tenancy
Black Swan Loke, North Walsham NR28 9BX, UK
Approx. Total Ingoings
£13,250Annual Rent
£29,000The Black Swan is a popular pub and live music/entertainment venue in the centre of the thriving market town of North Walsham. The pub comprises of a lounge with bar areas, which also includes a separate function room with stage and bar. There is a private car park for 8 - 10 cars along with a council run car park directly to the rear of the pub. The pub is wet led at present, however, there is potential to expand the food offering. This is a great opportunity for a first-time publican with catering and marketing experience or an established publican looking for a centrally located town pub.
Private Accommodation: The private accommodation is situated on the first floor and accessed via a separate door. The accommodation comprises a kitchen with fitted base units, wall cupboards, stainless steel sink and plumbing for dishwasher and washing machine. There are four double bedrooms and one single bedroom, a large lounge, bathroom and office. The private accommodation is due to be fully refurbished and redecorated throughout.
Indoor trading area
The pub boasts a bar area tastefully decorated throughout with tiled and wood-effect vinyl floors and a central bar servery. The area is divided into a games section with a pool table, gaming machines and juke box. The other half consists of a large seating area for up to 25 covers. There is a fully equipped trade kitchen adjacent to the bar area which could be utilised for expanding the food offering. To the side of the pub, there is a separate, self-contained function room. This is fully furnished with its own bar servery, toilets and stage, a great way to bring the local community together for live music, karaoke nights, discos, comedy and a wide range of events. It could also be hired out to customers for a variety of private functions.
Outdoor trading area
Whilst the pub doesn't have a beer garden, the paved area in front of the function room is well used for outside seating and socialising. The pub has a tarmac car park with space for approximately 8-10 vehicles.
Regional Manager Comments
This pub would be a great opportunity for an experienced publican or an individual with previous catering experience to develop this popular town centre venue. The pub offers high levels of flexibility and would benefit from offering a good food menu during lunchtimes whilst becoming a music venue in the evenings. The separate function room is a fantastic asset to the pub, providing an extra income stream to boost trade in quieter months. The Black Swan is at the heart of the local community and provides the new publican with an opportunity to put this great pub back on the map.
Retail Partnership Tenancy
Private Accommodation Kitchen Parking Cask Ale Function Room
Approx. Total Ingoings
£13,250
Annual Rent
£29,000
Potential Turnover: £390,000 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: £29,000 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: £13,250 (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: £10,000 (excl VAT)
To be discussed with the Regional Manager.
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