tenancy
120 Rectory Place, London SE18 5BY, UK
Approx. Total Ingoings
£10,000Annual Rent
£12,000The George IV is set in the heart of the residential area of Woolwich, in south east London, and this popular community hub occupies a great position on a corner plot. The pub is well-liked for pub games and there is an opportunity to make use of the trade kitchen to develop a food offering which will improve the customer experience and provide a boost to revenue. There is a patio garden, perfect for the warmer months and there is an opportunity to host more events at the pub to make the most of all the property has to offer. Stonegate Pub Partners are seeking an experienced publican who can integrate with the locals whilst upholding great retail standards.
Private Accommodation: The private accommodation comprises two bedrooms, a bathroom, and a kitchen.
Indoor trading area
The traditionally decorated property is carpeted throughout and benefits from windows on many sides, allowing plenty of natural light to stream in. The pub has one main room with its own servery, and a mixture of fixed and loose furniture seats up to 35 covers. A games area with a dart board can also double as a function room, providing a potential extra stream of revenue and here around 30 people can be accommodated. A compact trade kitchen is conveniently located to the right of the bar and would require some works and benefit from some additional equipment in order to offer a basic pub grub menu.
Outdoor trading area
To the side of the property is a paved patio with picnic bench seating and a covered smoking solution. This area is a fantastic suntrap and a real benefit for the pub in the summer months, providing both extra spaces to accommodate customers and acting as a highly visible retail offer to passing trade. There are four parking spaces directly outside the pub and further street parking is available.
Regional Manager Comments
The George IV is well supported by locals, and there is potential for the pub to improve its position at the heart of the community by attracting customers from neighbouring areas and improving its retail offer. I am interested in hearing from experienced operators who can relate to the regulars and drive the business forward by making use of all facilities including the function room.
Retail Partnership Tenancy
Beer Garden Private Accommodation Kitchen Cask Ale Function Room
Approx. Total Ingoings
£10,000
Annual Rent
£12,000
Potential Turnover: £216,000 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: £12,000 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: £10,000 (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: £6,000 (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.
