tenancy
11 High Street, Lydd, Romney Marsh TN29 9AJ, UK
Approx. Total Ingoings
£23,250Annual Rent
£65,000Set in the heart of the historic village of Lydd, the George Hotel dominates the centre of the town. It is next door to the town hall and adjacent to the old and largest church on Romney Marsh. The pub is traditionally decorated and boasts two bars, a 24-cover restaurant and nine letting rooms. Stonegate Pub Partners are considering significant development works to convert the existing nine letting rooms to eight en-suite double rooms. Other development works may include new external decorations, lighting and signage as well as improvement to the internal decorations including the customer toilets. We are therefore seeking to recruit an experienced hotel operator who is able to demonstrate a strong business plan to deliver such an investment proposal, subject to approvals.
Private Accommodation: The private accommodation is very comfortable and comprises of two bedrooms, one of which has an en-suite, a lounge and kitchen area.
Indoor trading area
The George Hotel is well decorated in a mixture of styles to suit the needs of each area. The front bar boasts up to 20 covers across upholstered wooden stools, chairs and tables. This area is traditionally decorated in an olde-worlde style, featuring exposed beams, brickwork and a feature fireplace. In contrast, the second bar is modern with a stainless steel bar and games including darts and pool. The restaurant dining room can seat 24 customers and currently offers quality pub fayre. The hotel boasts has one family room with en-suite bathroom plus 8 further double rooms all with separate toilet and bathroom facilities on the same first floor. The reception area and separate dining room is used exclusively for guests. The large fully equipped kitchen is well positioned to support the extensive menu in this fantastic hotel and pub business.
Outdoor trading area
The pub features a rear patio area with seating for 20 patrons as well as a covered smoking solution with electric heating. There is also a beer garden which proves popular in the summer, especially with families. The tarmac car park to the rear of the property has 12 spaces and allows for passing trade.
Regional Manager Comments
There has been significant investment into the letting rooms, restaurant and kitchen in recent years making now an ideal time to take on this established pub and hotel business. There is great scope for growth in the letting side of the business and the established food and drink trade could benefit from enhancement through advertising and marketing. We are seeking an experienced operator with catering or hotel knowledge to develop the George Hotel.
Retail Partnership Tenancy
Beer Garden Private Accommodation Kitchen Parking Restaurant/Food
Approx. Total Ingoings
£23,250
Annual Rent
£65,000
Potential Turnover: £535,000 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: £65,000 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: £23,250 (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: £25,000 (excl VAT)
To be discussed with the Regional Manager.
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Originally formed in 2010 with 333 pubs, Stonegate Group is now the largest pub company in the UK following 12 major acquisitions. Our vast portfolio is now home to over 4,500 sites which range from Leased & Tenanted to Managed. We strongly believe that the pub is at the heart of British culture and we strive to deliver a fantastic customer experience.
