tenancy
26 Duke Street, Darlington DL3 7AQ, UK
Approx. Total Ingoings
£8,100Annual Rent
£20,500Salvo’s is an excellent and well-kept property situated in Darlington that offers a lovely frontage on a busy throughfare with excellent passing trade. Previously operated as a successful Italian restaurant, there is a great opportunity here to establish the business as a wet-led pub to facilitate more demand. The property offers a stylish bar area providing adequate space for an easy to run operation with plenty of covers for eating and drinking. There are also great kitchen facilities if the new publican decided to implement a food offer. Salvo’s would suit either an experienced restaurateur or an operator looking to bring something new and exciting to the area. A good understanding of the local market would be advantageous.
Private Accommodation: The private accommodation is a cosy two-bedroom flat which has a private entrance and comprises of a kitchen, bathroom and separate shower. There is also a well-lit double windowed sitting room which faces onto the street.
Indoor trading area
Salvo’s currently operates in a stylish single trading room which is serviced by a vibrant single bar servery. There is a combination of fixed and loose furniture alongside a row of booth style seating which is all in excellent condition and offers a variety of options for the customer. Modern wooden flooring and tiles around the bar compliment the operation.
Outdoor trading area
The pub is situated on a main road and is double fronted making it eye catching on the street. Due to its high street location, there is no external trading area.
Regional Manager Comments
Salvos has been trading very successfully as an Italian restaurant for a number of years, there is however the opportunity to redevelop the business back into a wet led operation to facilitate more trading opportunities. The pub is in excellent condition and offers the new publican a variety of operations. I am now looking for an experienced restauranteur or an operator looking to bring something new and exciting to the area.
Retail Partnership Tenancy
Private Accommodation Kitchen Restaurant/Food
Approx. Total Ingoings
£8,100
Annual Rent
£20,500
Potential Turnover: £0 per annum
This is an estimate of the potential annual turnover of the pub business. It does not include the financial benefits of any living accommodation, which you will need to consider.
Guide Rent: £20,500 per annum, payable weekly in advance.
The Proposed Agreement: Retail Partnership Tenancy
The Landlord is prepared to discuss other Partnership agreements.
They will also discuss your purchasing options (Wines, spirits, cask, minerals and flavoured alcoholic beverages) which you can choose all, a combination or none. Tie release fees will apply.
Estimated Capital Start-up: £8,100 (excl VAT)
Often referred to as ingoings. Includes stock & glassware at valuation, deposit, refundable at the end of your agreement dependent upon your account being in good order. Up to 2 weeks rent and other contractual charges will be payable in advance. Please note, the actual deposit payable will be 25% of the final agreed rent.
In addition you will need to provide funds for professional advice and a level of working capital - the amount will be dependent on your business plan.
Estimated Fixtures and Fittings Value: £20,000 (excl VAT)
To be discussed with the Regional Manager.
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