tenancy
2 King Street, Hereford HR4 9BW, UK
Approx. Total Ingoings
£12,600Annual Rent
£18,500The Spread Eagle is a 17th century public house located in the centre of the old historic part of the famous cathedral city of Hereford boasting a population of 60000 residents, just 20 yards from the front of the historic Hereford Cathedral. This traditional pub mixes olde worldly charm with a spacious contemporary interior with standing and seating around the bar, but with 70 dining covers on the ground served by a recently refurbished catering kitchen. Outside there is a quiet courtyard garden ideal for eating, drinking or just relaxing with friends. The pub is surrounded by city dwellers and shops and offices. The Spread Eagle is a great opportunity for someone looking to present a great pub food offering in a city environment, meeting the needs of residents, shoppers, workers and tourists alike.
Private Accommodation: The private accommodation comprises three large bedrooms, a lounge and a kitchen, situated on the first and second floors. The accommodation is a good size; however, it would benefit from refurbishment.
Indoor trading area
The main trading area is at ground level and split into two distinct spaces, suitable for both eating and drinking with 70+ covers. The section nearest the front door provides seating for 20 with relaxing leather sofas, hardwood floors and a central fireplace with additional room for standing, these projects a welcoming and homely feel to the bar area. Past the bar servery and to the rear is space for 40+ or more with provisions for live entertainment. The furniture in this area has recently been updated and has a fresh, modern feel to it. Upstairs is a pool table and access to the commercial kitchen.
Outdoor trading area
Accessed via the side door opposite the bar servery is a charming patio split between covered and uncovered, a unique selling point for a town centre pub. There is also a smoker’s area and plenty of room for relaxing, eating and drinking with seating for over 50 customers throughout.
Regional Manager Comments
The customer base is made up of a wide range of clientele, as you would expect from a town centre pub. This includes workers, shoppers and tourists by day and locals in the evening looking to sample what the town centre has to offer. Stonegate is looking for an experienced food led publican, however in addition having the ability to grow the wet trade through cask ale, late night trade and daytime tourist.
Retail Partnership Tenancy
Beer Garden Private Accommodation Kitchen Cask Ale
Approx. Total Ingoings
£12,600
Annual Rent
£18,500
Potential Turnover: £321,000 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: £18,500 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: £12,600 (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: £16,000 (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.
