significant potential audience of both teachers and visiting parents.
Pub Layout
Internally, the Chestnut Horse boasts an open plan trading area that is primarily used for dining, and a recently built rear dining room that has a separate space for 24 diners. The pub has also retained a lounge bar area which has a cracking feature open fireplace. There is also a decent, well equipped trade kitchen with utility area, ground floor cellar and storage.
Externally there is a car park and floodlit pétanque pitch. To the front is a large terrace area which provides a further 30 seats alongside a small garden with children’s play equipment. There is also a garage which is currently used as a log store as well as two sheds which are also used for storage.
The stated ingoing figures are correct at point of advertising. Please be aware there may be additional costs.
The Chestnut Horse benefits from a loyal local trade and also attracts custom from both the nearby large market town of Stowmarket and the surrounding villages. Pub teams have been very important to the business, with pétanque teams, crib and darts teams and regular quiz nights, as well as creative new activities such as arts and craft events.
The pub has been well maintained both inside and out and is now ready to continue its commercial development under new stewardship. The most recent tenant has generated exceptionally strong relationships locally, alongside a strong reputation, and this will be a great platform for the new licensee.
Private Accommodation
This consists of three double bedrooms, a lounge, office, bathroom and separate toilet. There is also a large attic storage area.
Annual Rent: £22,500
Security Deposit: £5,000
Working Capital: £4,000
Stock: £4,000
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
For a breakdown on financial information, please refer to the ‘Additional Info’ tab.
*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.
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 – £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.
*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: 13000
Annual Cost: 22500
The successful new licensee will need to become part of the local community quickly as well as looking to develop the drive to trade at the pub. Although local knowledge would be advantageous, it is not essential; however, what is essential is high service standards alongside the drive and vision to make the very best of this beautiful site. A good food background would enable a new licensee to have a strong and beneficial start to the business, thus giving them the scope to push the business to where it can be.
