tenancy
40 Lower Warrengate, Wakefield WF1 1SA, UK
Approx. Total Ingoings
£13,250Annual Rent
£25,000The Rainbow is a brilliant wet led pub situated in Wakefield, with a strong local trade. Despite the city centre location, the Rainbow is a real heart of the community style pub which makes a strong profit through holidays, festival seasons and during events. There is potential to grow its non-LGBTQ+ trade, although this its unique selling point. The dedicated sports room at the back of the pub is ideal for local teams and the rear beer garden is great for events. Stonegate Pub Partners are now looking for a new publican either experienced or new to the trade, who can build connections with the current customer base and look to develop the trade to maximise revenue. This pub would really benefit from a new publican who is passionate, driven and can use their marketing skills to attract customers during the busiest times of the year.
Private Accommodation: The private accommodation is well presented and in good condition. There are two bedrooms, with a large lounge kitchen and lounge area.
Indoor trading area
The pub currently operates in two main internal areas, serviced by one main bar. The décor is traditional and welcoming with plenty of covers available. The pub also has a large back room with a separate bar which is dedicated to sport, there is a pool table, darts board and gaming machines available for customers to use.
Outdoor trading area
To the rear of the pub is an extensive outdoor area which offers picnic bench seating, a popular spot for events and during the summer months. There is a permanent wooden covered area and a temporary gazebo covered area which could be removed on sunny days.
Regional Manager Comments
This is a fantastic opportunity for an experienced or new starter to the trade who is looking to take on a great pub in a popular area. The main foundation of trade is the loyal LGBTQ+ clientele who are great customers to the pub and the local area. The new publican will need to build a rapport with people who visit, so knowledge of this sector would be a plus, but not a must. This pub performs extremely well over festivals and during the holidays, so a publican who market the pub successfully to utilise that time of year would be a major advantage.
Retail Partnership Tenancy
Live Music Beer Garden Private Accommodation Cask Ale Live Sports
Approx. Total Ingoings
£13,250
Annual Rent
£25,000
Potential Turnover: £288,000 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: £25,000 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: £10,600 (excl VAT)
To be discussed with the Regional Manager.
MISREPRESENTATION ACT 1967
My Hospitality Solutions Ltd advises that the contents of these particulars are believed to be correct and Lessees should satisfy themselves that they are accurate.
The information and images displayed about the properties advertised comprise a property advertisement only. My Hospitality Solutions Ltd is not liable for the accuracy or completeness of the advertisement or any linked or associated information and My Hospitality Solutions Limited has no control over the content.
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.
